LONDON - CQS New City High Yield Fund Limited has announced the issuance of 500,000 ordinary shares from its blocklisting facility. The new shares will be offered at a price of 52 pence each and are scheduled to be issued for cash on Thursday.
Following the issuance, the total issued share capital of the investment company will reach 581,651,858 ordinary shares, with no shares held in treasury. Consequently, the total voting rights within the company will also stand at 581,651,858.
This figure is significant for shareholders who need to disclose changes in their stake in the company according to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The equity issue is part of the company's capital management strategy and provides investors with an opportunity to increase their investment in the fund. It also allows the company to raise additional capital for future investments.
The transaction details, including the specific use of the proceeds from the share issuance, were not disclosed in the press release statement. The Company Secretary and Administrator for the fund is BNP Paribas (OTC:BNPQY) S.A., Jersey Branch, and the Investment Manager is Manulife | CQS Investment Management.
Singer Capital Markets LLP is acting as the broker for the issuance, with James Maxwell and James Moat overseeing corporate finance and Alan Geeves handling sales.
Shareholders and potential investors are advised to take note of the new share issuance for their investment decisions and reporting requirements. The information regarding the share issuance is based on a press release statement.
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