Sign In
23 Feb 2018 16:18
23 February 2018
Hadrian's Wall Secured Investments Limited
C Share Conversion Results
The Board of Hadrian's Wall Secured Investments Limited (the "Company") is pleased to announce the results of the C Share conversion.
The Conversion Ratio, as calculated in accordance with the terms set out in the Company's prospectus dated 2 May 2017 (the "Prospectus"), is 0.9951 Ordinary Shares for each C Share held on the record date of 22 February 2018. The NAVs per share of the Ordinary Shares and the C Shares used to determine the Conversion Ratio were 98.03 pence and 97.54 pence respectively. These were based on the NAVs as at 31 January 2018, adjusted as appropriate for income and expenses in the period from, but excluding, 31 January 2018 up to the "Calculation Time", being close of business on 20 February 2018 when the Conversion Ratio was calculated, and by deducting the Q4 2017 dividend of 1.5 pence from the Ordinary Share NAV which went ex-dividend on 15 February 2018. These NAV calculations are after a full adjustment for upfront fees in accordance with IFRS. Entitlements will be rounded down to the nearest whole Ordinary Share.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 995 new Ordinary Shares upon Conversion.
In total 45,003,247 new Ordinary Shares have been allotted pursuant to the C Share conversion. Accordingly, applications have been made for 45,003,247 Ordinary Shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). Admission is expected to occur at 8.00 a.m. on 27 February 2018.
The Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue, including the right to receive dividends declared subsequent to Admission.
With effect from 27 February 2018, the total number of Ordinary Shares in issue will be 125,027,953 and the total number of voting rights in the Company will be 125,027,953. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. No shares are held in Treasury.
Unless otherwise defined, capitalised terms in this announcement shall have the meaning given to them in the Prospectus.
LEI: 213800ABN7VKMVNOLG14
Contact Details
Hadrian's Wall Capital (Investment Adviser)Ron Miao / Mike Schozer Telephone 020 3026 8620
International Fund Management (Investment Manager)Chris Hickling Telephone 01481 737600
Winterflood Investment Trusts (Corporate Broker)Joe Winkley / Neil Morgan Telephone 020 3100 0000
Follow the stocks
