ICG-Longbow Snr Sec UK Prop DebtInv Return of Capital and NAV (8939N)

TIDMLBOW

RNS Number : 8939N

ICG-Longbow Snr Sec UK Prop DebtInv

26 January 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.

This announcement is released by ICG-Longbow Senior Secured UK Property Debt Investments Limited and contains inside information for the purposes of the UK version of the Market Abuse Regulation (EC No. 594/2014).

26 January 2023

ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)

Return of Capital and NAV

As announced on the 16(th) January 2023 the Company has received repayment in full of the remaining GBP6.47 million balance of the LBS loan, following a refinancing of the underlying property. The repayment is accompanied by interest and fees of approximately GBP0.3 million in aggregate. The Board of Directors of the Company is consequently pleased to announce that it has resolved to return an amount of 5.50 pence per ordinary share to shareholders, being GBP6,671,653 in total based on the current number of ordinary shares in issue. This return of capital will be effected by way of an issue of redeemable B shares to existing shareholders pro rata to their shareholding on the record date set out below and the subsequent redemption of those B shares.

The estimated unaudited net asset value per ordinary share as at 31 October 2022 was 66.45 pence per ordinary share. The estimated unaudited net asset value per ordinary share as at 31 October as adjusted for the return of capital would be 60.95 pence per ordinary share.

Post the return of capital, the Company will have returned an amount of 37.50 pence per ordinary share to shareholders, being GBP45,488,542 in total.

It is expected that the timetable for the return of capital will be as follows:

 
 Ex-date                                        02-Feb-23 
 
 Record date for shareholders on the register   03-Feb-23 
  to receive B shares 
 
 121,302,779 B shares issued pro-rata to        06-Feb-23 
  shareholders on the register as at the 
  record date 
 
 121,302,779 B shares redeemed at 5.50          10-Feb-23 
  pence per share and cancelled 
 
 Cheques in relation to the redemption          17-Feb-23 
  payment sent to shareholders that hold 
  their shares in certificated form 
 
 Redemption payment made through CREST          17-Feb-23 
  to shareholders who hold their shares 
  in uncertificated form

All redemption payments will be paid gross of tax.

 
 
   For further information, please contact: 
  Ocorian Administration (Guernsey) Limited 
   Louise Manklow         +44 (0)14 8174 2742 
   Cenkos Securities: 
   Will Talkington        +44 (0)20 7397 1910 
    Daniel Balabanoff      +44 (0)20 7397 1909 
   ICG Real Estate 
    David Mortimer         +44 (0)20 3201 7532 
 
   Further information on the Company can be found on its website at    http://www.lbow.co.uk   .

ICG Longbow LEI: 2138008BKBH3OP2CA764

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January 26, 2023 02:00 ET (07:00 GMT)

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