REG - Sherborne Inv. C Ld - Statement re Investment Update

Sherborne Investors (Guernsey) CAnnouncement

07/05/2021 07:00

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RNS Number : 8512X  Sherborne Investors (Guernsey)C Ltd  07 May 2021

Sherborne Investors (Guernsey) C Limited

LEI 213800L8QL59OCFOCB40

This announcement contains inside information

7 May 2021

 

Sherborne Investors (Guernsey) C Limited

Investment Update

 

 

The board of Sherborne Investors (Guernsey) C Limited (the "Company") has been
notified by Sherborne Investors Management LP ("Sherborne Investors") that
funds managed by it have disposed of their entire 6.01% shareholding in
Barclays PLC ("Barclays").

 

Sherborne Investors has informed the Company that it believes that the risk of
and rewards from a new investment opportunity that it has identified offers a
better return to the Company's shareholders than a continuing investment in
Barclays. As provided for in the partnership agreement of SIGC, LP
(Incorporated) (the "Partnership") and the Company's investment process as set
out in its prospectus, the independent board of the Company (the "Board") has
reviewed Sherborne Investors' recommendation of a new investment and,
following Board approval, Sherborne Investors has initiated investment into
securities of the new target company.

 

Sherborne Investors has advised the Company that its turnaround assumptions
indicate a potential return on the investment in line with Sherborne
Investors' customary return objectives, and the investment thesis underlying
this will be discussed with shareholders once a disclosable shareholding has
been accumulated.

 

Sherborne Investors manages funds for various clients, including the
Partnership, a limited partnership in which the Company has invested.
Sherborne Investors is the parent of Sherborne Investors Management (Guernsey)
LLC, the investment manager of the Partnership.

 

Giving effect to the transactions, the current Net Asset Value of the Company
is approximately £550 million, or 79p per share.

 

The person responsible for making this announcement is Nick Robilliard of Apex
Fund and Corporate Services (Guernsey) Limited ("Apex"), Company Secretary.

 

-Ends-

 

Enquiries:

 

FTI Consulting
 
            +44 (0)20 3727 1000

Jonathon Brill

James Styles

 

Numis Securities Limited
(Broker)
                          +44 (0)20 7260 1000

David Benda

Nathan Brown

 

Sherborne Investors (Guernsey) C Limited
                        +44 (0)14 8173 5827

Talmai Morgan (Chairman)

Nick Robilliard (Apex, Company Secretary)

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