ICG Longbow Snr Sec UK Prop Dt Inv : Results of Placing

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO OR FROM, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

This announcement does not constitute a recommendation regarding any securities. Any investment in the shares referred to in this announcement is made only on the basis of information contained in the prospectus published on 27 April 2017 by ICG-Longbow Senior Secured UK Property Debt Investments Limited (the 'Prospectus').

24 October 2017

ICG-Longbow Senior Secured UK Property Debt Investments Limited

(the 'Company')

Results of Placing

Further to the announcement on 18 October 2017, the Company is pleased to announce that it has raised £9.0 million through a placing of 8,823,529 new Shares at 102 pence per share (the 'New Shares') pursuant tothe terms and conditions of the Company's placing programme set out in the Prospectus (the 'Placing').

The Company intends to use the net proceeds of the Placingto fund its near term pipeline of new loans, including the acquisition of the balance of the Quattro Loan and [potential] further advances to existing borrowers.

Cenkos Securities plc ('Cenkos') is acting as the Company's sole Placing Agent in relation to the Placing.

Applications have been made to the UKLA and the London Stock Exchange for all of the 8,823,529 New Shares issued pursuant to the Placing to be admitted to the Premium Listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that dealings will commence on 26 October 2017.

The New Shares will, when issued and fully paid, include the right to receive all dividends or other distributions made, paid or declared, if any, by reference to a record date after the date of their issue. The New Shares issued under the Placing will not be entitled to the dividend of 1.5 pence per Share declared by the Company on 22 September 2017 and payable to Shareholders on 27 October 2017.

Following the completion of the Placing there will be 117,042,779 Shares in issue. Each Share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 117,042,779. This figure may be used by Shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Jack Perry, Chairman of the Company said: 'We are pleased to have made our first investment under the new investment policy and with a strong and developing pipeline, expect to see the portfolio transition over the coming months. The net proceeds from the first placing provide the Company with sufficient funds to complete on near term pipeline investments whilst limiting any potential cash drag on performance.'

Terms used and not defined in this announcement bear the meaning given to them in the Prospectus.

For further information please contact:

Heritage International Fund Managers Limited:
Mark Huntley James Christie	[phone]
Cenkos Securities:
Tom Scrivens Oliver Packard Andrew Worne Will Rogers Alex Collins	[phone] [phone] [phone] [phone] [phone]
Maitland Consultancy Limited:
Rebecca Mitchell	[phone]
ICG-Longbow Martin Wheeler David Mortimer	[phone] [phone]

ICG Longbow LEI: 2138008BKBH3OP2CA764

The content of this announcement has been prepared by, and is the sole responsibility of, ICG-Longbow Senior Secured UK Property Debt Investments Limited.

Neither the content of the Company's website nor any website accessible by hyperlinks to the Company's website is incorporated in, or forms part of, this announcement. The distribution of this announcement and any other documentation associated with the Placing into jurisdictions other than the United Kingdom may be restricted by law. Persons into whose possession these documents come should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws or regulations of any such jurisdiction.

In particular, such documents should not be distributed, forwarded to or transmitted, directly or indirectly, in whole or in part, in into or from the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction where to do so may constitute a violation of the securities laws or regulations of any such jurisdiction.

This announcement does not constitute or form part of, and should not be considered as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in the Company or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction.

Cenkos Securities plc ('Cenkos'), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Cenkos or advice to any other person in relation to the matter contained herein.

None of Intermediate Capital Managers Limited (the 'Investment Adviser') or Cenkos, or any of their respective affiliates, accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or for any loss howsoever arising from any use of the announcement or its contents aside from the responsibilities and liabilities, if any, which may be imposed by FSMA, as amended or the regulatory regime established thereunder or any other applicable regulatory regime. The Investment Adviser and Cenkos and their respective affiliates, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.