Statement re Admission to main market of the Lo...
9 September 2015
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA IF TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS AND REGULATIONS IN SUCH JURISDICTION.
HARBOURVEST GLOBAL PRIVATE EQUITY LIMITED
ADMISSION TO THE MAIN MARKET OF THE LONDON STOCK EXCHANGE
Further to its announcements of 24 July 2015 and 27 August 2015, HarbourVest Global Private Equity Limited (the "Company") announces that its ordinary shares (the "Shares") have today been admitted to trading on the Main Market of the London Stock Exchange ("Main Market") ("Admission").
The Company's transition from the Specialist Fund Market to the Main Market is expected to broaden the appeal of the Shares among key sections of the investment community. A listing on the Official List will also improve the Company's ability to market its Shares to retail investors; an increasingly important source of demand for listed private equity funds. The Board expects that the resulting access to a potentially larger pool of capital is likely to improve liquidity in the Shares.
Furthermore, the Board has taken and will continue to take all such steps as are within its control to facilitate the Company's eligibility for inclusion in the FTSE All Share index, which would help raise the Company's profile in the market. In particular, on Admission, the Company's market quote on the London Stock Exchange has been redenominated into Sterling. There has been no change to the legal form or nature of the Shares as a result of the redenomination of the market quote and the Company's listing on Euronext Amsterdam is not affected. The Company's functional currency will remain the U.S. dollar.
Admission will become effective and dealings in Shares on the Main Market will commence at 8.00 am today.
The ISIN, SEDOL and TIDM for the Shares trading on the Main Market are set out below:
ISIN: GG00BR30MJ80
SEDOL (Euronext): BR30MK9
SEDOL (LSE): BR30MJ8
TIDM: HVPE
Enquiries:
| HarbourVest | ||
| Richard Hickman | Tel: +44 (0) 20 7399 9847 | rhickman@harbourvest.com |
| Laura Thaxter | Tel: +1 (617) 348 3695 | lthaxter@harbourvest.com |
| Fishburn | ||
| Del Jones Ludo Baynham-Herd | Tel: +44 (0) 20 7092 2222 | HVPE@thisisfishburn.com |
About HarbourVest Global Private Equity Limited (the "Company"):
The Company is a Guernsey-incorporated closed-end investment company which has a dual listing on both the London Stock Exchange and Euronext Amsterdam. The Company has received authorisation as an authorised closed-ended investment scheme by the Guernsey Financial Services Commission under section 8 of The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) and the Authorised Closed-ended Investment Schemes Rules 2008 made thereunder. The Company is registered as an investment institution from a designated state (as referred to in section 2:66 FMSA) with the Netherlands Authority for the Financial Markets. The Company is designed to offer shareholders long-term capital appreciation by investing in a private equity portfolio diversified by geography, by stage of investment, by vintage year, and by industry. It invests in and alongside HarbourVest-managed funds which focus on primary partnership commitments, secondary investments, and direct investments in operating companies. The Company is advised by HarbourVest Advisers L.P., an affiliate of HarbourVest Partners, LLC and is not subject to the provisions of the AIFM Directive in connection with the marketing of its shares in the Netherlands.
About HarbourVest Partners, LLC ("HarbourVest"):
HarbourVest Partners, LLC is an independent private markets specialist, providing investment programs and customized solutions focused on venture capital, buyout, mezzanine debt, credit, and real assets through primary fund investments, secondary purchases, and direct co-investments. HarbourVest has more than 300 employees in Asia, Europe, Latin America, and North America. In more than 30 years of investing in private equity, the team has committed more than $29 billion to newly-formed funds, completed over $12 billion in secondary purchases, and invested $4 billion directly in operating companies. The firm's clients include pension funds, endowments, foundations, and financial institutions around the globe.
Disclaimer
This announcement is for information purposes only and does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in any jurisdiction and should not be relied upon in connection with any decision to subscribe for or acquire any Shares. In particular, this announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States or to US Persons (as defined in Regulation S under the US Securities Act of 1933, as amended ("US Persons")). Neither this announcement nor any copy of it may be taken, released, published or distributed, directly or indirectly to US Persons or in or into the United States (including its territories and possessions), Canada, Australia or Japan, or any jurisdiction where such action would be unlawful. Accordingly, recipients represent that they are able to receive this announcement without contravention of any applicable legal or regulatory restrictions in the jurisdiction in which they reside or conduct business. No recipient may distribute, or make available, this announcement (directly or indirectly) to any other person. Recipients of this announcement should inform themselves about and observe any applicable legal requirements in their jurisdictions.
The Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and, accordingly, may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, within the United States or to US Persons except in accordance with an applicable exemption from the Securities Act. In addition, the Company is not registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act") and shareholders of the Company will not have the protections of that act. There will be no public offer of the Shares in the United States or to US Persons.
J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) ("JP Morgan Cazenove") which is authorised in the UK by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (the "FCA"), and Jefferies International Limited ("Jefferies") which is authorised and regulated by the FCA are acting as the Company's joint sponsors (the "Joint Sponsors") in connection with the proposed listing of the Company to the premium segment of the Official List of the United Kingdom Listing Authority ("UKLA") and the proposed admission to trading of the Company's shares on the main market of London Stock Exchange plc (the "Transaction") and will not be acting for any other person, will not regard any other person as a client in relation to the Transaction, and will not be responsible to any person other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove or Jefferies or for advising any other person in respect of the proposed Transaction.
This announcement has been prepared by the Company and its investment manager, HarbourVest Advisers L.P. (the "Investment Manager"). No liability whatsoever (whether in negligence or otherwise) arising directly or indirectly from the use of this announcement is accepted and no representation, warranty or undertaking, express or implied, is or will be made by the Company, the Investment Manager, the Joint Sponsors or any of their respective directors, officers, employees, advisers, representatives or other agents ("Agents") for any information or any of the opinions contained herein or for any errors, omissions or misstatements. None of the Investment Manager, the Joint Sponsors nor any of their respective Agents makes or has been authorised to make any representation or warranties (express or implied) in relation to the Company or as to the truth, accuracy or completeness of this announcement, or any other written or oral statement provided. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in this announcement and nothing in this announcement is or should be relied on as a promise or representation as to the future.
Other than as required by applicable laws, the Company gives no undertaking to update this announcement or any additional information, or to correct any inaccuracies in it which may become apparent and the distribution of this announcement. The information contained in this announcement is given at the date of its publication and is subject to updating, revision and amendment. The contents of this announcement have not been approved by any competent regulatory or supervisory authority.
This announcement includes statements that are, or may be deemed to be, "forward looking statements". These forward looking statements can be identified by the use of forward looking terminology, including the terms "believes", "projects", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could", "should" or "continue" or, in each case, their negative or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the intentions, beliefs or current expectations of the Company. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's ability to control or predict. Forward looking statements are not guarantees of future performance. More detailed information on the potential factors which could affect the financial results of the Company is contained in the Company's public filings and reports.
The Company is registered with the Netherlands Authority for the Financial Markets as a collective investment scheme which may offer participations in The Netherlands pursuant to article 2:66 of the Financial Markets Supervision Act (Wet op het financieel toezicht). All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.
This announcement is issued by the Company, which is registered with the Netherlands Authority for the Financial Markets and whose registered address is PO Box 156 Frances House Sir William Place St Peter Port Guernsey GY1 4EU.
© 2015 HarbourVest Global Private Equity Limited. All rights reserved.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HarbourVest Global Private Equity Limited via Globenewswire
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