6 Nov 2019 07:00
THIS ANNOUNCEMENT, INCLUDING THE APPENDIX HERETO (TOGETHER THE "ANNOUNCEMENT") AND THE INFORMATION CONTAINED IN IT, IS NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER TO SELL OR ISSUE, OR A SOLICATION OF ANY OFFER TO PURCHASE OR OTHERWISE ACQUIRE, ANY SECURITIES OTHER THAN THE SECURITEIS TO WHICH IT RELATES OR ANY OFFER OR INVIVATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, SUCH SECURITIES BY ANY PERSON IN ANY CIRCUMSTANCES IN WHICH SUCH OFFER OR SOLICATION WOULD BE UNLAWFUL.
RM Secured Direct Lending plc ("RMDL" or the "Company")
update re: Proposed Placing
LEI: 213800RBRIYICC2QC958
Further to its announcement of 17 October 2019 (the "Launch Announcement"), the Board of RMDL, an investment trust specialising in secured debt investments, provides the following update to the expected timetable of its proposed fundraise of up to £10 million through the issue of new ordinary shares of £0.01 each (the "Placing").
The Company confirms that the timetable associated with the Placing is being extended to facilitate further discussions with certain investors with a view to securing a potentially material investment in the Placing. The Proposed Placing is now expected to close at 1.30 p.m. (London time) on 12 November 2019, but may be closed earlier or later at the discretion of the Company and N+1 Singer.
Additional information on the Placing is set out in the Launch Announcement, and the Placing is being made pursuant to the terms and conditions set out in the Appendix to the Launch Announcement. Investors continue to be invited to apply for new Ordinary Shares pursuant to the Placing by contacting their usual contact at N+1 Singer.
The revised timetable associated with the Placing is set out below. Each of the times and dates set out below and mentioned elsewhere in this announcement may be adjusted by the Company, in which event details of the new times and dates will be announced via a Regulatory Information Service. References to a time of day are to London time.
Placing opens | 17 October 2019 | |
Latest time and date for commitments under the Placing | 1.30 p.m. on 12 November 2019 | |
Announcement of results of the Placing | 7.00 a.m. on 13 November 2019 | |
Trade date | 13 November 2019 | |
Admission | 8.00 a.m. on 15 November 2019 | |
Crediting of CREST stock accounts in respect of the new Ordinary Shares | 15 November 2019 |
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
James Macey White
Elizabeth Snow
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.