Polar Capital raises £59.4m for Healthcare Trust.
Results of the Open Offer, Offer for Subscription and Initial Placing of New Ordinary Shares
New ordinary shares will be issued under the initial placing at 213.8p, (this price is calculated as the prevailing Net Asset Value as at the close of business on 15 June 2017 plus the Placing Commission).
Valid applications have been received for 27,798,298 new ordinary shares in aggregate under the Open Offer, Offer for Subscription and Initial Placing at the Issue Price. The gross proceeds will amount to GBP59,432,790.
It is expected that admission will become effective, and dealings on the London Stock Exchange will commence, on 20 June 2017, when CREST accounts will be credited with uncertificated ordinary shares.
The total number of ordinary shares outstanding following the tender offer and the issue will be 124,149,256 of which 2,175,000 are held in treasury.
Results of the Initial Placing of new ZDP Shares
32,128,437 zero dividend preference shares (“ZDP Shares”) have been placed at a placing price of 100 pence each to raise gross proceeds of GBP32,128,437.
Admission will become effective, and dealings on the London Stock Exchange will commence, on 20 June 2017, when CREST accounts will be credited with uncertificated ZDP Shares.
Tender Price
Following the announcement of the results of the tender offer on 1 June 2017, today they have announced the tender price as 211.16p, being equal to the prevailing NAV as at the close of business on 15 June 2017.
Change to the Company’s name
As set out in the circular to shareholders published on 12 May, the company intends to change its name from “Polar Capital Global Healthcare Growth and Income Trust plc” to “Polar Capital Global Healthcare Trust plc”. A separate announcement will be made shortly.
PCGH : Polar Capital raises £59.4m for Healthcare Trust