Exercise of Subscription Shares and TVR

RNS Number : 2769D
Cordiant Digital Infrastructure Ltd
01 March 2022
 

LEI: 213800T8RBBWZQ7FTF84

1 March 2022

Cordiant Digital Infrastructure Limited

(the "Company")

 

EXERCISE OF SUBSCRIPTION SHARES

and

TOTAL VOTING RIGHTS

The Company announces that it has today conditionally allotted 119,457 new ordinary shares of no par value ("Ordinary Shares"), each at a price of £1.075 per share following the exercise of the subscription rights attaching to 119,457 of the Company's issued subscription shares of no par value each ("Subscription Shares"). The new Ordinary Shares have been issued conditionally upon admission to trading on the Specialist Fund Segment of the London Stock Exchange plc's main market ("Admission"). An application for Admission will be made to the London Stock Exchange plc and it is expected that Admission will occur at 8.00 a.m. on 7 March 2022. Following Admission, the new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue.

Those Subscription Shares that have been exercised have been redeemed and cancelled by the Company for nil value with effect from 1 March 2022.  There remain 6,435,071 Subscription Shares in issue.

Further exercise of subscription rights

Subscription Shares may be exercised in February and August each year until February 2026 (being the Final Subscription Date). The next Subscription Date for the holders of Subscription Shares will therefore be in August 2022. The Subscription Price will be £1.1731 per share, adjusted for cumulative dividends paid to Ordinary Shares up to the Subscription Date.  Details of this Subscription Date and future Subscription Dates are set out below.

The last date for the exercise of Subscription shares in each month

Applicable subscription date for the relevant month

Proposed admission date of new ordinary shares

Headline price (to which cumulative dividends are taken off when known)

Adjusted price as at 1 March 2022

16/08/2022

31/08/2022

07/09/2022

£1.1881

£1.1731

14/02/2023

28/02/2023

07/03/2023

£1.1881

N/A

16/08/2023

31/08/2023

07/09/2023

£1.2950

N/A

15/02/2024

29/02/2024

07/03/2024

£1.2950

N/A

15/08/2024

30/08/2024

06/09/2024

£1.4116

N/A

14/02/2025

28/02/2025

07/03/2025

£1.4116

N/A

14/08/2025

29/08/2025

05/09/2025

£1.5386

N/A

13/02/2026

27/02/2026

06/03/2026

£1.5386

N/A

 

In relation to exercise of the Subscription Shares, copies of the Certificated Subscription Notice (for use by holders holding subscription shares in certificated form) and the Supplementary Subscription Notice (for use, if required, by holders holding subscription shares in CREST) are available for download from the Company's website at www.cordiantdigitaltrust.com .

Total voting rights

Following Admission, the total number of Ordinary Shares in issue will be 773,288,394, each with equal voting rights.  In addition, the Company will have 6,435,071 Subscription Shares in issue, with no voting rights attached.  No Shares are held in treasury.  Following Admission, the total number of voting rights in the Company will be 773,288,394.

Shareholders should use the figure of 773,288,394 as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms shall have the same meaning attributed to them in the Company's prospectus dated 29 January 2021 (the "Prospectus") unless otherwise defined in this announcement.

 

For further information, please contact:

Cordiant Digital Infrastructure Management Ltd

Investment Manager

Stephen Foss, Managing Director      +44 (0) 20 7201 7546

 

 

Ocorian Administration (Guernsey) Limited

Company Secretary and Administrator

Patrick Ogier  +44 (0) 1481 742742

Eimear Coleman

 

 

Investec Bank plc   +44 (0) 20 7597 4000

Joint Corporate Broker

Tom Skinner (Corporate Broking

Lucy Lewis, Denis Flanagan (Corporate Finance 

 

 

Jefferies International Limited  +44 (0) 20 7029 8000

Joint Corporate Broker

Stuart Klein

Gaudi Le Roux

 

Notes to Editors:

Cordiant Digital Infrastructure Limited primarily invests in the core infrastructure of the digital economy - data centres, fibreoptic networks and broadcast and telecommunication towers - "the plumbing of the internet" - in the UK, Europe and North America. Further details of the Company can be found on the Company's website at www.cordiantdigitaltrust.com.

Cordiant Capital Inc., the Company's investment manager, is a sector-focused investment manager with particular expertise and experience in digital infrastructure. Cordiant invests in global infrastructure and real assets, running infrastructure private equity and infrastructure private credit strategies through limited partnership funds and managed accounts. Cordiant's current client base consists of global insurance companies, pension plans and family offices.

 

 

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