4 May 2018 12:44
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO: ANY US PERSON (AS DEFINED BELOW) OR IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION, OR TO ANY OTHER PERSON, WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAW OR REGULATION
Guernsey, 4 May 2018
Funding Circle SME Income Fund Limited
(the "Company")
Result of share sale from treasury
Further to the announcement on 1 May 2018, the Company is pleased to announce the sale, to a range of existing and new investors, of all of the 24,928,394 Ordinary Shares held in treasury to raise gross proceeds of approximately £25.5 million.
Richard Boléat, Chairman of the Company, commented:
"We are very pleased to have raised further capital to enable the Company to make further loans to small businesses in the UK, US and Continental Europe. The sale was significantly over subscribed and it is therefore the Company's intention, subject to seeking the necessary shareholder and regulatory approvals, to explore further growth opportunities, which may include a potential issue of Ordinary and or C Shares over the next few months."
Following the sale, the Company will have 334,077,606 Ordinary Shares in issue, of which none are held in treasury.
CONTACTS
Richard Boleat, Chairman
+44 (0) 1534 615 656
Richard.Boleat@fcincomefund.com
Secretary and Administrator
Sanne Group (Guernsey) Limited
FundingCircle@sannegroup.com
+44 (0) 1481 739810
Media Contact
David de Koning
Natasha Jones
+44 (0) 20 3667 2245
press@fundingcircle.com
Corporate Broker
Numis Securities Limited
Nathan Brown
+44 (0) 207 260 1426
n.brown@numis.com
Website
www.fcincomefund.com
Investor Relations
ir@fcincomefund.com
DEALING CODES
The ISIN number of the Ordinary Shares is GG00BYYJCZ96, the SEDOL code is BYYJCZ9 and the
TIDM is FCIF.
The LEI number of the Company is 549300ZQIYQVNIZGOW60
ABOUT FUNDING CIRCLE SME INCOME FUND
The Company is a registered closed-ended collective investment scheme registered pursuant to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended and the Registered Collective Investment Scheme Rules 2015 issued by the Guernsey Financial Services Commission (''GFSC'').
The Company's investment objective is to provide shareholders with a sustainable and attractive level of dividend income, primarily by way of investment in Credit Assets as defined in the Company's Prospectus.
The information required to be disclosed by Article 23 of Directive 2011/61/EU on Alternative Investment Fund Managers (and any implementing legislation or regulations thereunder) can be found on the Company's website (http://fcincomefund.com/documents).
IMPORTANT NOTICES
This announcement contains "forward-looking" statements, beliefs or opinions. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of the Company and all of which are based on its directors' current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "projects", "continues", "assumes", "positioned" or "anticipates" or the negative thereof, other variations thereon or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events, assumptions or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Board or the Company with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business concerning, amongst other things, the financial performance, liquidity, prospects, growth and strategies of the Company. These forward looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this announcement. Nothing in this announcement is, or should be relied on as, a promise or representation as to the future. The Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law, the Prospectus Rules, the Listing Rules or the Disclosure Rules and Transparency Rules of the FCA. No statement in this announcement is intended as a forecast or profit estimate.
Neither this announcement nor any copy of it may be made or transmitted into the United States of America (including its territories or possessions, any state of the United States of America and the District of Columbia) (the "United States"), or distributed, directly or indirectly, in the United States or to US persons ("US Persons") as defined in Regulation S under the US Securities Act of 1933, as amended (the "Securities Act")). Neither this announcement nor any copy of it may be taken or transmitted directly or indirectly into Australia, Canada, Japan or South Africa or to any persons in any of those jurisdictions, except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian, Japanese or South African securities laws. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. This announcement does not constitute or form part of any offer to sell or issue, or any solicitation of an offer to purchase, subscribe for or otherwise acquire, securities in the United States, Australia, Canada, Japan or South Africa or in any jurisdiction to whom or in which any such offer or solicitation would be unlawful.
The Treasury Shares have not been and will not be registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold, delivered, pledged or otherwise transferred, directly or indirectly, into or within the United States or to, or for the account or benefit of, any US Persons. The Company has not been and will not be registered under the US Investment Company Act of 1940, as amended (the "US Investment Company Act") and as such investors will not be entitled to the benefits of the US Investment Company Act. There has been and will be no public offering of the Treasury Shares in the United States.
Numis is authorised and regulated in the United Kingdom by the Financial Conduct Authority and is acting for the Company and for no-one else in connection with the arrangements described in this announcement and will not be responsible to any other person for providing the protections afforded to Numis customers in relation to such arrangements nor for providing advice in relation to such arrangements or the contents of this announcement.