Company Announcements

GCP Asset Backed Income Fund Limited

(the "Company" or "GCP Asset Backed")

LEI: 213800FBBZCQMP73A815

Additional Listing

24 May 2019

GCP Asset Backed, which invests in asset backed loans, has made an application for 273,753 ordinary shares of no par value each in the Company to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange. It is expected that these new ordinary shares will be admitted to trading on 4 June 2019.

The application is being made pursuant to the scrip dividend alternative in lieu of cash for the interim dividend for the period from 1 January 2019 to 31 March 2019. Elections for a scrip dividend were received in respect of 5.06% of the ordinary shares in issue as at the record date of 3 May 2019. When issued, these ordinary shares will rank pari passu with the existing ordinary shares.

Further details of the scrip dividend alternative can be found in the Scrip Dividend Circular 2019 which was published by the Company on 24 April 2019, a copy of which is available for inspection at www.morningstar.co.uk/uk/NSM and the Company's website at www.graviscapital.com/funds/gcp-asset-backed/literature.

Following admission of the new ordinary shares, the Company's issued share capital will consist of 380,545,847 ordinary shares of no par value each and therefore, the total number of issued shares with voting rights will be 4 June 2019.

The above figure of 380,545,847 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Gravis Capital Management Limited                                                       +44 (0) 20 3405 8500

David Conlon                    

Dion Di Miceli                    

Cenkos Securities plc                                                                                   +44 (0) 20 7397 8900

Tom Scrivens                    

Oliver Packard                  

Sapna Shah        

Buchanan/Quill                                                                                            +44 (0)20 7466 5000

Helen Tarbet

Nick Croysdill

Henry Wilson   

Notes to Editors

The Company

GCP Asset Backed is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.