TIDMPINT
RNS Number : 0241Y
Pantheon Infrastructure PLC
02 September 2022
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, NEW
ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF
THE EEA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION,
DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.
PANTHEON INFRASTRUCTURE PLC
Final Exercise of Subscription Rights
and
Total Voting Rights
2 September 2022
Pantheon Infrastructure PLC ("PINT" or the "Company"), the
listed global infrastructure fund, announces that following the
exercise of Subscription Rights and payment of the Subscription
Price (being 101 pence per Ordinary Share) in respect of 24,117,160
Subscription Shares on 31 August 2022 (the "Final Exercise Date"),
24,117,160 Subscription Shares have conditionally converted into
24,117,160 Ordinary Shares (the "New Ordinary Shares"). The
conversion has occurred conditional upon admission of the New
Ordinary Shares to the premium segment of the Official List and to
trading on the Main Market of London Stock Exchange plc
("Admission").
Final Subscription Trustee
In addition, the Company has been informed by the Final
Subscription Trustee, appointed pursuant to the Articles as
described in paragraph 8.8 of Part 9 of the prospectus published by
the Company on 13 October 2021 (the "Prospectus"), that it is
exercising the Subscription Rights attaching to the 6,184,628
outstanding Subscription Shares on the same terms. The Final
Subscription Trustee has sold the additional New Ordinary Shares
arising on conversion of the outstanding Subscription Shares for
the benefit of the Subscription Shareholders who have not exercised
their Subscription Rights.
Subscription Shareholders on whose behalf the Trustee has
exercised the outstanding Subscription Rights, and is selling the
resulting New Ordinary Shares arising on conversion of the
Subscription Shares, will receive the net proceeds of such sale
after deduction of the Subscription Price and all costs and
expenses. Net proceeds should be received by no later than 16
September 2022 provided that aggregate entitlements per holder of
under GBP5.00 shall be retained for the benefit of the Company.
Application for Admission
Application has therefore been made for the Admission of, in
aggregate, 30,301,788 New Ordinary Shares arising on conversion of
the Subscription Shares. It is expected that dealings in the New
Ordinary Shares will commence at 8.00 a.m. on 9 September 2022.
Following Admission, the New Ordinary Shares will rank pari passu
with the existing Ordinary Shares in issue.
Total Voting Rights
On Admission, the Company's issued share capital will comprise
480,000,000 Ordinary Shares each carrying one vote per share.
Shareholders should use 480,000,000 as the denominator for the
calculations by which they should determine whether or not they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Capitalised terms used in this announcement and not otherwise
defined herein shall have the same meaning attributed to them in
the Prospectus.
This final exercise of Subscription Rights marks the conversion
of all 80 million Subscription Shares issued at IPO, raising gross
proceeds of GBP80.8 million.
Richard Sem, Partner at Pantheon Ventures , PINT's investment
manager , said: "We're delighted with the strong demand we've seen
among investors to exercise their Subscription Share rights. An
investment in PINT offers exposure to a high-quality mix of
yielding and growth assets with strong downside protection, which
is particularly attractive in the current environment, and the
strong uptake of PINT's Subscription Shares demonstrates the
continued confidence in and appeal of the strategy."
LEI 213800CKJXQX64XMRK69
For further information, contact:
Link Company Matters Limited pintcosec@linkgroup.co.uk
Investec Bank plc +44 (0) 20 7597 4000
Corporate Broker
Tom Skinner (Corporate Broking)
Lucy Lewis (Corporate Finance)
TB Cardew +44 (0) 20 7930 0777
Public relations advisor pint@tbcardew.com
Ed Orlebar +44 (0)7738 724 630
Tania Wild +44 (0)7425 536 903
Max Gibson +44 (0)7435 791 368
Notes to editors
PINT
PINT is a closed-ended investment company and an approved UK
Investment Trust, listed on the Premium Segment of the London Stock
Exchange's Main Market. The independent Board of Directors of PINT
have appointed Pantheon, one of the leading private markets
investment managers globally, as investment manager. PINT aims to
provide exposure to a global, diversified portfolio of high-quality
infrastructure assets through building a portfolio of direct
co-investments in infrastructure assets with strong defensive
characteristics, typically benefitting from contracted cash flows,
inflation protection and conservative leverage profiles.
Pantheon
Pantheon is a leading global private equity, infrastructure
& real assets, private debt and real estate investor with 40
years' experience sourcing and executing private market investment
opportunities on behalf of clients. Pantheon has US$87.8 billion in
assets under management and advice (as at 31 March 2022) and
employs over 415 staff, including more than 120 investment
professionals across offices in London, San Francisco, New York,
Chicago, Hong Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.
Further details can be found at www.pantheon.com
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