GLIF.L Regulatory News (GLIF)

25 Jun 2007 18:19

T2 Income Fund Limited25 June 2007 RNS Number:T2 Income Fund Limited25 June 2007 Not for release, publication or distribution in, or into, the United States,Australia, Canada or Japan 25 June 2007 T2 Income Fund Limited RESULT OF PLACING OF NEW ORDINARY SHARES T2 Income Fund Limited (the "Company") announces that, further to theannouncement on 22 June 2007 (the "Announcement"), a total of 5 million newordinary shares in the Company (the "Placing Shares") have been placed byJPMorgan Cazenove at a price of 101.75 pence per Placing Share, raising grossproceeds of approximately £5,087,500 (the "Placing"). The Placing Shares will be issued credited as fully paid and will rank paripassu with the Company's existing ordinary shares, including the right toreceive all dividends and other distributions declared, made or paid on or inrespect of such shares after the date of issue of the Placing Shares.Application has been made for admission of such Shares to trading on the AIMMarket of the London Stock Exchange plc. Grant Thornton Corporate Finance actsas Nominated Adviser to the Company. Dealings in these Placing Shares areexpected to commence on 28 June 2007. Following admission of these PlacingShares there will be 43,000,000 ordinary shares in issue. Jonathan Cohen, chief executive officer of the Investment Manager, and SaulRosenthal, president of the Investment Manager and Non-Independent Director ofthe Company both participated in the placing subscribing for 125,000 PlacingShares each, taking their existing holdings in the Company to 129,000 ordinaryshares (0.3% of the total voting rights of the Company) and 125,000 ordinaryshares (0.3% of the total voting rights of the Company) respectively. Mr Cohenand Mr Rosenthal additionally each hold an interest through an option previouslygranted to the Investment Manager by the Company of 1,194,444 ordinary shares(2.5% of the total voting rights of the Company, on the basis of the issuedshare capital of the Company following exercise of the option). The shareholdings of existing substantial shareholders may change following theissue of the Placing Shares. The Company will issue a notification at a laterdate if it becomes aware of any relevant changes in such shareholdings that arerequired to be notified in accordance with Rule 17 of the AIM Rules. Enquiries: T2 Income Fund Limited:T2 Income Fund Limited:Patrick Conroy, +1 203 983 5282 Grant Thornton Corporate Finance (Nominated Adviser):Philip Secrett / Fiona Kindness, +44 207 383 5100 JPMorgan Cazenove:Angus Gordon Lennox, +44 207 588 2828 Defined terms used in this announcement have, unless the context otherwiserequires, the same meaning given to them in the Announcement. This announcement has been issued by and is the sole responsibility of T2 IncomeFund Limited. JPMorgan Cazenove is acting for the Company and no-one else in relation to thePlacing and will not be responsible to any person other than the Company forproviding the protections afforded to clients or for providing advice inrelation to the Placing or in relation to the contents of this announcement orany other transaction, arrangement or matter referred to herein. This announcement is for information purposes only and does not constitute anoffer to issue or sell, or the solicitation of an offer to acquire or buy, anysecurities to any person in any jurisdiction. In particular, this announcementdoes not constitute an offer to issue or sell, or the solicitation of an offerto acquire, buy or subscribe for, any securities in the United States, Canada,Australia and Japan. The Placing Shares have not been, nor will they be, registered under theSecurities Act or with any securities regulatory authority of any State or otherjurisdiction of the United States, and accordingly may not be offered, sold ortransferred within the United States except pursuant to an exemption from, or ina transaction not subject to, registration under the Securities Act. No publicoffering of the Placing shares will be made in the United States. The PlacingShares are being offered and sold outside the United States to persons who arenot U.S. persons as defined in and in accordance with Regulation S under theSecurities Act ("U.S. Persons"). The Company has not been and will not beregistered under the Investment Company Act and investors will not be entitledto the benefits of such registration. This information is provided by RNS The company news service from the London Stock Exchange