TIDMAXI
RNS Number : 0989R
Axiom European Financial Debt Fd Ld
04 March 2016
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE
UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN
This announcement is an advertisement and not a prospectus. Any
decision to invest in any securities referred to in this
announcement must be made exclusively on the basis of the
prospectus published by the Company on 3 November 2015, and any
supplement thereto, in connection with, inter alia, the admission
to trading of the entire issued share capital of the Company to the
Specialist Fund Market of the London Stock Exchange and the
creation of a placing programme (the "Placing Programme") of
ordinary shares of no par value in the capital of the Company (the
"Prospectus"). A copy of the Prospectus is available for inspection
at www.morningstar.co.uk/uk/NSM. This announcement does not
constitute a recommendation regarding any securities.
4 March 2016
Axiom European Financial Debt Fund Limited
Proposed Placing
Axiom European Financial Debt Fund Limited (the "Company") was
launched in November 2015 raising gross proceeds of GBP50.7
million. Axiom Alternative Investments SARL (the "Investment
Manager"), the Company's investment manager, is a London and Paris
based specialist fund manager focussing on all aspects of
investment in regulatory capital securities issued by European
financial institutions.
Since the Company's admission to trading on the Specialist Fund
Market, the Company and the Investment Manager have had a desire to
enlarge the size of the Company in order to better execute its
investment strategy. Accordingly, the Board announces that it is
seeking to undertake a placing of 4,000,000 new ordinary shares of
no par value in the capital of the Company (the "New Shares")
pursuant to the terms and conditions of the Placing Programme (the
"Placing"). The issue price per New Share will be 90 pence,
representing a 2 per cent. premium to the Company's estimated net
asset value as at 26 February 2016 of 88.24 pence per share
announced on 2 March 2016.
The New Shares will, when issued, be credited as fully paid and
rank pari passu with the Company's existing ordinary shares.
The net proceeds of the Placing will be deployed in line with
the Company's investment policy in:
-- financial instruments issued by European Financial
Institutions which constitute regulatory capital for the purposes
of Basel I, Basel II or Basel III or Solvency I or Solvency II
("Regulatory Capital Instruments");
-- financial instruments issued by European Financial
Institutions which do not constitute Regulatory Capital
Instruments, including without limitation, senior debt ("Other
Financial Institution Investment Instruments"); and
-- CDOs, securitisations or derivatives, whether funded or
unfunded, linked or referenced to Regulatory Capital Instruments or
Other Financial Institution Investment Instruments.
Liberum Capital Limited ("Liberum") is acting as sole bookrunner
in relation to the Placing. The Placing is expected to close at
2.00p.m. today, but may close earlier or later at the absolute
discretion of the Company, in consultation with Liberum.
Application will be made to the London Stock Exchange for the
New Shares to be admitted to trading on the Specialist Fund Market
of the London Stock Exchange ("Admission"). It is expected that
Admission will become effective and that dealings in the New Shares
will commence at 8.00 a.m. on 9 March 2016.
For further information please contact:
Axiom Alternative Investments
SARL
David Benamou, Managing
Partner
Jerome Legras, Managing
Partner
Tel: + 44 (0)20 3807
0670
Liberum (Sole Bookrunner)
Shane Le Prevost / Richard Crawley / Richard Bootle
/ Robert Johnson
Tel: +44 (0)20 3100 2222
MHP Communications (Financial PR Adviser)
Reg Hoare / Giles Robinson / Ollie Hoare / Iva
Kodjabacheva
Tel: +44 (0)20 3128 8100
Important Information
Members of the public are not eligible to take part in the
Placing. This announcement and the terms and conditions referred to
herein are directed in the United Kingdom only at persons selected
by Liberum who are "investment professionals" falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "FPO") or "high net worth
companies, unincorporated associations etc." falling within Article
49(2) of the FPO, or persons to whom it may otherwise be lawfully
communicated (all such persons together being referred to as
"Relevant Persons"). This announcement and the terms and conditions
referred to herein must not be acted on or relied on in the United
Kingdom by persons who are not Relevant Persons. Any investment or
investment activity to which this announcement relates is available
only to, and will be engaged in only with, persons in the United
Kingdom who are Relevant Persons.
The New Shares that are the subject of the Placing are not being
offered or sold to any person in the European Union, other than to
"qualified investors" as defined in Article 2.1(e) of Directive
2003/71/EC, which includes legal entities which are regulated by
the Financial Conduct Authority or entities which are not so
regulated whose corporate purpose is solely to invest in
securities.
This announcement is not for distribution, directly or
indirectly, in or into the United States of America (including its
territories and possessions, any state of the United States of
America and the District of Columbia) (the "United States"),
Australia, Canada, Japan or South Africa or into any other
jurisdiction where applicable laws prohibit its release,
distribution or publication. This announcement does not constitute,
or form part of, an offer to sell, or a solicitation of an offer to
purchase, any securities in the United States, Australia, Canada,
Japan or South Africa or in any other jurisdiction where such offer
or sale would be unlawful. The securities of the Company have not
been and will not be registered under the U.S. Securities Act of
1933, as amended (the "Securities Act") or the US Investment
Company Act of 1940, as amended and may not be offered or sold
directly or indirectly in or into the United States or to or for
the account or benefit of any US Person (within the meaning of
Regulation S under the Securities Act). The securities referred to
herein have not been registered under the applicable securities
laws of Australia, Canada, Japan or South Africa and, subject to
certain exceptions, may not be offered or sold within Australia,
Canada, Japan or South Africa or to any national, resident or
citizen of Australia, Canada, Japan or South Africa.
This announcement has been issued by and is the sole
responsibility of the Company. No representation or warranty,
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by
Liberum or by any of its affiliates or agents as to or in relation
to the accuracy or completeness of this announcement or any other
written or oral information made available to or publicly available
to any interested party or their advisers and any liability
therefore is expressly disclaimed.
Liberum, which is authorised and regulated in the United Kingdom
by the Financial Conduct Authority, is acting as sole bookrunner to
the Company and is acting for no-one else in connection with the
Placing and the contents of this announcement and will not be
responsible to anyone other than the Company for providing the
protections afforded to clients of Liberum or for providing advice
in connection with the Placing and the contents of this
announcement or any other matter referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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