Tetragon Financial Group Limited Announcement of Dividend and Intention to Conduct Tender Offer
LONDON, Oct. 27, 2022 --
On 26 October 2022, the Board of Directors of Tetragon declared a dividend of U.S.$0.11 (11.00 cents) per share in respect of the third quarter of 2022. The ex-dividend date is 1 November 2022. The record date is 2 November 2022. Payment of the dividend will take place from 25 November 2022.
Tetragon's website (www.tetragoninv.com) includes information on Tetragon's Optional Stock Dividend Plan for those shareholders electing to receive dividends in the form of Tetragon shares. Shareholders may elect to receive dividends in the form of Tetragon shares by making a dividend share election up to 14 November 2022. If no election is made, the dividend will be paid in cash from 25 November 2022.
Cash dividends may be received in Sterling by those shareholders making a dividend currency election up to 14 November 2022. If no election is made, the dividend will be paid in U.S. dollars from 25 November 2022.
Intention to Conduct a Tender Offer:
Tetragon intends to conduct a tender offer for a number of Tetragon non-voting shares with a maximum value of up to U.S.$25 million, to be held as treasury shares. J.P. Morgan Securities plc (which conducts its U.K. investment banking business as J.P. Morgan Cazenove) will act as dealer manager in the tender offer, which will use a modified Dutch auction structure. Details of this planned tender offer will be announced shortly. A repurchase of Tetragon shares at a price below NAV will be accretive to its fully diluted NAV per share.
Tetragon is a closed-ended investment company that invests in a broad range of assets, including public and private equities and credit (including distressed securities and structured credit), convertible bonds, real estate, venture capital, infrastructure, bank loans and TFG Asset Management, a diversified alternative asset management business. Where appropriate, through TFG Asset Management, Tetragon seeks to own all, or a portion, of asset management companies with which it invests in order to enhance the returns achieved on its capital. Tetragon's investment objective is to generate distributable income and capital appreciation. It aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. The company's non-voting shares are traded on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and on the Specialist Fund Segment of the main market of the London Stock Exchange. For more information please visit the company's website at www.tetragoninv.com.
This release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version of EU MAR as it forms part of UK law by virtue of the European Union (Withdrawal) Act (as amended).
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940 and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Dutch Financial Markets Supervision Act as an alternative investment fund from a designated state.
SOURCE Tetragon Financial Group Limited