23 May 2024
Blackstone Loan Financing Limited
(the "Company")
Compulsory Partial Redemption of Shares
Further to the approval given by the Company's shareholders to enable compulsory redemptions of the Company's ordinary shares ("Shares"), as described in the circular dated 25 August 2023 (the "Circular"), the Company today announces that it will return approximately €23,000,000 by way of a compulsory partial redemption of up to 24,779,142 Shares (the "First Redemption") on 10 June 2024 (the "Redemption Date"). Approximately 5.5968% of the existing Shares will be redeemed.
The First Redemption will be effected at €0.9282 per Share, being the NAV per Share as at 30 April 2024. The First Redemption will be effected pro-rata to holdings of such shares on the register at close of business on 10 June 2024 ("Redemption Record Time"). As at today's date, the Company has 442,738,903 Shares in issue, of which none are held in treasury.
On this basis, a holder of 10,000 Shares will have 559 Shares redeemed, and receive €518.86 in cash.
Fractions of Shares will not be redeemed and so the number of Shares held by each shareholder to be redeemed compulsorily on the Redemption Date will be rounded down to the nearest whole number of Shares.
The amount to be applied to the partial redemption of Shares comprises monies from the Company's existing cash balances.
All Shares that are redeemed will be cancelled with effect from the Redemption Date. Accordingly, once redeemed, such Shares will be incapable of transfer.
The Shares will be disabled in CREST after close of business on the Redemption Date and the existing ISIN number JE00BNCB5T53 (the "Old ISIN") will expire.
The new ISIN number JE00BSMSML25 (the "New ISIN") in respect of the remaining Shares, which have not been redeemed and will be in issue and listed following the Redemption Date and will be enabled and available for transactions from and including 11 June 2024.
Up to and including the Redemption Date, the Shares will continue to be traded under the Old ISIN and as such, a purchaser of such Shares who was not on the register as at the Redemption Record Time would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.
Shareholders should note that the Board retains absolute discretion as to the execution, extent and timing of any further redemptions.
Expected timetable for redemption
The anticipated dates and sequence of events relating to the implementation of the Proposals are set out below:
| First Redemption Record Date | 6:00pm on 10 June 2024 |
| First Redemption Date and expiry of Old ISIN number | 10 June 2024 |
| First Redemption Ex Date | 11 June 2024 |
| New ISIN number enabled JE00BSMSML25 | 11 June 2024 |
| Redemption monies paid to uncertificated holdings and certificated holdings | 24 June 2024 |
Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.
Enquiries:
| Blackstone
| via BNP Paribas |
| BNP Paribas
| 01534 709189 / 709108 |
| Singer Capital Markets James Maxwell / Alaina Wong (Corporate Finance) Alan Geeves / Sam Greatrex (Sales)
| 020 7496 3000
|
|
Winterflood Investment Trusts Neil Langford (Corporate Finance) Darren Willis (Sales) |
020 3100 0000 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.