Gcp Asset Bckd Regulatory News (GABI)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

4 March 2024

GCP Asset Backed Income Fund Limited

("GABI" or the "Company")

LEI: 213800FBBZCQMP73A815

Strategic Review Update

On 29 January 2024, the Company announced that the board of GABI (the "Board") would be seeking shareholder feedback to inform its decision-making process in connection with the strategic review to consider how it may best deliver value to shareholders (the "Strategic Review").

The Board has today completed the shareholder consultation period in connection with the Strategic Review. Feedback has been provided to the Board by shareholders representing a majority of total voting rights in the Company. Views were canvassed on the future strategic direction of the Company, including in relation to: (i) a potential continuation of the Company in accordance with its current investment policy delivered by the Investment Manager, Gravis Capital Management Ltd; (ii) a suitable time horizon for the return of capital in a potential orderly wind-down of the Company; and (iii) acceptable pricing on a potential sale of the Company.

Shareholders have expressed a broad range of views throughout the consultation period. The Board is in the process of collating and reviewing the shareholder feedback and will announce the outcome of the Strategic Review in the week commencing 11 March 2024. The Board also expects to announce an update in relation to succession planning in respect of Board composition at that time.

The Board continues to consider a sale of the entire issued share capital of the Company as an option for the Company's future.

Alex Ohlsson, Chairman of GABI, commented:

"The Board is grateful to shareholders for their engagement in providing feedback in connection with the strategic review. This feedback will inform the Board's decision-making process for the future of the Company."

For further information:

GCP Asset Backed Income Fund Limited | +44 (0)15 3482 2251

Alex Ohlsson, Chairman

Barclays Bank PLC, acting through its Investment Bank (Financial Adviser and Corporate Broker) | +44 (0)20 7623 2323

Adrian Beidas

Callum West

Dion Di Miceli (Corporate Broking)

Stuart Muress (Corporate Broking)

About GABI

GABI is a closed-ended investment company traded on the Main Market of the LSE. The company makes investments secured against physical assets or contracted cash flows, in sectors which are integral to society.

Important notices

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise.

The release, distribution or publication of this announcement in jurisdictions outside the United Kingdom may be restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Disclaimer

Barclays Bank PLC, acting through its Investment Bank ("Barclays"), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for the Company and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Barclays nor for providing advice in relation to any matter referred to in this announcement.

In accordance with the Code, normal United Kingdom market practice and Rule 14e-5(b) of the Exchange Act, Barclays and its affiliates will continue to act as exempt principal trader in the Company's securities on the London Stock Exchange. These purchases and activities by exempt principal traders which are required to be made public in the United Kingdom pursuant to the Code will be reported to a Regulatory Information Service and will be available on the London Stock Exchange website at www.londonstockexchange.com. This information will also be publicly disclosed in the United States to the extent that such information is made public in the United Kingdom.

Rule 26.1 disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at https://www.graviscapital.com/funds/gabi-strategic-review/literature by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.