Saltus European Debt Strategies Ltd Name change (3708J)
August 06 2012 - 6:57AM
UK Regulatory
TIDMSED
RNS Number : 3708J
Saltus European Debt Strategies Ltd
06 August 2012
SALTUS EUROPEAN DEBT STRATEGIES LIMITED
(The "Company") (Registered in Guernsey - Number 46912)
Registered Office:
2(ND) FLOOR, REGENCY COURT, GLATEGNY ESPLANADE,
ST PETER PORT, GUERNSEY GY1 3NQ
TELEPHONE: +44 1481 720321 FACSIMILE: +44 1481 716117
E-MAIL: Funds@bfgl.com
For immediate Release 6 August 2012
Saltus European Debt Strategies Limited
Change of name to
Alternative Liquidity Solutions Limited
At the Company's Annual General Meeting held on 13 July 2012,
shareholders unanimously approved resolutions to restructure the
Company. The purpose of the restructuring is to create a share
class to enable a managed wind down and return of capital to those
shareholders who wish to have their shares redeemed ("Run-Off
Shares"). In addition, after the Board was approached by
significant Shareholders wishing to stay invested but with a new
investment objective, the restructuring also provides the
alternative of a continuation class for those investors who prefer
to remain invested ("Ordinary Shares") but with a new investment
objective and policy to generate a gross internal rate of return of
at least 20 per cent. per annum by acquiring and actively managing
secondary hedge fund positions, both of a credit and distressed
orientated nature as well as illiquid and unquoted equity
positions.
The proposals approved by Shareholders also included that, in
view of the intended change of Company's investment objective for
the Ordinary Shares and the fact that the Company will no longer be
focused upon investing solely in European credit hedge funds, its
name be changed to Alternative Liquidity Solutions Limited to
reflect better the intended future investment activities of the
Company.
The Board is now pleased to announce that the name change was
effected on 2 August 2012.
Notes to editors
Proposed equity fund raising to be conducted in the autumn to
ensure that the net asset value attributable to the Ordinary Shares
is at least GBP35m. All of the Ordinary Shares will be redesignated
as Run-Off Shares and the entire Company wound down if the equity
fundraise is not completed by 31 December 2012 or fewer than 40% of
existing Shareholders elect to participate in the continuation
class.
Enquiries:
Company Secretary
Butterfield Fulcrum Group (Guernsey) Limited
2(nd) Floor
Regency Court
Glategny Esplanade
St Peter Port
Guernsey GY1 3NQ
Tel: 01481 720321
Fax: 01481 716117
This information is provided by RNS
The company news service from the London Stock Exchange
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