Schroder BSC Social - Result of Placing
18/11/2021 07:00
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RNS Number : 7464S Schroder BSC Social Impact Trust 18 November 2021
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18 November 2021
Schroder BSC Social Impact Trust plc
Result of Placing
The Board of Schroder BSC Social Impact Trust plc ("SBSI" or the "Company") is
pleased to announce that the Company has raised £10.8 million pursuant to the
placing (the "Placing") announced on 2 November 2021 (the "Placing
Announcement"). Accordingly, the Company will issue a total of 10,316,586 New
Ordinary Shares at the placing price of 105 pence per New Ordinary Share.
SBSI intends to use the net proceeds of the Placing to invest in a near term
pipeline of attractive opportunities in line with the Company's investment
objective and investment policy.
Applications have been made to the Financial Conduct Authority for admission
of 10,316,586 New Ordinary Shares to the premium segment of the Official List
and to the London Stock Exchange for admission to trading of the New Ordinary
Shares on its main market for listed securities ("Admission"). It is
expected that Admission will become effective at or around 8.00 a.m. on 22
November 2021 and that dealings in the New Ordinary Shares will commence at
that time.
The New Ordinary Shares will, when issued, be credited as fully paid and rank
pari passu with the existing Ordinary Shares in the capital of the Company,
including the right to receive all future dividends and distributions
declared, made or paid, save for the dividend declared by the Company on 21
October 2021 which will be paid on 3 December 2021.
Immediately following Admission, the Company's issued share capital will
consist of 85,316,586 Ordinary Shares with voting rights. This figure may be
used by shareholders in determining the denominator for the calculation by
which they will establish 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.
Susannah Nicklin, Chair of the Company, commented:
"We are delighted to have raised additional capital which can be invested in
new and existing projects that assist in addressing many deep-rooted social
issues, including homelessness, uneven health outcomes, rising income
inequality and unequal life opportunities. The Company has made good progress
over the 12 months since launch having made investments supporting over 100
front-line organisations and delivering attractive returns for shareholders.
We would like to thank shareholders for their continued support and welcome
new investors to the Company."
Terms used in this announcement shall, unless the context otherwise requires,
bear the meanings given to them in the Placing Announcement, which can be
found on SBSI's webpage: www.schroders.com/SBSI
(http://www.schroders.com/SBSI) .
For further information please contact:
Schroders
John Spedding 020 7658 3206
Jonathon McManus 020 7658 4667
Estelle Bibby (Press) 020 7658 3431
Big Society Capital
Georgette Harrison/Emma Hickinbotham, georgette-emma@bigsocietycapital.com
Senior Communications Directors (job share)
James Westhead, Head of Engagement jwesthead@bigsocietycapital.com
Winterflood Securities Limited 020 3100 0000
Darren Willis (Corporate Sales)
Neil Langford (Corporate Finance)
Hande Derinkok (Corporate Finance)
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