UPDATE ON C SHARE CONVERSION

RNS Number : 5431Q

VPC Specialty Lending Invest. PLC

01 March 2016

 

1 March 2016

VPC Specialty Lending Investments PLC

(the "Company")

UPDATE ON C SHARE CONVERSION - CONVERSION RATIO AND TIMETABLE

Further to its announcement made on 29 January 2016, the Company is pleased to provide the following information regarding the conversion of its C shares into new ordinary shares.

Conversion Ratio

The net asset values ("NAVs") attributable to the ordinary shares and the C shares as at the calculation date, being the close of business on 31 January 2016, were 99.23 pence per ordinary share and 99.03 pence per C share respectively.

The conversion ratio, as calculated in accordance with the Company's articles of association as described in the Company's prospectus published on 8 September 2015 (the "Prospectus"), is 0.9979 ordinary shares for every one C share held as at close on the conversion record date of 3 March 2016. On the basis of the conversion ratio, a holder of 1,000 C shares will receive 997 ordinary shares ("new ordinary shares") upon conversion. The aggregate entitlement of a holder of C shares to new ordinary shares will be rounded down to the nearest whole share. No fractions of new ordinary shares will be issued.

The new ordinary shares arising on conversion will rank pari passu with, and will have the same rights as, the ordinary shares already in issue save in respect of the dividend declared on the ordinary shares on 29 January 2016 for which the record date was 12 February 2016.

Expected Timetable

The expected timetable for conversion is as follows:

Record date for conversion and closure of C share register	5.30pm 3 March 2016
Cancellation of C shares	5.30pm 3 March 2016
Dealings commence in new ordinary shares	8.00am 4 March 2016
CREST accounts credited with new ordinary shares in uncertificated form	4 March 2016
Share certificates in respect of new ordinary shares in certificated form dispatched	By 11 March 2016

A further announcement will be made in due course.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Victory Park Capital Brendan Carroll (Partner and Co-Founder)	via Newgate (below)
Gordon Watson (Principal, Investment Manager)
Jefferies International Limited	Tel: [phone]
Gary Gould
Alex Collins
Newgate (PR Adviser)	Tel: [phone]
James Benjamin Alex Shilov Lydia Thompson	Email: [e-mail]

ABOUT:

VPC Specialty Lending Investments PLC invests in opportunities within the specialty lending market primarily through online lending platforms. The Company intends to generate an attractive total return for shareholders consisting of distributable income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily US, Australia and Europe) and credit bands.

Since 2010, the Company's investment manager, Victory Park Capital, has been actively involved in the specialty lending marketplace and has made more than $4.1 billion of investments and commitments across a number of financial technology platforms, multiple geographies (U.S., U.K., Australia and Europe), products (consumer and business) and structures (whole loans and senior credit facilities).

Further information on VPC Specialty Lending Investments PLC is available at www.vpcspecialtylending.com.

IMPORTANT NOTICE

This announcement does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, Shares in any jurisdiction where such offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on the Company. The Shares have not been, and will not be, registered under the securities laws, or with any securities regulatory authority of, any member state of the EEA other than the United Kingdom, or any province or territory of Australia, Canada, the Republic of South Africa or Japan. Subject to certain exceptions, the Shares may not, directly or indirectly, be offered, sold, taken up or delivered in, into or from any member state of the EEA other than the United Kingdom, Australia, Canada, the Republic of South Africa or Japan or to or for the account or benefit of any national, resident or citizen or any person resident in any member state of the EEA other than the United Kingdom, Australia, Canada, the Republic of South Africa or Japan. This document does not constitute an offer to sell or a solicitation of an offer to purchase or subscribe for Shares in any jurisdiction in which such offer or solicitation is unlawful or would impose any unfulfilled registration, publication or approval requirements on the Company. The distribution of this document in other jurisdictions may be restricted by law and therefore persons into whose possession this document comes should inform themselves of and observe any restrictions.

 

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