BioPharma Credit PLC Notice of GM (3309L)
September 10 2021 - 2:00AM
UK Regulatory
TIDMBPCR
RNS Number : 3309L
BioPharma Credit PLC
10 September 2021
LEI: 213800AV55PYXAS7SY24
10 September 2021
BIOPHARMA CREDIT PLC
(THE "COMPANY")
INTENTION TO APPLY FOR ADMISSION OF ORDINARY SHARES TO LISTING
ON THE PREMIUM SEGMENT OF THE MAIN MARKET, PUBLICATION OF CIRCULAR
AND NOTICE OF GENERAL MEETING
BioPharma Credit plc (the "Company" or "BioPharma Credit")
announces its intention to apply for admission of its ordinary
shares (the "Ordinary Shares") to listing on the Premium Segment of
the Official List and the transfer of the admission to trading of
the Ordinary Shares from the Specialist Fund Segment to the Premium
Segment of the London Stock Exchange plc's Main Market (the
"Admission"), subject to the passing of certain resolutions to be
proposed at a general meeting of the Company to be held at the
offices of Herbert Smith Freehills LLP, Exchange House, Primrose
Street, London EC2A 2EG at 3.30 p.m. (London time) on 30 September
2021 (the "General Meeting").
It is also proposed that the Company will submit an application
to cancel the admission of the Ordinary Shares on the Official List
of The International Stock Exchange Authority Limited ("TISEA") on
or shortly after, and conditional upon, Admission.
A notice of the General Meeting is contained in the shareholder
circular (the "Circular") published today on the Company's website
at http://bpcruk.com . In addition, a copy of the Circular has been
submitted to the National Storage Mechanism and will shortly be
available for viewing online at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
Shareholders are advised to read the whole of the Circular with
care.
As described more fully in the Circular, in order to be eligible
for Admission and to comply with the Listing Rules, the Company
must, among other things, amend its articles of association
(including to make certain revisions to its current shareholder
voting structure) and adopt a written investment policy.
The Company believes that the Premium Segment of the Main Market
is the most appropriate platform for the continued growth of the
Company, as the transition is expected to increase the Company's
profile, broaden its shareholder register and facilitate the
Company's eligibility for inclusion in the FTSE UK Index
Series.
Continuation Resolution
Under the Company's existing articles of association, an
ordinary resolution that the Company continues its business at as a
closed-ended investment trust (a "Continuation Resolution") is
scheduled to be held at the Company's annual general meeting in
2022. However, the Directors believe that it is beneficial to the
Company for the Continuation Resolution to be held earlier, for the
reasons set out more fully in the Circular.
As more fully described in the Circular, the Company is
therefore proposing to amend its articles of association to permit
the Continuation Resolution to be put to shareholders at the
General Meeting. Subject to the approval of the shareholders to
such amendments, the Continuation Resolution will be proposed at
the General Meeting as an ordinary resolution.
Working Capital
The Company is of the opinion that the working capital available
to the Company is sufficient for its present requirements, that is
for at least the next 12 months from the date of this
announcement.
For Further Information
BioPharma Credit plc
Via Link Company Matters Limited
Company Secretary
+44 (0)1392 477 509
J.P. Morgan Cazenove
William Simmonds / Harry Randall (Corporate Finance)
+44 (0)20 7742 4000
Buchanan
David Rydell / Mark Court / Jamie Hooper / Henry Wilson
+44 (0)20 7466 5000
Biopharmacredit@buchanan.uk.com
About BioPharma Credit plc:
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 to achieve this objective primarily through
investments in debt assets secured by royalties or other cash flows
derived from the sales of approved life sciences products.
Visit the BioPharma Credit website at http://bpcruk.com for more
information.
Capitalised terms used but not defined in this announcement will
have the same meaning as set out in the Circular unless the context
otherwise requires.
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END
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