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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).
18 May 2022
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Return of Capital and NAV
As announced on the 26th April 2022 the Company has received repayment in full of the remaining £6.0 million balance of the Quattro loan, following a refinancing of the security portfolio. The repayment is accompanied by interest and fees of approximately £0.5 million in aggregate. The Board of Directors of the Company is consequently pleased to announce that it has resolved to return an amount of 6.00 pence per ordinary share to shareholders, being £7,278,167 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 estimated unaudited net asset value per ordinary share as at 31 January 2022 was 72.35 pence per ordinary share. The estimated unaudited net asset value per ordinary share as at 31 January as adjusted for the return of capital would be 66.35 pence per ordinary share.
Post the return of capital, the Company will have returned an amount of 32.00 pence per ordinary share to shareholders, being £38,816,889 in total.
It is expected that the timetable for the return of capital will be as follows:
| Ex-date | 26-May-22 |
| | |
| Record date for shareholders on the register to receive B shares | 27-May-22 |
| | |
| 121,302,779 B shares issued pro-rata to shareholders on the register as at the record date | 30-May-22 |
| | |
| 121,302,779 B shares redeemed at 6.00 pence per share and cancelled | 6-Jun-22 |
| | |
| Cheques in relation to the redemption payment sent to shareholders that hold their shares in certificated form | 13-Jun-22 |
| | |
| Redemption payment made through CREST to shareholders who hold their shares in uncertificated form | 13-Jun-22 |
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
|
| 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
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