23rd Nov 2018 14:49
LONDON (Alliance News) - Carador Income Fund PLC on Friday said it will offer shareholders a vote on an orderly wind-down of the company, as well as the opportunity to roll over their shares into Blackstone/GSO Loan Financing Ltd.
Carador Income is a closed-ended investor incorporated in Ireland and is putting the wind-down to a vote after consultation with its shareholders.
At the end of August, floating rate note investor Blackstone/GSO Loan Financing announced its plan to offer Carador's shareholders the opportunity to roll over their shares should the wind-up go ahead.
Under this, Carador Income shareholders would receive shares in Blackstone/GSO Loan Financing in return for their Carador holdings.
If both the wind down and rollover are approved then Carador Income's assets will be released over time, as and when proceeds accumulate.
No dividends are to be declared during the wind-down period.
Shares in Carador Income were down 0.5% at USD0.63 on Friday, while Blackstone/GSO Loan Financing shares were up 0.3% at EUR0.84.
Related Shares:
Blackstone LoanCIFU.L