Axiom European Financial Debt Fd Ld Company update (3933W)
18 Août 2022 - 8:00AM
UK Regulatory
TIDMAXI
RNS Number : 3933W
Axiom European Financial Debt Fd Ld
18 August 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS
IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
FOR IMMEDIATE RELEASE
18 August 2022
Axiom European Financial Debt Fund Limited
Company update
The Board of Axiom European Financial Debt Fund Limited (the
"Company") notes that the regulatory transition that the Company's
investment objective has sought to exploit since IPO is now drawing
to a close. The Board also notes the persistent discount on, and
limited liquidity in, the Company's shares despite the NAV
performance track record of the Company which, in the 3- and 5-year
periods to 15 August 2022, was by a substantial margin the best in
the AIC Debt - Loans & Bonds sector at 6.85% p.a. and 5.23%
p.a. respectively. Consequently, and in the light of feedback from
a significant proportion of the Company's shareholders (the
"Shareholders"), the Board has determined that it would not be in
Shareholders' best interests to continue the Company in its present
form and intends to put forward alternative proposals to
Shareholders.
The Board has been encouraged by the positive feedback from
Shareholders in respect of the Company's strategy and the potential
for it to be evolved to provide attractive returns into the future.
The Board also notes that the investment manager, Axiom Alternative
Investments SARL ("Axiom") already manages a range of other funds
which follow similar strategies with success and which have seen
substantial inflows of investor capital over the past two or three
years. Accordingly, due to the challenges noted above, the Board
intends to offer Shareholders the option of receiving cash at NAV
(less costs, including any portfolio realisation expenses) for some
or all of their shareholding and/or to continue their investment in
an open-ended vehicle managed by Axiom (the "Proposals"). That
vehicle will have a similar investment strategy to that which the
Company would have proposed if it were to continue to operate as a
closed-ended listed investment company. In order to effect the
Proposals it is expected that the existing Company will be
liquidated.
The Board, together with Axiom and the Company's broker,
Winterflood Securities Limited, is working on formal proposals to
be put to Shareholders and will make a further announcement with
details in due course. The Board's aim is for the proposals to be
put to Shareholders early in 2023 and, assuming Shareholder
approval is received, for the transaction to be completed as soon
as reasonably practicable thereafter.
LEI: 54930084Q2LJS2LB1V76
The person responsible for making this announcement is Kevin
Robins tel 01481 810 100.
For further information please contact:
Axiom Alternative Investments
SARL
David Benamou, Managing Partner +44(0)20 3807 0670
Winterflood Securities Limited
Neil Morgan +44(0)20 3100 0000
Further details of the Company can be found on its website
https://axiom-ai.com/web/en/axiom-european-financial-debt-fund-limited-2
Important Notice
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or solicitation of any offer
to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of, any securities or the solicitation of any vote or
approval in any jurisdiction, whether pursuant to this announcement
or otherwise.
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of the relevant jurisdictions and therefore persons into whose
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