Possible Convertible Unsecured Loan Stock Issue

RNS Number : 8954F

F&C Global Smaller Companies PLC

30 April 2014

 



30 april 2014

F&C Global Smaller Companies PLC

Possible convertible unsecured loan stock issue

The Company has in issue £10m 11.5% debenture stock, which matures in December 2014. As the maturity date approaches, the Directors of the Company have been keeping under review whether to replace the structural gearing which the debenture stock has offered and have been considering the form of any replacement debt security.

Among the options, the Directors are considering the possibility of an issue of Convertible Unsecured Loan Stock ("CULS"), up to a maximum of £40 million.  If the Directors were to resolve to proceed with such an issue, in due course a Circular seeking shareholder approval and a Prospectus for the CULS would be produced.  A further announcement will be made by the Company in due course. 

F&C Management Limited           020 7628 8000

Peter Ewins          

Jan Baker            

Hugh Potter

Oriel Securities Ltd         020 7710 7600

Neil Winward                      

Mark Bloomfield

Tom Yeadon

 

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