IN BRIEF: VPC Specialty Lending makes initial payment to investors
VPC Specialty Lending Investments PLC - investor in asset-backed loans to businesses originated by non-bank lenders - Says shareholders approve the B share scheme at a general meeting held last Friday. Following that approval, VPC announces an initial return of capital via the B share scheme. VPV explains the managed wind-down investment policy was approved by shareholders in June 2023. VPC decides to make an initial distribution to shareholders of USD15 million, through the issue and redemption of B shares. The capital to be returned represents around 5.1% of the company's net asset value as at January 31. VPC says it will continue to realise value from its debt and equity positions and will allocate the proceeds between the repayment of borrowings and further returns of capital using the B share scheme, taking into account the foreign exchange and other working capital needs of the company. The timing and amount of future returns remains uncertain. Read More