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Sequoia Infrastructure - Result of Issue and Total Voting Rights

Sequoia Economic Infrastructure Income Fund Limited

Result of Issue and Total Voting Rights

On 3 June 2019, SEQI, the specialist investor in economic infrastructure debt, announced it was seeking to raise gross proceeds of £216 million through a partially pre-emptive issue of new Ordinary Shares by way of an Open Offer, Placing and Offer for Subscription (the "New Ordinary Shares") (the "Issue").


The Board of Directors (the "Board") is pleased to announce that the Issue has been significantly oversubscribed and investor demand for the Issue has significantly exceeded the maximum issue size of £216 million. Accordingly, a scaling back exercise has been undertaken with respect to applications received pursuant to the Placing and Offer for Subscription.


A total of 200,000,000 New Ordinary Shares will be issued (subject to Admission as defined below) of which 127,505,908 New Ordinary Shares will be issued pursuant to the Open Offer (including the Excess Application Facility) and 72,494,092 New Ordinary Shares will be issued pursuant to the Placing and the Offer for Subscription. Application has been made for the New Ordinary Shares to be admitted to the Official List and to trading on the London Stock Exchange's premium segment of the Main Market ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence on 27 June 2019. Once issued, the New Ordinary Shares will rank pari passu with the existing Ordinary Shares.


Following Admission, the Company will have 1,261,153,014 Ordinary Shares in issue. Therefore, the total number of voting rights of the Company will be 1,261,153,014 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, or a change to their interest in, the Company.


Stifel Nicolaus Europe Limited acted as Sponsor, Financial Adviser and Sole Bookrunner to the Company.


Unless otherwise defined, the terms used and not defined in this Announcement bear the meaning given to them in the Prospectus.


Robert Jennings, Chairman of SEQI commented:

"We are delighted at the success of this issue. On behalf of the Board, I would like to thank our existing shareholders and new investors for their support. The proceeds raised will be used to repay our RCF and grow our diversified portfolio through disciplined investment in a diversified pipeline of attractive economic infrastructure debt opportunities."


The information contained in this announcement may constitute inside information. The person responsible for the release of this announcement on behalf of the Company is Praxis Fund Services Limited.