TIDMBGLF
RNS Number : 5324A
Blackstone Loan Financing Limited
23 January 2024
23 January 2024
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN.
Blackstone Loan Financing Limited
(the "Company" or "BGLF")
Dividend Declaration
The Board of Directors of the Company has today declared a
dividend of EUR0.03 per ordinary share in respect of the period
from 1 October 2023 to 31 December 2023. This quarterly payment
brings the aggregate dividends payable for the 2023 financial year
to EUR0.09 per ordinary share which is at the top end of the
guidance set out in the Dividend Policy announced on 23 January
2023. The dividend will be payable to the Company's shareholders of
record as detailed below:
Dividend: EUR0.03 per ordinary
share
Ex-Dividend Date: 1 February 2024
Record Date: 2 February 2024
Final Currency Election 9 February 2024
Date:
Payment Date: 8 March 2024
The dividend is capable of being paid in Pound Sterling, rather
than Euros, provided that the relevant shareholder has registered
to receive their dividend in Pound Sterling by the above-referenced
Final Currency Election Date.
A copy of the Dividend Currency Election form, which should be
sent to Link Group, Central Square, 29 Wellington Street, Leeds,
LS1 4DL when completed, can be found on the Company's website at
http://blackstone.com/bglf .
The Dividend Currency Election Form should only be completed by
shareholders who hold shares in certificated form. CREST
shareholders must elect via CREST.
Full details of how to elect are set out in the Terms and
Conditions which are included on the Company's website.
Dividend Policy
The Company's dividend policy during its managed wind-down was
set out in the Company's circular published on 25 August 2023 (the
"Circular"), which stated that the Board intends to continue to
distribute as dividends the interest payments deemed to be received
from BCF on a quarterly basis, having regard to any amounts which
the Board deem prudent to retain.
Consequently, the Board is pleased to announce that it is
targeting a total 2024 annual dividend of at least EUR0.09 per
ordinary share, which will consist of quarterly payments of
EUR0.0225 per ordinary share . (1) The 2024 total target dividend
represents a dividend yield of 15.3% based on the BGLF closing
price of EUR0.59 on 22 January 2024.
In addition, the Board is evaluating a return of capital through
the compulsory redemption mechanism (as further described in the
Circular) before the end of 2Q24 at a price representing the
prevailing NAV per share and adjusted (including taking into
account the attributable costs) as the Directors consider
appropriate. Shareholders will be notified of further details of
the proposed compulsory redemption in due course.
The Board also confirms that following the approval by
shareholders of the managed wind-down that the Company's dividend
reinvestment plan ('DRIP') has been terminated.
(1) The target dividend set out in this announcement is a target
only and not a profit forecast. It should not be taken as an
indication of the Company's expected future performance or results.
There is no guarantee that the target dividend set out in this
announcement can or will be achieved or can be continued if
achieved. There may be other additional risks, uncertainties and
factors that could cause the returns generated by the Company to be
materially lower than the target dividend set out in this
announcement. Accordingly, investors should not place any reliance
on such target.
NOTE: PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE
PERFORMANCE RESULTS AND THERE CAN BE NO ASSURANCE THAT BGLF WILL
ACHIEVE COMPARABLE RESULTS.
IMPORTANT INFORMATION
Any reference herein to future returns or distributions is a
target and not a forecast and there can be no guarantee or
assurance that it will be achieved.
This document has been issued by Blackstone Loan Financing
Limited (the "Company"), and should not be taken as an offer,
invitation or inducement to engage in any investment activity and
is solely for the purpose of providing information about the
Company. This document does not constitute or form part of, and
should not be construed as, any offer for sale or subscription of,
or solicitation of any offer to buy or subscribe for, any share in
the Company or securities in any other entity, in any jurisdiction,
including the United States, Canada, Japan or South Africa nor
shall it, or any part of it, or the fact of its distribution, form
the basis of, or be relied on in connection with, any contract or
investment decision whatsoever, in any jurisdiction.
This document, and the information contained therein, is not for
viewing, release, distribution or publication in or into the United
States, Canada, Japan, South Africa or any other jurisdiction where
applicable laws prohibit its release, distribution or publication,
and will not be made available to any national, resident or citizen
of the United States, Canada, Japan or South Africa. The
distribution of this document in other jurisdictions may be
restricted by law and persons into whose possession this document
comes must inform themselves about, and observe, any such
restrictions. Any failure to comply with the restrictions may
constitute a violation of the federal securities law of the United
States and the laws of other jurisdictions.
