27th Jun 2025 13:18
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.
[This announcement is released by ICG-Longbow Senior Secured UK Property Debt Investments Limited and contains inside information for the purposes of the UK version of the Market Abuse Regulation (EC No. 594/2014).]
27 June 2025
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Return of Capital and NAV
As announced on 29 May 2025, the Company exchanged contracts to sell the property securing the Affinity loan. This sale has now completed, and the Company received net consideration of £10.1 million, of which approximately £9.7 million should be treated as net capital receipts from the sale (net of costs), and the balance of £0.4 million as income receipts from tenant rents.
The Board of Directors of the Company are consequently pleased to announce that it has resolved to return an amount of 8.00 pence per ordinary share to shareholders, being £9,704,222 in total based on the current number of ordinary shares in issue. This distribution is broadly in line with the capital receipts received from the sale and leaves sufficient cash to meet obligations over the medium term. This return of capital will be effected by way of an issue of redeemable B shares to existing shareholders pro rata to their shareholding on the record date set out below and the subsequent redemption of those B shares.
The estimated unaudited net asset value per ordinary share as at 30 April 2025 was 27.03 pence per ordinary share. The estimated unaudited net asset value per ordinary share as at 30 April 2025 as adjusted for the return of capital would be 19.03 pence per ordinary share.
Post the return of capital, the Company will have returned an amount of 52.9 pence per ordinary share to shareholders, being £64,169,169 in total.
It is expected that the timetable for the return of capital will be as follows:
Ex-date | 3-July-25 |
Record date for shareholders on the register to receive B shares | 4-July-25 |
121,302,779 B shares issued pro-rata to shareholders on the register as at the record date | 7-July-25 |
121,302,779 B shares redeemed at 8.00 pence per share and cancelled | 11-July-25 |
Cheques in relation to the redemption payment sent to shareholders that hold their shares in certificated form | 18-July-25 |
Redemption payment made through CREST to shareholders who hold their shares in uncertificated form | 18-July-25 |
All redemption payments will be paid gross of tax.
For further information, please contact: | ||||||||||
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Further information on the Company can be found on its website at http://www.lbow.co.uk.
ICG Longbow LEI: 2138008BKBH3OP2CA764
Related Shares:
Icg-longbow