Conversion of C Shares - Calculation Time

RNS Number : 3065J

CVC Credit Partners European OpsLtd

10 June 2014

 



CVC Credit Partners European Opportunities Limited

10 June 2014

Conversion of C Shares - Calculation Time

The board of directors (the "Board") of CVC Credit Partners European Opportunities Limited (the "Company") announces an update in relation to the Company's investment of the €111m of gross proceeds from the issue of C Shares on 3 April 2014.

The Company is pleased to announce that as at 31 May 2014 approximately 83.49 per cent of the net proceeds of the C Share issue had been invested by CVC European Credit Opportunities S.àr.l.  (the "Investment Vehicle"). The Board has therefore determined that the Calculation Time (for the purposes of calculating the basis upon which the Company's Euro C Shares will convert into Euro Shares and Sterling C Shares will convert into Sterling Shares) will be the close of business on 30 June 2014, with conversion to take place on or around 22 July 2014 following publication of the Company's month end net asset value per share in respect of each share class. No dividend will be paid in respect of the C Shares prior to Conversion and the income attributable to the C Shares in respect of the period from Admission of the C Shares up to the Calculation Time will be taken into account in the Conversion Ratio accordingly.

The expected timetable for conversion is set out below :

Calculation Time for the purposes of conversion to Ordinary Shares	30 June
Conversion Time	22 July

A further announcement regarding the Conversion Ratio, Conversion Time and the number of new Euro Shares and Sterling Shares to be issued on Conversion is expected to be made on or around 18  July 2014. 

Enquires

CVC Credit Partners European Opportunities Limited:                                   [phone]

Richard Boléat

BNP Paribas Securities Services S.C.A. Jersey Branch:                                     [phone]

CVC Credit Partners European Opportunities Limited

 

END

 

 

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