REG - Highbridge Tactical - Return of Capital to Shareholders

Highbridge Tactical Credit FundAnnouncement

22/04/2021 15:25

RNS Number : 3530W
  
Highbridge Tactical Credit Fund Ltd
  
22 April 2021
  
 

22 April 2021
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR ANY COPY OF IT. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
 
Highbridge Tactical Credit Fund Limited
(the "Company")
 
Receipt of Shares in the Tactical Credit Fund and Cash Exit Payments
 
Further to the Company's circulars to Shareholders dated 31 July 2019 and 28 August 2019, the Company has received confirmation from Highbridge that it is to receive a dividend-in-kind distribution of approximately £0.36m of new shares in TCF Feeder.
 
Further announcements will be made when further distributions are received. The Company will continue to be a shareholder of the Highbridge Multi-Strategy Fund Corporation (HCC) until all of the assets of the HMS Master Fund have been liquidated.
 
 Cash Distribution
 
The Company has received £1,274,634 from Highbridge in connection with realisation of assets comprised in the Initial Redemption Portfolio (created following the Initial Cash Exit Offer) and the Redemption Portfolio (created following the Subsequent Cash Exit Offer). This is in addition to the cash distribution of £964,968 that had been received in January 2021.  At that time, the Board had determined that it was not economically viable to make a distribution. 
 
Accordingly, on or around 7 May 2021, approximately £2,309,439.00 is expected to be paid to Multi-Strategy Creditors, equating to £0.028 per Share in respect of the 2019 Cash Exit Offers.
 
Multi-Strategy Creditors are reminded that following this distribution they will receive future redemption proceeds as a number of cash payments following receipt by the Company of the redemption proceeds from HCC, and further announcements will be made when any cash payment is to be made following the realisation of any other assets comprised in the Redemption Portfolio.
 
For further information please contact:
 
Praxis Fund Services Limited
Company Secretary
Tel: +44 (0) 1481 737 600
LEI: 213800397SYHLYFH5961
 

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