Result of C Share Issue

RNS Number : 6361A

VPC Specialty Lending Invest. PLC

30 September 2015

 

30 September 2015

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

This announcement is an advertisement and does not constitute a prospectus and investors must only subscribe for or purchase any shares referred to in this announcement on the basis of information contained in a prospectus published by VPC Specialty Lending Investments PLC (the "Company") on 8 September 2015 (the "Prospectus") and not in reliance on this announcement. Copies of the Prospectus may, subject to any applicable law, be obtained from the registered office of the Company. This announcement does not constitute and may not be construed as, an offer to sell or an invitation to purchase, investments of any description, a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement or referred to in other written or oral form is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

The shares in the Company have not been, nor will they be, registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. Further, the Company will not be registered under the US Investment Company Act of 1940, as amended (the "US Investment Company Act"). Reproduction or redistribution of this announcement in the United States may be prohibited by law and no recipient of this announcement may reproduce or redistribute this announcement in the United States.

VPC Specialty Lending Investments PLC

Result of C Share Issue

The Company is pleased to announce the results of the Placing, Offer for Subscription and Intermediaries Offer of C Shares (the "Issue").

A total of 183 million C Shares will be issued at a price of £1.00 per Share, of which 170,907,746 C Shares will be issued under the Placing and 12,092,254 C Shares will be issued pursuant to the Offer for Subscription and Intermediaries Offer.

Victory Park Capital Advisors, LLC ("Victory Park Capital") is the Company's investment manager and the net proceeds of the Issue will be invested in opportunities within the specialty lending market primarily through online lending platforms in accordance with the Company's investment policy.

Applications have been made for all of the C Shares issued pursuant to the Issue to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. Admission and commencement of trading is expected to occur at 8.00 a.m. on 2 October 2015.

The ticker symbol for the C Shares will be VSLC, the ISIN will be GB00BVG6X652 and the SEDOL will be BVG6X65.

Jefferies International Limited ("Jefferies") is acting as sole broker, sponsor and bookrunner in relation to the Issue.

Commenting on today's announcement, Andrew Adcock, Chairman of VPC Specialty Lending Investments PLC, said:

"We are very pleased with the success of this fundraising in challenging market conditions. The Issue attracted a number of new investors to the Company with additional support provided by existing shareholders. The Company's Investment Manager continues to see a strong pipeline of investment opportunities across a range of both existing and new specialty lending platforms, many of which are proprietary, that are expected to generate an attractive total return for our shareholders."

Brendan Carroll, Partner and Co-Founder of Victory Park Capital, commented:

"The specialty lending market continues to grow in prominence and scale and is and will continue to be an efficient and effective response to the highly-regulated and changing traditional banking model. VPC has identified high quality, growing and profitable platforms in which to deploy capital, both through balance sheet investing and marketplace loans, giving us confidence in the continuing success and growth of the business and the Company's ability to deliver on our target dividend yield."

Any defined terms used in this announcement are as set out in the Prospectus.

For further information, please contact:

Victory Park Capital Brendan Carroll (Partner and Co-Founder)	via Newgate (below)
Gordon Watson (Principal, Investment Manager)
Jefferies (Sole Broker, Sponsor and Bookrunner)	Tel: [phone]
Gary Gould
Alex Collins Mark James
Newgate (PR Adviser)	Tel: [phone]
James Benjamin Alex Shilov	Email: [e-mail]

IMPORTANT NOTICES AND DISCLAIMERS

The content of this announcement, which has been produced by and is the sole responsibility of the Company, has been approved by Jefferies solely for the purposes of section 21(2) (b) of the Financial Services and Markets Act 2000 (as amended).

This announcement is an advertisement. It does not constitute a prospectus relating to the Company and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract therefor.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

Recipients of this announcement who are considering acquiring C Shares are reminded that any such acquisition must be made only on the basis of the information contained in the Prospectus which may be different from the information contained in this announcement. No reliance may or should be placed by any person for any purposes whatsoever on the information contained in this announcement or on its completeness, accuracy or fairness. The information in this announcement is subject to change. This announcement has not been approved by any competent regulatory authority.

Jefferies, which is authorised and regulated by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Jefferies or advice to any other person in relation to the matters contained herein.

Neither Jefferies nor any of its directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of, the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

In connection with the Issue, Jefferies and any of its affiliates, acting as investors for their own accounts, may subscribe for or purchase C Shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such C Shares and other securities of the Company or related investments in connection with the Issue or otherwise. Accordingly, references in the Prospectus to the C Shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by Jefferies and any of its affiliates acting as investors for their own accounts.

The C Shares to be issued pursuant to the Issue have not been, nor will they be, registered under the US Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada or Japan. Further, the Company will not be registered under the US Investment Company Act. Subject to certain exceptions, the C Shares may not be offered or sold in any member state of the EU other than the United Kingdom, the United States of America, Canada, Australia or Japan or to or for the account or benefit of any national, resident or citizen of any member state of the EU other than the United Kingdom, Canada, Australia or Japan or any person located in the United States (except in transactions that are exempt from, or not subject to, registration under the US Securities Act and that will not cause the Company to be an "investment company" under the US Investment Company Act). The Issue and the distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, strategy, plans, proposed acquisitions and objectives are forward-looking statements.

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the formal Prospectus.  These forward-looking statements speak only as at the date of this announcement. The Company and Jefferies expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Prospectus Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

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