29th Mar 2021 19:21
Fair Oaks Income Ltd - senior secured loans investor - Proposes reorganisation for shareholders looking to extend investment life, by converting 2017 shares into 2021 shares, which will be invested into a new fund, known as Master Fund III, which has a planned end date of June 2028.
Shareholders not wishing to continue investment can elect to have their 2017 shares re-designated as realisation share that will remain in Master Fund II, which has an end date of June 12, 2026.
Also plans to open placing programme for up to USD350 million on April 23, which will close on March 25, 2022, the proceeds from which will go towards funding investments in Master Fund III.
Fair Oaks will hold an extraordinary general meeting on April 16 to gain shareholder approval for the reorganisation.
Current stock price: USD0.62
Year-to-date change: unchanged
By Dayo Laniyan; [email protected]
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