12 Nov 2019 15:30
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, THE REPUBLIC OF IRELAND, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
Capitalised terms used but not defined in this announcement shall have the meanings given to such terms in the announcement of the Proposed Placing announcement released on 17 October 2019.
RM Secured Direct Lending Plc
("RMDL" or the "Company")
Result of Placing
LEI: 213800RBRIYICC2QC958
RMDL, an investment trust specialising in secured debt instruments, announces that, further to its announcements of 17 October and 6 November 2019, the Company has received commitments from investors for a total of £10.0 million (before costs and expenses) via the Placing.
Accordingly, a total of 10,000,000 new Ordinary Shares have been issued and allotted conditionally upon admission at the Placing Price of 100 pence per Ordinary Share.
Applications have been made for admission of the new Ordinary Shares to listing on the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on 15 November 2019.
Following Admission, the Company will have 122,224,581 Ordinary Shares in issue. Therefore, the total number of voting rights of the Company will be 122,224,581 and 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, or a change to their interest in, the Company.
James Robson, the Chief Investment Officer at RM Funds commented:
"We are delighted with this latest, successful fundraise. The proceeds, combined with our renewed RCF, enables us to invest in our attractive pipeline of high yielding, secured lending opportunities. We are focused on maintaining our portfolio quality and diversity through our disciplined approach to investing in well established businesses, supported by strong security packages. We are confident that as we grow in size, we will continue our strong track record of delivering attractive returns to shareholders."
For further information, please contact:
RM Capital Markets Limited - Investment Manager
James Robson
Pietro Nicholls
Tel: 0131 603 7060
Nplus1 Singer Advisory LLP - Sponsor, Financial Adviser and Broker
James Maxwell
Lauren Kettle
Tel: 020 7496 3000
Tulchan Group - Financial PR
Elizabeth Snow
Deborah Roney
Tel: 0207 353 4200
International Fund Management - AIFM
Chris Hickling
Shaun Robert
Tel: 01481 737600
PraxisIFM Fund Services (UK) Limited - Administrator and Company Secretary
Anthony Lee
Ciara McKillop
Tel: 020 7653 9690
About RM Secured Direct Lending
RM Secured Direct Lending Plc is a closed-ended investment trust established to invest in a portfolio of bespoke, higher-yielding secured debt instruments.
The Company aims to generate attractive and regular dividends through loans sourced or originated by the Investment Manager with a degree of inflation protection through index-linked returns where appropriate. Loans in which the Company invests are predominantly secured against assets such as real estate or plant and machinery and/or income streams such as account receivables.
For more information, please see https://rmdl.co.uk/investor-centre/
About RM Funds
RM Funds is a trading name of RM Capital Markets Limited ("RM"). RM is the Investment Manager to RM Secured Direct Lending PLC. RM specialises in alternative credit fund management, sales & trading, foreign exchange, and capital markets and advisory. Founded in 2010, with offices in Edinburgh, and London, it has transacted in excess of £50 billion of bonds and loans since its inception, and advised or originated, structured and managed the due diligence process for over £1 billion of Sterling credit transactions and approximately €700 million of Euro based transactions in each case since 2012.
Important Information
The content of this announcement has been prepared by, and is the sole responsibility of, RM Secured Direct Lending plc.
The distribution of this announcement and the Placing in certain jurisdictions may be restricted by law. No action has been taken by the Company or Nplus1 Singer Advisory LLP ("N+1 Singer") that would permit an offering of the Ordinary Shares or possession or distribution of this announcement or any other offering or publicity material relating to such Ordinary Shares in any jurisdiction (other than the United Kingdom) where action for that purpose is required. Persons into whose possession this announcement comes are required by the Company or N+1 Singer to inform themselves about, and to observe, such restrictions.
No representation or warranty, express or implied, is made or given by or on behalf of the Company, N+1 Singer, or the Investment Manager or any of their respective directors, partners, officers, employees, agents or advisers or any other person (whether or not referred to in this announcement) as to the accuracy, completeness or fairness of the information contained herein and no responsibility or liability is accepted by any of them for any such information or opinions.
This announcement does not constitute or form part of, and should not be considered as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in the Company or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction.
N+1 Singer, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for the Company and for no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in connection with the Placing. N+1 Singer is not responsible for the contents of this announcement. This does not limit or exclude any responsibilities which N+1 Singer may have under FSMA or the regulatory regime established thereunder or under the regulatory regime of any other jurisdiction where exclusion of liability under the relevant regulatory regime would be illegal, void or unenforceable.