Last checked at 
19 Oct 2017 07:00
GCP Asset Backed Income Fund Limited (the "Company" or "GCP Asset Backed") LEI: 213800FBBZCQMP73A815
Dividend Declaration and Scrip Dividend Alternative
19 October 2017
The Board of GCP Asset Backed, which invests in asset backed loans, is pleased to announce its third quarterly dividend in respect of the period from 1 July 2017 to 30 September 2017 of 1.525 pence per ordinary share (the "Q3 Dividend").
The ordinary shares will go ex-dividend on 26 October 2017 and will be paid on 24 November 2017 to holders of ordinary shares recorded on the register as at the close of business on 27 October 2017.
Further to the authority granted by shareholders at the Annual General Meeting of the Company held on 23 May 2017, holders of ordinary shares will be given the opportunity to elect to receive new ordinary shares in the Company ("Scrip Shares") in place of their cash entitlement pursuant to the Q3 Dividend (the "Scrip Dividend Alternative").
Further details of the Scrip Dividend Alternative can be found in the Scrip Dividend Circular 2017 which was published by the Company on 28 July 2017, a copy of which is available for inspection at www.morningstar.co.uk/uk/NSM and on the Company's website at www.graviscapital.com/funds/gcp-asset-backed. The Scrip Dividend Circular 2017 was posted to shareholders and is available from the Company's registered office at 12 Castle Street, St Helier, Jersey, JE2 3RT, Channel Islands.
The reference price of the scrip shares in respect of the Q3 Dividend will be calculated and published on or around 2 November 2017.
Shareholders will receive the Q3 Dividend in cash, unless they have completed either a standing election (a "Scrip Dividend Mandate") (for holders of ordinary shares in certificated form only, with such Scrip Dividend Mandate to be returned to the Company's registrar, Capita Asset Services, by no later than 5pm on 10 November 2017) or a Dividend Election Input Message shares (for holders of ordinary shares in CREST only, with such Election to be made in CREST by no later than 5pm on 10 November 2017) to receive Scrip Shares.
Holders of ordinary shares in certificated form who complete a Scrip Dividend Mandate will continue to receive Scrip Shares in lieu of their entire cash dividend entitlement for future dividends unless they revoke their Scrip Dividend Mandate, details of which are set out in the Scrip Dividend Circular 2017.
Expected timetable for Q3 Dividend and Scrip Dividend Alternative
2017
Ex-dividend date 26 October
Record date 27 October
Reference price of Scrip Shares for Q3 Dividend announced 2 November
Latest date for receipt of Scrip Dividend Mandates and CREST elections 5pm on 10 November
Q3 Dividend payment date 24 November
Admission to listing of Scrip Shares 24 November
For further information, please contact:
Gravis Capital Management Limited +44 (0) 20 3405 8500
David Conlon david.conlon@graviscapital.com
Philip Kent philip.kent@graviscapital.com
Dion Di Miceli dion.dimiceli@graviscapital.com
Cenkos Securities plc +44 (0)20 7397 8900
Tom Scrivens tscrivens@cenkos.com
Oliver Packard opackard@cenkos.com
Sapna Shah sshah@cenkos.com
Buchanan +44 (0)20 7466 5000
Charles Ryland charlesr@buchanan.uk.com
Victoria Hayns victoriah@buchanan.uk.com
Notes to EditorsThe Company
GCP Asset Backed is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.
The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.