Ranger Direct Lending Fund PLC Shareholder Update (4663H)
November 15 2018 - 4:14AM
UK Regulatory
TIDMRDL
RNS Number : 4663H
Ranger Direct Lending Fund PLC
15 November 2018
15 November 2018
RANGER DIRECT LENDING FUND PLC (or the "Company")
Shareholder update
In advance of the general meeting of the Company to be held on
Friday, 16 November 2018, the ZDP Committee have had initial
discussions with the Board of Ranger Direct Lending ZDP plc
("ZDPCo") and received feedback from holders of the zero-dividend
preference shares issued by ZDPCo.
The ZDP Committee remain of the view that:
-- implementing a managed and orderly disposal of investments
will maximise the value to be realised on the sale of the Company's
assets and, at the same time, reduce the risk that the value of the
Company's assets will be impaired.
-- the process will maximise the proceeds available to meet the
Company's obligations to ZDPCo and the Company's shareholders.
-- the steps being taken in the realisation of the Company's
investments would be permitted by the existing Investment Policy,
so do not represent a change from the existing Investment Policy.
However, the Board considered it appropriate to reflect the
approach now being taken by the Company in a formally adopted
amended Investment Policy.
As a result, the ZDP Committee believes that the amendments to
the Company's Investment Policy to formalise the approach do not
materially prejudice holders of ZDP Shares.
The ZDP Committee also confirms that it is cognisant of the
Company's contractual obligations to ZDPCo and the steps being
envisaged to implement the amended Investment Policy will observe
those obligations.
In order to take account of the views of the holders of ZDP
Shares, members of the ZDP Committee have offered to meet with a
group of holders of ZDP Shares during the week commencing 19
November 2018 to discuss with them the appropriate framework for
dealing with ZDP Shares in the context of winding-down the
investment portfolio of the Company.
All capitalised terms in this announcement have the meaning
given to them in the Company's Circular dated 29 October 2018
unless otherwise defined herein.
For further information, please contact:
Link Company Matters Limited
Secretary +44 (0)1392 477 510
LEI: 549300VGZSKYQ7C2U221
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END
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