Last checked at 
13 Sep 2021 10:14
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.
This announcement is released by ICG-Longbow Senior Secured UK Property Debt Investments Limited and contains inside information for the purposes of the UK version of the Market Abuse Regulation (EC No. 594/2014).
13 September 2021
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Return of Capital and NAV
As announced on the 5th August 2021 the Company has received repayment in full of the £5.7 million Halycon loan, following a refinancing of the portfolio securing the loan. The repayment was accompanied by interest and fees of approximately £0.1 million in aggregate. Additionally, the Company has received a partial £1.7 million prepayment of the Quattro loan, following a refinancing of one of the portfolio properties. The Board of Directors of the Company is consequently pleased to announce that it has resolved to return an amount of 5.50 pence per ordinary share to shareholders, being £6,671,653 in total based on the current number of ordinary shares in issue. This return of capital will be effected by way of an issue of redeemable B shares to existing shareholders pro rata to their shareholding on the record date set out below and the subsequent redemption of those B shares.
The Company announces that the estimated unaudited net asset value per ordinary share as at 31 July 2021 was 98.21 pence per ordinary share. The estimated unaudited net asset value per ordinary share as at 31 July as adjusted for the return of capital would be 92.71 pence per ordinary share.
It is expected that the timetable for the return of capital will be as follows:
Ex-date | 16-Sep-21 |
Record date for shareholders on the register to receive B shares | 17-Sep-21 |
121,302,779 B shares issued pro-rata to shareholders on the register as at the record date | 20-Sep-21 |
121,302,779 B shares redeemed at 5.50 pence per share and cancelled | 24-Sep-21 |
Cheques in relation to the redemption payment sent to shareholders that hold their shares in certificated form | 30-Sep-21 |
Redemption payment made through CREST to shareholders who hold their shares in uncertificated form | 30-Sep-21 |
All redemption payments will be paid gross of tax.
For further information, please contact:
Ocorian Administration (Guernsey) Limited | |
Louise Manklow
| +44 (0)14 8174 2742 |
Cenkos Securities: | |
Will Rogers Will Talkington
| +44 (0)20 7397 1920
|
Maitland Consultancy Limited: | |
Vikki Kosmalska | +44 (0)20 7379 5151
|
ICG Real Estate Martin Wheeler David Mortimer |
+44 (0)20 3201 7502 +44 (0)20 3201 7532 |
Further information on the Company can be found on its website at http://www.lbow.co.uk.
ICG Longbow LEI: 2138008BKBH3OP2CA764