Business
Placing of Equity
Placing of Equity.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n T2 Income Fund Limited\n22 June 2007\n\n\n\nNot for release, publication or distribution in, or into, the United States,\nAustralia, Canada or Japan\n\n\n\n22 June 2007\n\n\n\nT2 Income Fund Limited\n\n\n\nPLACING OF UP TO 5 MILLION NEW ORDINARY SHARES\n\n\n\nT2 Income Fund Limited ('T2' or the 'Company') today announces it is placing up\nto 5 million new ordinary shares at a price of 101.75p (the 'Placing'). This\nrepresents up to approximately 13 per cent of T2's issued ordinary share capital\nimmediately prior to the Placing.\n\n\n\nUse of proceeds\n\n\n\nThe net proceeds of the Placing will be used to invest primarily in debt\nsecurities of small to medium sized companies in accordance with the Company's\ninvestment policy.\n\n\n\nEnquiries:\n\nT2 Income Fund Limited:\nPatrick Conroy, +1 203 983 5282\n\n\n\nGrant Thornton Corporate Finance (Nominated Adviser):\nPhilip Secrett, +44 (0) 870 991 2578\n\n\n\nJPMorgan Cazenove:\nAngus Gordon Lennox, + (0) 44 207 588 2828\n\n\n\nDetails of the Placing\n\n\n\nT2 intends to place up to 5 million new ordinary shares, representing up to\napproximately 13 per cent of T2's issued ordinary share capital immediately\nprior to the Placing, with institutional and other investors (the 'Placing\nShares'). The Placing is being conducted, subject to the satisfaction of\ncertain conditions, through an accelerated book-building process to be carried\nout by JPMorgan Cazenove. The books will open with immediate effect. The\ntiming of the closing of the books, pricing and allocations is at the discretion\nof T2 and JPMorgan Cazenove although the book-building is expected to close not\nlater than 4.30pm (London time) today. The number of Placing Shares and the\nprice at which the Placing Shares are to be placed (the 'Placing Shares') will\nbe agreed by T2 and JPMorgan Cazenove at the close of the book-building process.\nThe Result of the Placing will be announced as soon as practicable after the\nclose of the book-building process.\n\n\n\nThe Placing Shares will be issued credited as fully paid and will rank pari\npassu with the Company's existing ordinary shares, including the right to\nreceive all dividends and other distributions declared, made or paid on or in\nrespect of such shares after the date of issue of the Placing Shares.\nApplication has been made for admission of such Shares to trad...