CQSU Cqs Div Fnd. $

TIDMCQS TIDMCQSU

RNS Number : 9145X

CQS Diversified Fund Limited

22 February 2012

CQS Diversified Fund Limited (the "Company")

CONVERSION BETWEEN SHARE CLASSES & ADMISSION OF NEW SHARES

Conversion requests

The table below summarises the aggregate number of shares of each class in relation to which the Company has received requests to convert such shares into shares of the other class with effect from 31 January 2012 (the "Conversion Day").

From US Dollar Shares to Sterling Shares 902,919

Conversion ratios

The net asset value per share of each class as at the Conversion Day was as follows:

GBP0.9776 in the case of Sterling Shares

$0.9777 in the case of US Dollar Shares

Spot conversion rate to be used for the Conversion, as at the Conversion date:

USD/GBP: 0.6345

On the basis of the above, the conversion ratios are as follows:

0.6345 Sterling Shares for every one US Dollar Share

Admission of new shares

Application has been made for 572,902 Sterling Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange. It is expected that such listing will become effective and that dealings in such shares will commence on 23 February 2012.

Results of conversion

With effect from 23 February 2012, the issued share capital of the Company will be as follows:

   Sterling Shares:            73,860,709 
   US Dollar Shares:         12,404,068 

All shareholders have equal voting rights based on the number of shares held. Accordingly, the total number of voting rights in the Company is 86,264,777 and this figure 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 a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

22 February 2012

For further information about this announcement contact:

Secretary

Citco Fund Services (Guernsey) Limited

Douglas Mackay

Telephone (01481) 706796

This information is provided by RNS

The company news service from the London Stock Exchange

END

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