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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).
11 January 2022
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Return of Capital and NAV
As announced on the 20th December 2021 the Company has received repayment in full of the £16.2 million GMG loan, following a sale of the underlying property. The repayment is accompanied by interest and exit fees of approximately £0.8 million in aggregate. The Board of Directors of the Company is consequently pleased to announce that it has resolved to return an amount of 14.00 pence per ordinary share to shareholders, being £16,982,389 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 October was 92.70 pence per ordinary share. Adjusting for the returns of capital since, including this 14.00 pence return, the NAV would be 72.20 pence per ordinary share.
Post the return of this capital, the Company will have returned an amount of 26.00 pence per ordinary share to shareholders, being £31,538,722 in total.
It is expected that the timetable for the return of capital will be as follows:
| Ex-date | 13-Jan-22 |
| | |
| Record date for shareholders on the register to receive B shares | 14-Jan-22 |
| | |
| 121,302,779 B shares issued pro-rata to shareholders on the register as at the record date | 17-Jan-22 |
| | |
| 121,302,779 B shares redeemed at 14.00 pence per share and cancelled | 21-Jan-22 |
| | |
| Cheques in relation to the redemption payment sent to shareholders that hold their shares in certificated form | 28-Jan-22 |
| | |
| Redemption payment made through CREST to shareholders who hold their shares in uncertificated form | 28-Jan-22 |
All redemption payments will be paid gross of tax.
For further information, please contact:
| Ocorian Administration (Guernsey) Limited | |
| Rosemary Osborne-Burns
| +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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