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22 Mar 2022 11:00
22 March 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR ANY COPY OF IT. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Highbridge Tactical Credit Fund Limited
(the "Company")
Receipt of Shares in the Tactical Credit Fund and sixth and seventh Cash Exit Payments
Further to the Company's circulars to Shareholders dated 31 July 2019 and 28 August 2019, the Company has received sixth and seventh dividend-in-kind distributions of £0.460m of new shares in TCF Feeder (sixth distribution £0.280m and seventh £0.180m). All future distributions from the HMS Master Fund will be received as cash only.
Further announcements will be made when further distributions are received. The Company will continue to be a shareholder of the Highbridge Multi-Strategy Fund Corporation (HCC) until all of the assets of the HMS Master Fund have been liquidated.
Cash Distribution
Following the receipt of the sixth and seventh distributions from Highbridge in connection with realisation of assets comprised in the Initial Redemption Portfolio (created following the Initial Cash Exit Offer) and the Redemption Portfolio (created following the Subsequent Cash Exit Offer) the Company has £1,328,904 available to distribute.
Accordingly, on or around 4 April 2022, approximately £1,317,878 is expected to be paid to Multi-Strat Creditors, equating to £0.016 per Share in respect of the 2019 Cash Exit Offers.
Multi-Strat Creditors are reminded that following this distribution they will receive future redemption proceeds as a number of cash payments following receipt by the Company of the redemption proceeds from HCC, and further announcements will be made when any cash payment is to be made following the realisation of any other assets comprised in the Redemption Portfolio. Any Multi-Strat Creditors whose distribution proceeds fall below £50 will have amounts accrued and paid when proceeds exceed this amount, or, failing to reach this limit, all proceeds will be paid upon the final distribution.
For further information please contact:
Sanne Fund Services (Guernsey) Limited
Company Secretary
Tel: +44 (0) 1481 737 600
LEI: 213800397SYHLYFH5961
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