Return of Capital and NAV

RNS Number : 5682L

ICG-Longbow Snr Sec UK Prop DebtInv

13 September 2021

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.

This announcement is released by ICG-Longbow Senior Secured UK Property Debt Investments Limited  and contains inside information for the purposes of the UK version of the Market Abuse Regulation (EC No. 594/2014).

13 September 2021

ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)

Return of Capital and NAV

As announced on the 5th August 2021 the Company has received repayment in full of the 5.7 million Halycon loan, following a refinancing of the portfolio securing the loan. The repayment was accompanied by interest and fees of approximately 0.1 million in aggregate. Additionally, the Company has received a partial 1.7 million prepayment of the Quattro loan, following a refinancing of one of the portfolio properties. The Board of Directors of the Company is consequently pleased to announce that it has resolved to return an amount of 5.50 pence per ordinary share to shareholders, being £6,671,653 in total based on the current number of ordinary shares in issue. This return of capital will be effected by way of an issue of redeemable B shares to existing shareholders pro rata to their shareholding on the record date set out below and the subsequent redemption of those B shares.

The Company announces that the estimated unaudited net asset value per ordinary share as at 31 July 2021 was 98.21 pence per ordinary share. The estimated unaudited net asset value per ordinary share as at 31 July as adjusted for the return of capital would be 92.71 pence per ordinary share.

It is expected that the timetable for the return of capital will be as follows:

Ex-date	16-Sep-21
Record date for shareholders on the register to receive B shares	17-Sep-21
121,302,779 B shares issued pro-rata to shareholders on the register as at the record date	20-Sep-21
121,302,779 B shares redeemed at 5.50 pence per share and cancelled	24-Sep-21
Cheques in relation to the redemption payment sent to shareholders that hold their shares in certificated form	30-Sep-21
Redemption payment made through CREST to shareholders who hold their shares in uncertificated form	30-Sep-21

All redemption payments will be paid gross of tax.

For further information, please contact:

Ocorian Administration (Guernsey) Limited
Louise Manklow	[phone]
Cenkos Securities:
Will Rogers Will Talkington	[phone]
Maitland Consultancy Limited:
Vikki Kosmalska	[phone]
ICG Real Estate Martin Wheeler David Mortimer	[phone] [phone]

Further information on the Company can be found on its website at  http://www.lbow.co.uk .

ICG Longbow LEI: 2138008BKBH3OP2CA764

 

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