Hadrian’s Wall Secured Investments (HWSL) has announced the results of C Share Placing and Offer for Subscription, through which it has raised £45.2m. HWSL says that, in total, applications were accepted in respect of 45,194,862 C Shares, comprising 40,456,862 C Shares under the Initial Placing and 4,738,000 C Shares under the Initial Offer for Subscription. HWSL says that, since the aggregate gross proceeds of the Offer and the Placing exceeded £40m, each of the company’s four directors received a one-off additional fee of £7,500. This was satisfied by way of the allotment and issue to the directors of 7,500 fully paid C Shares to each director (an additional 30,000 C Shares in total). As a result, 45,224,862 C Shares were allotted in respect of the Initial Issue and the Directors’ C Share Issue.
Applications have been made for all of the C shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities. Admission is expected to occur at 8.00 a.m. on 31 May 2017. The ticker for the Company’s C Shares is HWSC.
The company says that the proceeds from the Issue will be used to enter into loan transactions in the Company’s pipeline and it is expected that these proceeds will be deployed within a period of approximately six to nine months from Admission. The company says that the terms and timing of the conversion of the C Shares into Ordinary Shares will be announced in due course.
Hadrian’s Wall Secured Investments C-share raises £45.2m HWSL, HWSC