Business
Publication of Prospectus and Placing
Publication of Prospectus and Placing.
About this update from Pollen Street Group Limited
[{"type":"text","content":"\n \nRNS Number : 2510G Honeycomb Investment Trust PLC 25 May 2017 \n\nNOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.\nThis announcement is an advertisement only and does not constitute a prospectus. Investors who wish to subscribe for or purchase shares in the Company are reminded that any such subscription or purchase should only be made on the basis of the information contained in the prospectus dated 25 May 2017 (and any supplement thereto) and not on the information contained in this announcement. This is a financial promotion and is not intended to be investment advice.\n25 May 2017\nHoneycomb Investment Trust plc\n(the \"Company\")\n \nPublication of Prospectus and Proposed Initial Placing\nThe board of directors of the Company is pleased to announce the publication of a prospectus (the \"Prospectus\") in relation to a share issuance programme of up to 40 million new Ordinary Shares and/or C Shares (the \"Placing Programme\"), including a first placing of Ordinary Shares (the \"First Placing\").\nUnder the First Placing, the Company is proposing to issue up to 10,000,000 new Ordinary Shares at an issue price of £10.50 per Ordinary Share (the \"Initial Issue Price\"). The Initial Issue Price represents a 5.8% discount to the last closing price of £11.15 per share on 24 May 2017 and a premium to the Net Asset Value per share of the Company. New Ordinary Shares issued under the First Placing will not rank for the dividend declared on 28 April 2017 in respect of the three month period to 31 March 2017.\nThe proceeds from the First Placing will be invested in accordance with the Company's investment policy. The Company has fully deployed the net proceeds of the IPO placing and the placings of Ordinary Shares undertaken in May and December 2016.\nThe timetable for the First Placing is expected to be as follows:\n\n\n\n\n \n\n\n2017\n\n\n\n\nLatest time and date for receipt of commitments for the First Placing\n\n\n10.00 a.m. on 31 May\n\n\n\n\nPublication of results of the First Placing\n\n\n31 May\n...