New City High Yield Fund Ltd : Issue of Equity
2 MAY 2014
NEW CITY HIGH YIELD FUND LIMITED
(the "company")
ISSUE OF EQUITY
The Company announces that it has allotted, by way of a tap issue in response to market demand, 3,000,000 new ordinary shares of no par value (the "New Shares") for cash, at a price of 64.00p per share, a premium to the Company's net asset value, under its placement programme. The New Shares will rank pari passu with the existing ordinary shares and dealings in the New Shares are expected to commence on 8 May 2014. Following the issue of the New Shares, the Company will have the ability to issue a further 13,893,632 ordinary shares under its placement programme.
Following the issue of the New Shares, the Company's issued share capital will consist of 291,405,541 ordinary shares, none of which are held in treasury. Accordingly, with effect from 8 May 2014, the total number of voting rights in the Company will be 291,405,541 and that figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure and Transparency Rules.
Enquiries
For further information please contact:
| Cantor Fitzgerald | |
| Sue Inglis (Corporate Finance) Andrew Worne / Tom Dixon / Andrew Davey (Sales) | 020 7894 8016 020 7894 8529 / 8229 / 8668 |
| New City Investment Managers | |
| Ian Francis Investment Manager | 020 7201 5366 |
| R&H Fund Services | |
| Martin Cassels | 0131 524 6140 |
Important Information
Cantor Fitzgerald Europe, which is authorised and regulated in the United Kingdom by the FCA, is acting solely for the Company and for no one else in connection with the Company's placement programme and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Cantor Fitzgerald Europe or for providing advice in relation to the placement programme. Nothing in this paragraph shall serve to exclude or limit any responsibilities that Cantor Fitzgerald Europe may have under FSMA or the regulatory regime established under FSMA.
This announcement is for information purposes only and does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investments nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: New City High Yield Fund Ltd via Globenewswire
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