#| Home | Contact Summit Group
Summit Group home link Helping businesses succeed
About Us link
Investment Criteria link
Seeking Investment link
Case Studies link
Current Portfolio link
Realisations link
Seraphim Capital link
Press Centre link
Career Opportunities link
Press Release  
Contact details 

SQN Asset Finance Income Fund Limited Result of Placing - Significantly Oversubscribed 05/06/2015

SQN Capital Management, LLC

25% owned by Summit Asset Management


SQN Asset Finance Income Fund Limited (the "Company"), the only diversified equipment leasing fund listed in the UK announced on 21 May 2015 its intention to raise up to £30 million through a placing of new ordinary shares of no par value in the Company (the "Ordinary Shares") pursuant to its placing programme in accordance with the Prospectus published on 16 June 2014 (the "Placing").

The Board is pleased to announce that it has raised gross proceeds of £30m through the issue of 28,985,507 Ordinary Shares (the "New Shares") at an issue price of 103.5 pence per Ordinary Share, subject to Admission. The Placing was significantly oversubscribed with total applications received in excess of three times the maximum issue size. Placing applications have been scaled back accordingly.

The net proceeds of the Placing will be used to fund committed transactions and further opportunities in the pipeline.

The Board has been delighted by the continued support from investors for the Company's investment proposition. In light of the demand from investors, and the strength of the pipeline of opportunities, the Company expects to undertake a larger fundraising in Q3/Q4 2015, which is likely to be by way of a C-Share issue.

Application will be made for the New Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission"). It is expected that dealings in the New Shares will commence at 8.00 a.m. on 10 June 2015.

The New Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares, including the right to receive all future dividends and distributions declared, made or paid, save for the dividend payable on 18 June 2015 to shareholders on the register on 5 June 2015.

Following Admission, the Company expects to have 178,985,507 Ordinary Shares in issue. The total number of voting rights of the Company will be 178,985,507 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

For further information please contact:

SQN Capital Management, LLC
Jeremiah Silkowski
Neil Roberts

01932 575 888
Winterflood Securities Limited
020 3100 0000
Joe Winkley
Neil Langford

Buchanan
Charles Ryland
Vicky Watkins
Jason Day

Click here for SQN Capital Management, LLC company profile.

SQN Capital Management, LLC

Jeremiah Silkowski (President and CEO) 
Neil Roberts
 
100 Wall Street, 28th Floor 
New York 
USA 
 
 
 
Tel: (001) 212 422 2166 
 
Email: jsilkowski@sqncapital.com
WWW:
http://sqncapital.com  
 
 
 
 
 
 
 
 
 
 
 

#About Us | Investment Criteria | Seeking Investment | Case Studies | Current Portfolio | Career Opportunities | Cookie Policy

Cookies on the Summit Group website

We use cookies on our website. By continuing to use the site, you agree we can set and use cookies. However, if you would like to, you can change your cookie settings at any time. Find out more about cookies on our site on our cookie page »