17th Mar 2016 07:00
17 March 2016
P2P Global Investments plc (the "Company")
UPDATE ON C SHARE CONVERSION - CONVERSION RATIO AND TIMETABLE
Further to its announcement made on 4 March 2016, the Company is pleased to provide the following information regarding the conversion of its C shares into ordinary shares.
Conversion Ratio
The net asset values ("NAVs") attributable to the ordinary shares and the C shares as at the Calculation Date, being the close of business on 15 March 2016, were 1007.47p per ordinary share and 996.14p per C share respectively.
The Conversion Ratio, as calculated in accordance with the Company's articles of association and the prospectus dated 12 January 2015 (the "Prospectus"), is 0.9888 ordinary shares for every one C share held as at close on the conversion record date of 21 March 2016. On the basis of the Conversion Ratio, a holder of 1,000 C shares will receive 988 ordinary shares ("new ordinary shares") upon conversion. The aggregate entitlement of a holder of C shares to new ordinary shares will be rounded down to the nearest whole share. No fractions of new ordinary shares will be issued.
The new ordinary shares arising on conversion will rank pari passu with, and will have the same rights as, the ordinary shares already in issue.
Expected Timetable
The expected timetable for conversion is as follows:
Record date for conversion and closure of C share register | 5.30 p.m. 21 March 2016 |
Cancellation of C shares | 21 March 2016
|
Dealings in new ordinary shares commences | 8.00 a.m. 22 March 2016 |
CREST accounts credited with new ordinary shares in uncertificated form | 22 March 2016 |
Share certificates in respect of new ordinary shares in certificated form dispatched | By 1 April 2016 |
A further announcement will be made in due course.
Enquiries:
Eaglewood Europe LLP | +44 (0)20 7316 2280 |
Simon Champ | |
Liberum Capital Limited Simon Atkinson Tom Fyson Joshua Hughes | +44 (0)20 3100 2000 |
J.P. Morgan Cazenove William Simmonds Charles Pretzlik Jack Heathcoat-Amory | +44 (0)20 7742 4000 |
Media enquiries:
| |
Boscobel & Partners George Trefgarne | + 44 (0)203 642 1310 |
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER TO SELL OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
Neither this announcement nor any part of it constitutes an offer or invitation to underwrite, an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any shares in any jurisdiction and the information contained herein is not for publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, South Africa, Japan or any jurisdiction in which such publication or distribution would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), under the securities legislation of any state of the United States or under the applicable securities laws of Australia, Canada, South Africa or Japan.
Related Shares:
PSSL.L