Return of Capital to Shareholders

RNS Number : 5562R

Highbridge Tactical Credit Fund Ltd

05 November 2021

 

HIGHBRIDGE TACTICAL CREDIT FUND LIMITED

(the "Company")
Registration No. 44704

Registered Office:
SARNIA HOUSE, LE TRUCHOT, ST PETER PORT,
GUERNSEY GY1 1GR
 

TELEPHONE: [phone]
FACSIMILE: [phone]

5 November 2021

RETURN OF CAPITAL TO SHAREHOLDERS

The Company today announces that it will return £15,475,575.30 (equivalent to £2.30 per share) on 15 November 2021 (the "Redemption Date") by way of a compulsory partial redemption of ordinary shares of NPV ("Shares") ( the "Redemption").

The Redemption will be effected at £2.7417, being the NAV per Share as at 30 September 2021 and pro rata to holdings of Shares on the register at the close of business on the Redemption Record Date, being 15 November 2021. As at today's date, the Company has 6,728,511 Shares in issue of which nil are held held in treasury. On this basis approximately 83.89 percent. of each registered shareholding would be redeemed on the Redemption Date.

Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.

All shares that are redeemed will be cancelled with effect from the relevant Redemption Date.  

The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00BL6KH658 (the "Old ISIN") will expire.

The new ISIN number GG00BMF0J347 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 16 November 2021.

Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

Voting Rights as at 16 November 2021

Following the Redemption, the issued share capital of the Company will be 1,084,072 Shares, of which nil will be held in treasury. 

Accordingly, the figure of 1,084,072 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Board anticipates that the Company will receive future distributions from the Master Fund such that further share redemptions may be declared on a quarterly basis. However, shareholders should note that the Board retains absolute discretion as to the execution, pricing and timing of any returns of capital.

Expected timetable for redemption:

Posting of redemption notice  5/11/2021

Record Date, Redemption Date and expiry of old ISIN number            15/11/2021

New ISIN number enabled   16/11/2021

Redemption monies paid to uncertificated holdings and    23/11/2021

certificated holdings 

LEI: 213800397SYHLYFH5961

Enquiries:

Company Registrar

JTC Group

Office: [phone]  

Company Secretary and Administrator

Praxis Fund Services Limited

Office: [phone]

Broker

finnCap

DDI: [phone]

 

END

 

 

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