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BRIEF-Board of Ranger Direct Lending Fund to pursue wind-down

Tue 12th June, 2018 7:07am
June 12 (Reuters) - Ranger Direct Lending Fund PLC  RDL.L :
    * RANGER BOARD ANNOUNCED TODAY THAT ARES HAS WITHDRAWN ITS
PROPOSAL TO BE APPOINTED COMPANY'S INVESTMENT MANAGER AND THAT
BOARD WILL NOW PURSUE A WIND-DOWN.
    * WE ARE PLEASED THAT SIGNIFICANT SHAREHOLDER SUPPORT FOR
BOARD
CHANGE HAS LED ARES TO WITHDRAW THEIR PROPOSAL AND BOARD TO COME
TO CONCLUSION THAT REALIZING ASSETS OF COMPANY IN AN ORDERLY
MANNER IS BEST WAY TO PROTECT SHAREHOLDER VALUE.
    * WE URGE BOARD TO PUT INTEREST OF SHAREHOLDERS FIRST AND DO
RIGHT
THING BY IMMEDIATELY ENTERING INTO DISCUSSION WITH OAKTREE TO
ADD OAKTREE'S NOMINEES INSTEAD OF CONTINUING WITH A COSTLY,
DISTRACTING AND MISGUIDED EFFORT TO BLOCK HIGHLY-QUALIFIED,
SHAREHOLDER-SUPPORTED NOMINEES.
    * OAKTREE'S NOMINEES, DOMINIK DOLENEC AND GREG SHARE,
PROVIDE
MUCH-NEEDED ADDITIONAL OVERSIGHT AND EXPERIENCE TO THIS COMPLEX
PROCESS.

Source text for Eikon:  ID:nBw6zhKK1a 
Further company coverage:  RDL.L 

 (Reporting By Sinead Cruise)
 ((sinead.cruise@thomsonreuters.com;))
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