The Company has not been and will not be registered under the US
Investment Company Act of 1940, as amended (the "Investment Company
Act") and, as such, holders of the Shares will not be entitled to
the benefits of the Investment Company Act. The shares issued by
the Company (the "Shares") have not been and will not be registered
under the US Securities Act of 1933, as amended (the "Securities
Act"), or with any securities regulatory authority of any state or
other jurisdiction of the United States. The Shares may not be
offered, sold, resold, pledged, taken up, exercised, renounced,
delivered, distributed or otherwise transferred, directly or
indirectly, into or within the United States, or to, or for the
account or benefit of, US persons (as defined in Regulation S under
the Securities Act) except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and in compliance with any applicable securities
laws of any state or other jurisdiction of the United States and in
a manner which would not require the Company to register under the
Investment Company Act. No public offering of the Shares is being
made in the United States.
In addition, the Shares are subject to restrictions on
transferability and resale in certain jurisdictions and may not be
transferred or resold except as permitted under applicable
securities laws and regulations. Investors may be required to bear
the financial risks of their investment in the Shares for an
indefinite period of time. Any failure to comply with these
restrictions may constitute a violation of the securities laws of
any such jurisdictions.
This document may contain forward-looking statements that
represent the Company's opinions, expectations, beliefs,
intentions, estimates or projections. These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates",
"anticipates", "expects", "intends", "may", "will" or "should" or,
in each case, their negative or other variations or comparable
terminology. Any statement other than a statement of historical
fact is a forward-looking statement. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors because they relate to
events and depend on circumstances that will occur in the future
whether or not outside the control of the Company. Actual results
may differ materially from those expressed or implied by any
forward-looking statement and even if the results of the Company
are consistent with such forward-looking statement, those results
may not be indicative of results in subsequent periods. The Company
does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Recipients of this document should not
place undue reliance on any forward-looking statement, which speaks
only as of the date of its issuance.
No liability whatsoever (whether in negligence or otherwise)
arising directly or indirectly from the use of this document is
accepted and no representation, warranty or undertaking, express or
implied, is or will be made by the Company, or any of its
directors, officers, employees, advisers, representatives or other
agents ("Agents") for any information or any of the opinions
contained herein or for any errors, omissions or misstatements.
None of the Agents makes or has been authorised to make any
representation or warranties (express or implied) in relation to
the Company or as to the truth, accuracy or completeness of this
document, or any other written or oral statement provided. In
particular, no representation or warranty is given as to the
achievement or reasonableness of, and no reliance should be placed
on any projections, targets, estimates or forecasts contained in
this document and nothing in this document is or should be relied
on as a promise or representation as to the future.
Unless otherwise indicated, the information provided herein is
based on matters as they exist as of the date of preparation and
not as of any future date. Recipients of this document are
encouraged to contact the Company's representatives to discuss the
procedures and methodologies used to make the projections and other
information provided herein.
All investments are subject to risk, including the loss of the
principal amount invested. Past performance is not necessarily
indicative of future results, and there can be no assurance that
BGLF will achieve comparable results, will meet its target returns,
achieve its investment objectives or be able to implement its
investment strategy. All investments to be held by the Company
involve a substantial degree of risk, including the risk of total
loss. The value of shares and the income from them is not
guaranteed and can fall as well as rise due to stock market and
currency movements. When you sell your investment you may get back
less than you originally invested. You should always seek expert
legal, financial, tax and other professional advice before making
any investment decision.
Blackstone Loan Financing Limited is a self-managed Jersey
registered alternative investment fund, and is regulated by the
Jersey Financial Services Commission as a 'listed fund' under the
Collective Investment Funds (Jersey) Law 1988 (the "Funds Law") and
the Jersey Listed Fund Guide published by the Jersey Financial
Services Commission. The Jersey Financial Services Commission is
protected by the Funds Law against liability arising from the
discharge of its functions thereunder. The Jersey Financial
Services Commission has neither reviewed nor approved the issue of
this document.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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END
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