Blackstone Loan Financing Limited (the "Company")
19 December 2024
Results of Extraordinary General Meeting
Blackstone Loan Financing Limited announces that at the Extraordinary General Meeting (the "EGM") held earlier today, the ordinary resolution in connection with the proposed sale by the Company of 100% of the PPNs issued by BCF and held by LuxCo was duly passed by shareholders.
The proxy votes received on the resolution proposed at the EGM will shortly be available for inspection on the Company's website (http://blackstone.com/bglf).
The full text of the resolution can be found in the Notice of Meeting published on 04 December 2024, copies of which are available for viewing on the Company's website (http://blackstone.com/bglf) and at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Timing & Conditions to Completion
Completion of the Proposed Transaction is expected to occur on 31 December 2024, subject to the Purchaser's right under the terms of the Sale and Purchase Agreement to postpone the completion date for up to 20 Business Days thereafter. Following the passing of the First EGM Resolution at the First EGM held today, the sole remaining Condition to the Proposed Transaction is no event of default under the LuxCo PPNIPA having occurred and not having been waived or cured.
Second EGM
As a result of the First EGM Resolution passing, the Second EGM will be held on 15 January 2025 at 11.00 a.m.
The Resolution to be considered at the Second EGM Resolution is a Special Resolution and will, if passed, approve the Summary Winding-up of the Company in accordance with the provisions of the Companies (Jersey) Law 1991.
Expected Timetable of Events
| Payment date of Second Redemption
| 19 December 2024 |
| Anticipated completion date of Proposed Transaction
| 31 December 2024 |
| Latest time and date for receipt of Proxy Appointments for the Second EGM*
| 11.00 a.m. on 13 January 2025 |
| Record date for participation and voting at the Second EGM*
| 5.00 p.m. on 13 January 2025 |
| Suspension of the listing of the Shares on the Official List and of trading of the Shares on the Main Market*
| 7.00 a.m. on 15 January 2025 |
| Second EGM*
| 11.00 a.m. on 15 January 2025 |
| Announcement of result of the Second EGM*
| 15 January 2025 |
| Commencement of the Summary Winding-up (conditional on approval of the Second EGM Resolution)*
| 15 January 2025 |
| Record date for Third Redemption*
| 5.00 p.m. on 15 January 2025 |
| Cancellation of the listing of the Shares on the Official List and cancellation of admission to trading of the Shares on the Main Market*
| 8.00 a.m. on 16 January 2025 |
| Payment date of Third Redemption* ** | Expected to be by 4 February 2025 or as soon as possible thereafter |
* Events subject to postponement in the event of a delay in completion of the Proposed Transaction and/or in the receipt by the Company of any requisite regulatory consents.
** The Company will make a Redemption Announcement through an RIS in advance of the Third Redemption confirming exact details of the timing and amount of the redemption payment to be made to Shareholders.
Each of the times and dates in the expected timetable of events may be extended or brought forward without notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through an RIS provider. All references are to London time unless otherwise stated.
Publication of NAV
As referenced in the circular published to shareholders on 04 December 2024 (the "Circular"), as a result of the Proposed Transaction being approved by Shareholders at the First EGM, the Company will cease to publish its monthly NAV (including the 30 November 2024 NAV, which would ordinarily have been published today).
Unless otherwise stated, capitalised terms in this announcement have the meanings ascribed to them in the Circular.
For further information, please contact:
| BGLF Steven Wilderspin (Chair)
| Via Singer Capital Markets |
| Singer Capital Markets (Financial Adviser & Joint Corporate Broker to the Company) James Maxwell / Alaina Wong / Oliver Platts (Corporate Finance) Alan Geeves / Sam Greatrex (Sales) | 020 7496 3000 |
| BNP Paribas (Company Secretary to the Company)
| 01534 709189 / 709108 |
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