Ranger Direct Lending has announced that it has conditionally placed 30 million zero dividend preference shares (ZDP Shares) at 100 pence per share to raise gross proceeds of £30m. The company says that the ZDP Shares will have a life of five years and a final capital entitlement of 127.63 pence per ZDP Share on the ZDP repayment date, equivalent to a redemption yield of 5.0 per cent. per annum on the placing price. The company says that the placing is conditional upon the publication of a prospectus and admission of the ZDP Shares to the standard segment of the Official List, and to trading on the London Stock Exchange’s main market for listed securities. Furthermore, the company says that a prospectus relating to the Placing is expected to be published on 26 July 2016 and will be made available on the Company’s website www.rangerdirectlending.uk. Admission is expected to take place at 8.00am on 1 August 2016.
Ranger Direct Lending conditional ZDP placement to raise £30m : RDL