Notice of AGM
22 April 2022
CVC Credit Partners European Opportunities Limited
(a closed-ended investment company incorporated in Jersey with registration number 112635)
Registered Office: IFC 1, The Esplanade, St Helier, Jersey, JE1 4BP
Notice of Annual General Meeting
The Company announces that the Notice of Meeting for the 2022 Annual General Meeting, to be held on Wednesday 18 May at 10:00 a.m., together with the Annual Circular in relation to the Company's Contractual Tender and other certain changes as summarised below (together the "Documents"), will be published to the Company's website www.ccpeol.com. The Documents will also be available for inspection at the National Storage Mechanism in due course and copies will be posted to shareholders.
On 9 March 2022, the Company announced that, as part of its ongoing strategic review and monitoring of the Company, the Board was considering making certain changes that it believes will increase the Company's appeal to both existing shareholders and new investors, while leveraging the extensive investment capabilities of the investment vehicle in which the Company is invested (the "Investment Vehicle") and the Investment Vehicle's investment manager. The Board also set out its intentions to consult with shareholders.
Following consultation with shareholders representing a significant proportion of the Company's shares, the Board is putting forward the following proposals for the consideration and approval of shareholders:
- amending the investment policy to increase the restriction on allocation to collateralised loan obligation securities from 7.5% to 20%;
- changing the name of the Company to CVC Income & Growth Limited;
- changing the structure of the tender facility, moving from a quarterly to a semi-annual structure with a 25% annual limit and a 15% semi-annual limit, instead of a 50% annual limit and 24.99% quarterly limit as in previous years;
- changing the frequency of the currency conversion mechanism from monthly to semi-annual;
- making certain amendments to the Company's articles of association relating to Board composition; and
- seeking certain share issuance authorities in addition to the usual authorities previously obtained
(together, the "Proposals"). Further details of the Proposals are set out in the Annual Circular.
Terms used and not defined in this announcement shall have the meanings given to them in the Annual Circular.
CVC Credit Partners European Opportunities Limited: +44 (0)1534 625522
BNP Paribas Securities Services S.C.A., Jersey Branch +44 (0)1534 813873