REG - Highbridge Tactical - Return of Capital to shareholders

Highbridge Tactical Credit FundAnnouncement

07/06/2021 13:07

RNS Number : 8698Y
  
Highbridge Tactical Credit Fund Ltd
  
17 May 2021
  
 

HIGHBRIDGE TACTICAL CREDIT FUND LIMITED
(the "Company")

Registration No. 44704


Registered Office:

SARNIA HOUSE, LE TRUCHOT, ST PETER PORT,

GUERNSEY GY1 1GR

 
TELEPHONE: +44 1481 737600

FACSIMILE: +44 1481 749829


17 May 2021
 
RETURN OF CAPITAL TO SHAREHOLDERS
 
The Company today announces that it will return £14,682,460.96 (equivalent to £0.83 pence per share) on 20 May 2021 (the "Redemption Date") by way of a compulsory partial redemption of ordinary shares of NPV ("Shares") (the "Redemption"). 
The Redemption will be effected at £2.6986, being the NAV per Share as at 31 March 2021 and pro rata to holdings of Shares on the register at the close of business on the Redemption Record Date, being 20 May 2021. As at today's date, the Company has 17,689,712 Shares in issue of which nil are held held in treasury. On this basis approximately 30.75 percent. of each registered shareholding would be redeemed on the Redemption Date.
Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares. 
All shares that are redeemed will be cancelled with effect from the relevant Redemption Date.   
 
The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00BMXD8491 (the "Old ISIN") will expire. 
 
The new ISIN number GG00BNNFCF17 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 21 May 2021.
 
Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares 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. 
 
Voting Rights as at 21 May 2021 
 
Following the Redemption, the issued share capital of the Company will be 12,248,943 Shares, of which nil will be held in treasury. 
Accordingly, the figure of 12,248,943 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
 
 
The Board anticipates that the Company will receive future distributions from the Master Fund such that further share redemptions may be declared on a quarterly basis. However, shareholders should note that the Board retains absolute discretion as to the execution, pricing and timing of any returns of capital.
 
Expected timetable for redemption: 
 
Posting of redemption notice                                                                     17/05/2021
 
Record Date, Redemption Date and expiry of old ISIN number                20/05/2021
 
New ISIN number enabled                                                                         21/05/2021
 
Redemption monies paid to uncertificated holdings and                            28/05/2021
certificated holdings                                                                              
 
 
LEI: 213800397SYHLYFH5961
 
Enquiries:
 
Company Registrar
JTC Group
Office: +44 (0) 1481 711301 
 
Company Secretary and Administrator
Praxis Fund Services Limited
Office: +44 (0) 1481 737600 
  
Broker
finnCap
DDI: +44 (0) 20 7220 0557
 
 
 
 
 

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