REG - GCP Asset Backed Inc - Notices of AGM & EGM

GCP Asset Backed Income FundAnnouncement

02/05/2024 10:00

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RNS Number : 9802M  GCP Asset Backed Income Fund Ltd  02 May 2024

GCP Asset Backed Income Fund Limited

 

(the "Company" or "GCP Asset Backed")

 

LEI: 213800FBBZCQMP73A815

 

Notices of Annual General Meeting & Extraordinary General Meeting

 

2 May 2024

 

GCP Asset Backed, a London listed investment company which invests in a
diversified portfolio of asset backed loans, has today made available to
shareholders the following documents:

 

-      a circular relating to the business of, and incorporating a notice
convening, its 2024 Annual General Meeting ("AGM Circular");

-      a circular relating to the business of, and incorporating a notice
convening, an Extraordinary General Meeting ("EGM Circular" and together with
the AGM Circular, the "Circulars");

-      forms of proxy for the 2024 Annual General Meeting ("AGM") and the
Extraordinary General Meeting ("EGM"); and

-      proposed revised articles of association of the Company.

 

The AGM Circular sets out details of the resolutions being put to shareholders
at the AGM, including the proposed discontinuation of the Company
("Discontinuation Resolution").

 

The EGM Circular sets out the details of the Board's proposals (i) to amend
the Company's investment objective and policy to enable the Board to pursue a
strategy of orderly realisation and return capital to shareholders over time;
(ii) to amend its articles of association to provide for compulsory
redemptions of shares in the Company in order to facilitate the return of
capital to shareholders; and (iii) to make certain amendments to the Company's
existing investment management agreement with Gravis Capital Management
Limited by way of a side letter ("Side Letter"). The implementation of these
proposals is conditional on the approval of the Discontinuation Resolution at
the AGM and the approval of the resolutions to be proposed at the EGM.

 

The Company's entry into the Side Letter constitutes a smaller related party
transaction under the Listing Rules. The Board has been advised on the terms
of this smaller related party transaction by Dickson Minto Advisers LLP
(acting in its capacity as sponsor to the Company).

 

Further details of the resolutions, together with notices convening the AGM
and EGM, are set out in the Circulars. The AGM and EGM will be held at 10:00
a.m. and 10:15 a.m., respectively, on Monday, 20 May 2024 at IFC 5, St Helier,
Jersey JE1 1ST.

 

The Circulars have been posted to shareholders, submitted to the National
Storage Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) . A copy can also be
obtained from the Company Secretary or from the Company's website at
https://www.graviscapital.com/funds/gcp-asset-backed/fund-info
(https://www.graviscapital.com/funds/gcp-asset-backed/fund-info) .

 

For further information, please contact:
 

 GCP Asset Backed Income Fund Limited                          +44 (0)15 3482 2251

 Alex Ohlsson (Chairman)

 Gravis Capital Management Ltd (Investment Manager)            +44 (0)20 3405 8500
 Philip Kent
 Cameron Gardner

 Anthony Curl

 Barclays Bank plc (Financial Adviser and Corporate Broker)    +44 (0)20 7623 2323
 Dion Di Miceli
 Stuart Muress
 James Atkinson

 Buchanan/Quill (Press Communications)                         +44 (0)20 7466 5000
 Helen Tarbet
 Sarah Gibbons-Cook
 Henry Wilson

 Dickson Minto Advisers LLP (Sponsor to the Company)           +44 (0)20 7649 6823

 Douglas Armstrong

 

 

Notes to Editor

 

GCP Asset Backed is a closed ended investment company traded on the Premium
Segment of the Main Market of the London Stock Exchange. Its investment
objective is to generate attractive risk-adjusted returns primarily through
regular, growing distributions and modest capital appreciation over the long
term.

The Company seeks to meet its investment objective by making investments in a
diversified portfolio of predominantly UK based asset backed loans which are
secured against contracted, predictable medium to long term cash flows and/or
physical assets.

 

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