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RM Secured Direct Lending to convert the C shares after fundraising

The company intends to convert the C shares into ordinary shares

Holders of C Shares will be entitled to the next quarterly dividend

RM Secured Direct Lending PLC (LON:RMDL) said on Friday that it has deployed £9.81mln or 87% of the proceeds of its C Share fundraising from April.

The company intends to convert the C shares into ordinary shares and expects the calculation date to fall on June 30. The conversion ratio is expected to be announced on or around July 16.

READ: RM Secured Direct Lending sees attractive pipeline of opportunities as quarterly NAV edges higher

“The company intends to make a further announcement in due course setting out the conversion ratio applying to the conversion, the expected date when such Conversion will occur and the number of new ordinary shares to be issued,” the firm said.

Holders of C Shares, once converted, will not be entitled to receive the 1.625p interim dividend that is due to be paid on June 29.

They will be entitled to the quarterly dividend to be declared “in due course” for the three months to June 30, the first payout to be declared after the conversion.

Quick facts: RM Secured Direct Lending

Price: 77.5 GBX

Market: LSE
Market Cap: £93.98 m

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