Result of EGM
December 15 2009 - 1:24PM
UK Regulatory
TIDMCMAE TIDMCMAU TIDMCMAS
RNS Number : 1824E
CMA Global Hedge PCC Ltd
15 December 2009
15 December 2009
RESULTS OF EGM
Background
In a Circular sent to its Shareholders on 27 November 2009, CMA Global Hedge PCC
Limited (the "Company") offered its Shareholders two options (the "Options") as
to how they may realise their investment in the Company, being the Redemption
Option and the Cash Option. In order to offer the Shareholders the Options, it
was necessary for the Company to seek Shareholder approval for certain
amendments to its Articles of Incorporation and to its Investment Objective and
Policy.
Result of EGM
At the Extraordinary General Meeting of the Company held today at 10.00 a.m.,
the Company passed a special resolution (i) to amend the Company's Investment
Objective and Policy in order to become a listed run-off vehicle and (ii) to
amend the Company's Articles of Incorporation in a manner consistent with
converting to a listed run-off vehicle and with offering Shareholders the
Redemption Option and the Cash Option.
100% of proxy votes cast at the EGM were voted in favour of the special
resolution. Accordingly, the special resolution was passed. The Company will
proceed to become a listed run-off vehicle in the manner described in the
Circular.
The Options
The Company will announce the numbers of Shareholders who elected for the Cash
Option as soon as practicable in due course.
Expected Timetable
+-------------------------------------------------+--------------------------+
| Record date for participation in the First | 5.00 p.m. on 21 |
| Redemption | December 2009 |
| | |
+-------------------------------------------------+--------------------------+
| Record date for participation in the Cash | 5.00 p.m. on 21 |
| Distribution | December 2009 |
| | |
+-------------------------------------------------+--------------------------+
| Anticipated date of the First Redemption, on | on or before 23 |
| which Redemption Offer Shareholders' CREST | December 2009 |
| accounts will be credited with Distribution | |
| Proceeds, or cheques for Distribution Proceeds | |
| will be dispatched to Redemption Option | |
| Shareholders | |
| | |
+-------------------------------------------------+--------------------------+
| Earliest anticipated date of the Cash | on or before 23 |
| Distribution (or the first tranche thereof, as | December 2009 |
| applicable), on which Cash Option Shareholders' | |
| CREST accounts will be credited with | |
| Distribution Proceeds or cheques for | |
| Distribution Proceeds will be dispatched to | |
| Cash Option Shareholders | |
| | |
+-------------------------------------------------+--------------------------+
Definitions
Unless otherwise defined in this announcement, capitalised terms shall have the
same meaning given to them in the Circular sent to Shareholders on 27 November
2009.
Enquiries:
HSBC Securities Services (Guernsey) Limited +44 (0) 1481 707211
Jenny Le Cheminant
CMA +1
441 295 5929
Marcos Camhis
Financial Dynamics +44 (0) 20
7269 7200
Rob Bailhache
Zaman Toleafoa
Oriel Securities Limited +44 (0) 20
7710 7600
Joe Winkley
Sapna Shah
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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