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23 Jul 2020 10:42
GCP Infrastructure Investments Limited
("GCP Infra" or the "Company")
LEI 213800W64MNATSIV5Z47
Headline: Dividend Declaration and Scrip Dividend Alternative
23 July 2020
GCP Infra, the only UK listed fund focused primarily on investments in UK infrastructure debt is pleased to announce a dividend of 1.9 pence per ordinary share, for the period from 1 April 2020 to 30 June 2020. The dividend will be paid on 28 August 2020 to holders of ordinary shares recorded on the register as at the close of business on 31 July 2020.
The Company will also be offering a scrip dividend alternative under which shareholders may elect to receive new ordinary shares in lieu of the cash dividend. The price of a new ordinary share to be issued under the scrip dividend alternative will be calculated by taking the average of the Company's closing middle market quotations of an ordinary share for the ex-dividend date of 30 July 2020 and the four subsequent dealing days.
Full details of the scrip dividend alternative can be found in the Scrip Dividend Circular in respect of the financial year ended 30 September 2020 ("Scrip Dividend Circular 2020"), which has been submitted to the National Storage Mechanism and is available for inspection at 12 Castle Street, St Helier, JE2 3RT and on the Company's website at https://www.graviscapital.com/funds/gcp-infra/literature
The reference price for the scrip shares will also be calculated and published on or around 6 August 2020.
Shareholders will receive the dividend in cash unless they have completed either an evergreen standing election ("Scrip Dividend Mandate") (for holders of ordinary shares in certificated form only) or a CREST Dividend Election Input Message (for holders of ordinary shares in CREST only).
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 2020. For shareholders who hold their shares through CREST, a CREST Dividend Election Input Message should be issued on each occasion where a scrip dividend alternative is offered.
Expected timetable:
Shares quoted ex-dividend | 30 July 2020 |
Record date for dividend | 31 July 2020 |
Publication of reference price for scrip dividend alternative | 6 August 2020 |
Final time and date for receipt by the Receiving Agent of Scrip dividend mandates and for submission of CREST elections | 5.00 pm on 17 August 2020
|
CREST stock account credited with new Ordinary Shares | 28 August 2020 |
Dividend payment date | 28 August 2020 |
Dealings commence in new Ordinary Shares | 28 August 2020 |
Gravis Capital Management Limited Phil Kent Dion Di Miceli
| +44 (0)20 3405 8500 |
Stifel Nicolaus Europe Limited Mark Bloomfield Nick Donovan
| +44 (0)20 7710 7600 |
Buchanan/Quill Helen Tarbet Sarah Gibbons-Cook Henry Wilson | +44 (0)20 7466 5000 |
Notes to the Editor
About GCP Infra
GCP Infra is a closed-ended investment company and FTSE-250 constituent whose shares are traded on the main market of the London Stock Exchange. Its objective is to provide shareholders with regular, sustained, long term distributions and to preserve capital over the long term by generating exposure to UK infrastructure debt and related and/or similar assets. The Company primarily targets investments in infrastructure projects with long term, public sector-backed, availability-based revenues. Where possible, investments are structured to benefit from partial inflation-protection. GCP Infra is advised by Gravis Capital Management Limited.
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