Castelnau Group Ltd - Issue of Equity

Castelnau Group Ltd - Issue of Equity

PR Newswire

London, November 10

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

11 November 2021

Castelnau Group Limited
(the "Company")

Issue of Equity

Castelnau Group Limited, an investment company established to invest in public and private companies with the aim of outperforming the FTSE All Share Total Return Index over the long term, today announces the issue of 6,443,339 new ordinary shares ("Ordinary Shares") of the Company for the purposes of an in specie transfer of investments.

Subsequent to the Company's initial admission to the Specialist Fund Segment of the London Stock Exchange's Main Market on 18 October 2021, an additional two investors (whose investments are held across four managed accounts), whose accounts are managed on a discretionary basis by the Company's investment manager, Phoenix Asset Management Limited, have today entered into a share purchase agreement in respect of the in specie transfer of their shares in Dignity plc, Hornby plc, and Phoenix SG Limited to the Company, in exchange for newly issued Ordinary Shares

The Ordinary Shares will be issued at a price per Ordinary Share of 101.873 pence, representing the current net asset value per Ordinary Share of the Company, together with a premium to allocate a proportion of the initial issue costs incurred at IPO to these investors and to cover the associated costs of this new share issue. The Company's net asset value per Ordinary Share has been calculated by reference to the net asset value per Ordinary Share as at 31 October 2021, adjusted for movements in the share prices of Dignity plc and Hornby plc since that date. The total value of the Ordinary Shares issued is £6,564,042, which represents the aggregate of the value of the holdings of Dignity plc and Hornby plc as at yesterday's market close and the value of Phoenix SG Limited as at 31 October 2021 (being the latest valuation date), adjusted for the costs of the issue.

A total of 6,443,339 new Ordinary shares are being issued in respect of the managed accounts. It is expected that admission of the new Ordinary Shares will commence at 8.00 a.m. on Monday, 15 November 2021. Following admission, the Company's issued share capital will consist of 183,996,058 Ordinary shares, with no shares held in treasury. Therefore, the total number of shares with voting rights in the Company will be 183,996,058.

Following admission, the above 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 under the FCA's Disclosure Guidance and Transparency Rules.

Further information on the Company can be found on its website at www.castelnaugroup.com

Enquiries:

Phoenix Asset Management Limited
[phone]
Gary Channon
Steve Tatters
Lorraine Smyth

Liberum Capital Limited
[phone]
Darren Vickers
Owen Matthews
Will King

Citigate Dewe Rogerson
[phone]
Chris Barrie
Caroline Merrell
Toby Moore

Notes:

The Company's LEI is: 213800PED8RFUBMK1T64.

A copy of this announcement will be available on the Company's website at www.castelnaugroup.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.