Dexion Trading Limited Result of Redemption Offer (4809S)

TIDMDTL

RNS Number : 4809S

Dexion Trading Limited

07 November 2013

7 November 2013

Dexion Trading Limited

Result of Redemption Offer

As set out in the Circular dated 23 October 2013, Shareholders (other than Restricted Shareholders) were offered the opportunity to participate in a Redemption Offer at NAV (less costs) for up to 30 per cent. of the Shares in issue (excluding Shares held in treasury) as at the Record Date.

The Redemption Offer closed at 1.00 p.m. on 6 November 2013 and the Company today announces that in accordance with the terms and conditions of the Redemption Offer tenders for 28,645,797 Shares (representing 30% of the Shares in issue at the Record Date) have been accepted by the Company.

Of such amount, 26,248,207 Shares constitute the aggregate Basic Entitlement of Shareholders who validly tendered Shares for redemption. The balance of 2,397,590 Shares will be allocated pro rata using a percentage of approximately 4.3% to scale back tenders in excess of the Basic Entitlement.

The Redeemed Shares have an aggregate value (using the estimated net assets of the Company as at 31 October 2013) of approximately GBP39.1 million (or approximately 30% of the estimated net assets of the Company).

As set out in the Circular, the payment of Redemption Offer redemption monies is expected to be made on or around 31 December 2013.

Enquiries:

 
Robin Bowie / Ana Haurie     Tel: +44 (0) 20 7832 0900 
 Dexion Capital Plc 
 Carol Kilby                 Tel: +44 (0) 1481 743940 
  Dexion Capital (Guernsey) 
  Limited 
 Stuart Klein                Tel: +44 (0) 20 7029 8000 
  Jefferies Hoare Govett

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Circular dated 23 October 2013.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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