C Share Conversion and Special Dividend (6645S)
24 Noviembre 2011 - 1:00AM
UK Regulatory
TIDMHSLE TIDMHSLE TIDMHSLC
RNS Number : 6645S
HarbourVest Senior Loans Europe Ltd
24 November 2011
24 November 2011
HARBOURVEST SENIOR LOANS EUROPE LIMITED
C SHARE CONVERSION RATIO AND SPECIAL DIVIDEND
Further to its announcement dated 25 October 2011, HarbourVest
Senior Loans Europe Limited ("HSLE" or the "Company") is pleased to
announce the following information in relation to the conversion of
its C Shares.
Conversion Ratio for C Shares
The Net Asset Values attributable to the Ordinary Shares and the
C Shares as at the Calculation Time, being 31 October 2011, were
95.11p per share and 96.07p per share respectively. The Net Asset
Value per C Share takes into account the 0.59p special dividend
payable on the C Shares, as referred to below. The Conversion Ratio
for conversion of the C Shares, as calculated in accordance with
the Company's prospectus dated 15 April 2011 (the "Prospectus"), is
1.0101 Ordinary Shares for every one C Share held.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares
will receive 1,010 Ordinary Shares upon Conversion.
Entitlements will be rounded down to the nearest whole share and
any fractional entitlements will be aggregated and sold in the
market for the benefit of the Company. The Ordinary Shares arising
on Conversion will rank pari passu with, and will have the same
rights as, the Ordinary Shares of the Company already in issue.
Further details of the Conversion and rights attaching to the C
Shares are set out in the Prospectus. Terms defined in the
Prospectus have the same meaning in this announcement unless
otherwise defined.
Expected Timetable
The expected timetable for Conversion is as follows:
Record date for Conversion 9 December 2011
and C Share register closes
Conversion time and dealings 12 December 2011
in new Ordinary Shares commence
----------------------------
Crediting of CREST accounts 12 December 2011
with new Ordinary Shares
----------------------------
Share certificates in respect Week commencing 26 December
of new Ordinary Shares despatched 2011
(as applicable)
----------------------------
The C Shares will permanently be removed from trading on the
London Stock Exchange with effect from the opening of trading at
8.00 a.m. on 12 December 2011. Application will shortly be made to
the UK Listing Authority to give effect to the cancellation of the
C Shares.
Payment of Special Dividend
As set out in the Prospectus, holders of C Shares will be
entitled to a special dividend in respect of income accrued on the
C Share Portfolio Assets from 4 May 2011 until the Conversion Date
(that is, 12 December 2011). The Board is pleased to announce that
a special dividend of 0.59p per C Share will be payable on 12
December 2011 to those holders of C Shares on the register on 2
December 2011.
-ENDS-
For further information:
HarbourVest Senior Loans Europe Limited
Corentin du Roy
Karim Flitti
Tel: +44 (0)20 7399 9820
Liberum Capital Limited (Financial Adviser and Broker)
Chris Bowman / Richard Bootle
Tel: +44 (0)20 3100 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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