BBGI Global Infrastructure S.A. Dematerialisation of Ordinary Shares (1539H)
December 01 2020 - 9:45AM
UK Regulatory
TIDMBBGI
RNS Number : 1539H
BBGI Global Infrastructure S.A.
01 December 2020
1 December 2020
BBGI Global Infrastructure S.A.
(the "Company")
Dematerialisation of Ordinary Shares
BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global
infrastructure investment company, announces that, pursuant to the
resolutions passed at the Extraordinary General Meeting of the
Company held on 30 November 2020, the Company has initiated the
mandatory conversion of all issued registered shares of the Company
(the Ordinary Shares) into dematerialised shares (the
Dematerialisation).
The Dematerialisation is expected to become effective on 8
December 2020 (the Effective Date).
Holders of depository interests (Depository Interests) issued by
Link Market Services Trustees Limited (the Depository),
representing ordinary shares in the Company (Ordinary Shares), do
not need to take any action. The Depository, in its capacity as the
holder of Ordinary Shares in the capital of the Company represented
by the Depository Interests on a one-for-one basis, will hold such
Ordinary Shares in dematerialised form from the Effective Date. To
be clear, the Dematerialisation affects the way in which the
Company's Ordinary Shares are held and should not affect the
Depository Interests, which will continue to be issued by the
Depository to depository interest holders in CREST and traded in
the normal manner.
Shareholders who are not holders of Depositary Interests are
invited to seek advice on how the Dematerialisation will affect
their shareholding. The minimum conversion period of the
Dematerialisation is two years from the Effective Date (the Minimum
Conversion Period). During the Minimum Conversion Period, each
shareholder may contact the Company to arrange for the conversion
of their Ordinary Shares into dematerialised form. Upon the expiry
of the Minimum Conversion Period, all remaining Ordinary Shares may
be mandatorily converted by the Company into dematerialised
form.
The Company has appointed LuxCSD S.A., in its capacity as an
authorised Central Securities Depository in accordance with
Regulation (EU) No 909/2014 (the CSD Regulation), as the Company's
settlement organisation with regard to the dematerialised shares as
from the Effective Date. Shareholders should note that this does
not affect settlement of transfers in Depository Interests.
The purpose of the Dematerialisation and the Company's
appointment of LuxCSD is part of the Company's Brexit strategy,
ensuring that trades relating to the Ordinary Shares will continue
to be eligible for settlement in CREST regardless of the future
regulatory status of Euroclear UK & Ireland Limited under the
CSD Regulation.
The Company has also appointed Banque Internationale à
Luxembourg S.A. as its principal agent (LuxCSD Agent) in order to
ensure the Company's compliance with the operational requirements
of LuxCSD.
The Dematerialisation and the appointment of a LuxCSD Agent are
each a necessary preliminary step in order for the Company to
satisfy LuxCSD's admission criteria.
For further information, please contact:
BBGI Management Team +352 263 479-1
Duncan Ball
---------------
Frank Schramm
---------------
NOTES
BBGI Global Infrastructure (BBGI) is a responsible
infrastructure investment company and a constituent of the FTSE 250
that invests in and actively manages for the long-term a globally
diversified, low-risk portfolio of essential social infrastructure
investments.
BBGI is committed to delivering stable and predictable cash
flows with progressive long-term dividend growth and attractive,
sustainable, returns for shareholders. BBGI has a proactive
approach to preserving and enhancing the value of its investments,
and to delivering well maintained social infrastructure for
communities and end users, whilst serving society by supporting
local communities.
All of BBGI's investments are availability-based and supported
by secure public sector-backed contracted revenues, with
inflation-protection characteristics, that is paid so long as the
assets are available for use.
BBGI's investment portfolio is over 99% operational with all its
investments located across highly rated investment grade countries
with stable, well developed operating environments.
BBGI's in-house management team is incentivised by shareholder
returns and consistently maintains low comparative ongoing charges
to shareholders.
Further information about BBGI is available on its website at
www.bb-gi.com *.
The Company's LEI is: 529900CV0RWCOP5YHK95
Any reference to the Company or BBGI refers also to its
subsidiaries (where applicable).
* Neither the Company's website nor the content of any website
accessible from hyperlinks on its website (or any other website) is
(or is deemed to be) incorporated into, or forms (or is deemed to
form) part of this announcement.
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