Information  X 
Enter a valid email address

BioPharma Credit PLC (BPCR)

  Print      Mail a friend

Friday 19 October, 2018

BioPharma Credit PLC

Conversion of C Shares

RNS Number : 5338E
BioPharma Credit PLC
19 October 2018
 

BIOPHARMA CREDIT PLC

 

(The "Company")

 

Conversion of C Shares

 

Further to the Company's announcement on 20 September 2018 regarding its investment in Amicus Therapeutics, Inc., and following the funding of this investment, the assets attributable to the C Shares are now 100 per cent. invested. The C Shares are therefore intended to be converted to Ordinary Shares.

 

In accordance with the Prospectus issued on 14 March 2018 and the Company's Articles of Association, the conversion of the Company's C Shares into Ordinary Shares will take place at the following rate:

 

0.98984 Ordinary Shares for every C Share (the "Conversion Ratio")

 

On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 989 Ordinary Shares.

 

The maximum number of Ordinary Shares arising on conversion of the C Shares would be 162,118,278. Any fractional entitlements will be cancelled by the Company.

 

It is expected that conversion will occur in accordance with the following timetable:

 

 

Conversion calculation date                                                                            30 September 2018

 

Announcement of 30 September 2018 NAV                                                   19 October 2018

 

Suspension of C Shares from trading                                                              26 October 2018 at 7.30 am

 

Record date                                                                                                     26 October at 6.00 pm

 

Admission and commencement of trading of new Ordinary Shares                29 October 2018 at 8.00 am       

 

Cancellation of C Shares                                                                                 29 October 2018 at 8.00 am

 

 

The Company has made an application for the new Ordinary Shares to be admitted to trading on the Specialist Fund Segment of the Main Market of London Stock Exchange and to listing and trading on the Official List of The International Stock Exchange from 8.00 am 29 October 2018.

 

The Ordinary Shares arising upon the completion of the conversion of the C Shares will rank pari passu with the existing Ordinary Shares with respect to the interim dividend declared by the Company with respect to the  financial period ending 30 September 2018, as well as any future dividends declared with respect to the Ordinary Shares.

 

Share certificates in respect of new Ordinary Shares are expected to be despatched by 7 November 2018.

 

 

LEI: 213800AV55PYXAS7SY24

 

Link Company Matters Limited

Company Secretary

 

19 October 2018

 

Enquiries:

Buchanan

 

David Rydell / Mark Court/ Jamie Hooper/ Henry Wilson

+44 (0)20 7466 5000

[email protected]

 

Notes to Editors

 

BioPharma Credit PLC is London's only listed specialist investor in debt from the life sciences industry and joined the LSE on 27 March 2017. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
CONFFLFMAFASEES

a d v e r t i s e m e n t