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Please find attached our Ranger Direct Lending Fund plc (“Ranger” or the “fund”) IPO Share Offer application form and a copy of the IPO prospectus. The Offer is now open and the price has been set at £10 per share.
Ranger is seeking to raise ~£135m to invest in a diversified portfolio of loans sourced by direct lending platforms. Like P2P, we believe direct lending is a strong competitor to the traditional bank lending model and we think this fund is well placed to benefit from growth in this asset class, whilst also offering investors a very attractive yield. The fund is targeting a dividend yield of 10 per cent and is seeking to be listed on the main market of the London Stock Exchange.
The fund has confirmed the Share Offer period will close at 5pm on Friday 24 April 2015, so investors should act quickly.
The minimum application amount for Retail Investors has been confirmed as £1,000 and must be in multiples of £10.
Midas will accept Application Forms up to Noon on Thursday 23 April 2015.
Should you wish to apply:
- Please print off, complete and sign the attached application form and return either by email to email@example.com or by post to our Manchester office. Please note you can apply for any, or all, of your family members but we will require a separate application form for each applicant.
- Please ensure that you have sufficient funds in your ISA/Dealing account. Alternatively, please credit your account with BACS transfers or cheques made payable to Pershing Securities Limited. Post dated cheques will not be accepted.
- If you wish to open new accounts for family members (please note there is a charge of £20 to open new accounts) then complete an extra IPO application form for each new account. You may apply in your children’s names, utilising your funds, but would need to open separate accounts for each child and transfer the relevant amount from your account to the new account to demonstrate separate applications are being made. For children aged 18 and over we will require the child to complete, sign and return a customer agreement form and send in the following formal identification, which must be no more than three months old and must have their address details:
- Passport or Driving Licence – authorised copy will suffice;
- Bank Statement/Credit Card Statement; and
- Utility Bill, Council Bill or Taxation Document.
All original documentation will be returned to the account holder once the account has been opened.
4. All documentation and cleared funds needs to be with us by noon on Thursday 23 April 2015.
By completing the application form you are agreeing:
- that by completing this application form and returning it to us you are entering into a contract to buy shares in an IPO, which is a conditional offer and as a result, will become a binding share purchase unless you revoke this via e-mail to ourselves and to which we have confirmed receipt, before the close of the offer period at noon on Thursday 23 April 2015.
- that you have read and you have fully understood the prospectus.
- if you elect to participate in the Retail Offer and apply for Shares there under, you will be treated as applying solely on the basis of the information contained in the Prospectus at the Offer Price which is £10 per share, and applications will be accepted only on the terms and conditions set out in the Application Form and the Prospectus.
- that in making any investment decision on the IPO you have relied rely on your own examination of the Company and the terms of the Offer, including the merits and risks involved and you have NOT been advised by ourselves to participate in the IPO.
- that in consideration for Midas Investment Management Limited’s participation in the Retail Offer as an Intermediary, subject to Admission taking place, we will be paid an Intermediaries commission at a rate of 0.5 per cent, of the aggregate value of the Retail Shares allocated to, and paid for by, such Intermediary in the Retail Offer (the “Allocation Value”).
Should you have any queries or would like any assistance in completing your application, then please do not hesitate to contact Simon Reeks or Mike Waddington on 0161 228 1709 or via e-mail to firstname.lastname@example.org or email@example.com
Midas Investment Management Limited.
Please note that past performance is not a reliable indicator of future results and that share prices can fall, as well as rise in value; therefore your capital is always at ris
This announcement has been published by Midas Investment Management Limited who are authorised and regulated by the FCA.
The information contained in this announcement must not be transmitted or otherwise sent to any person in the United States, Canada, Australia, Japan or any other territory where to do so would breach applicable laws or regulations. This announcement is an advertisement and not a prospectus. Investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information contained in a final form prospectus expected to be published by Ranger Direct Lending Fund plc(the “Company”) in due course in connection with the offer of ordinary shares in the Company and the admission of the ordinary shares in the Company to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on London Stock Exchanges plc’s main market for listed securities. Copies of the prospectus will, following publication, be available, free of charge, from the Company’s registered office. This announcement has been prepared by and is the sole responsibility of Midas Investment Management Limited of 2nd Floor Arthur House, Chorlton Street, Manchester, M1 3FH, which is an authorised person for the purposes of the Financial Services and Markets Act 2000. This announcement is not an offer of securities for sale in the United States. The securities to which this announcement relates have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”) or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, into or within the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.