DW Catalyst Fund Limited (the
"Company")
(a closed-ended collective investment
scheme established as a company with limited liability under
the laws of Guernsey with registered number 52520)
Results of Discount Trigger
Meeting
9 March
2017
The Company today announces the results of the Discount Trigger
Meeting held at 10.30 am today, at
which the Discount Trigger Resolution contained in the circular to
shareholders dated 17 February 2017
(the “Circular”) was passed on a poll. Accordingly, the Company
will redeem all shares which were voted in favour of the Discount
Trigger Resolution in accordance with the expected timetable set
out below.
The votes cast in respect of the Discount Trigger Resolution
(which was passed as an ordinary resolution) were as follows:
Votes
for:
5,389,739 (91.73% of shares voted)
Votes
against:
486,219 (8.27% of shares voted)
Votes
withheld:
0 (0% of shares voted)
A vote "withheld" is not a vote in law and is not counted in the
calculation of the proportion of the votes for and against a
resolution.
All Redeeming Shares will be redeemed by the Company on
1 August 2017. The Redeeming Shares
represent approximately 57.6% of the 9,349,317 shares currently in
issue (excluding shares held in treasury).
Redeeming Shareholders will receive the Redeeming Share
Redemption Proceeds in four quarterly instalments following each of
1 August and 1 November 2017 and 1
February and 1 May 2018, subject to
the retention of a Hold-back Amount in certain circumstances, as
more fully described in the Circular.
The amount of each instalment of the Redeeming Share Redemption
Proceeds will be calculated by reference to the prevailing Net
Asset Value per Share on each such Quarterly Redemption Date, less
(to the extent that it is not already reflected in such Net Asset
Value) a portion of the costs and expenses incurred by the Company
in relation to, or arising from, the convening of the Discount
Trigger Meeting or implementing other measures connected with the
Discount Trigger Meeting, and the portion of IPO Offer Costs
attributable to the Redeeming Shares, as more fully described in
the Circular.
Following the results of the Discount Trigger Meeting the Board
in conjunction with the Manager will review the structure of the
Company and consider the extent to which the Company’s ongoing cost
and expenses may be reduced.
A further announcement will be made in due course.
Expected Timetable
The expected timetable for the return of proceeds to Redeeming
Shareholders, is set out below:
| Redemption Date for
Redeeming Shares and calculation date for first instalment of
Redeeming Share Redemption Proceeds |
1 August 2017 |
| Expected date for
payment of first instalment of Redeeming Share Redemption
Proceeds |
Mid-September
2017 |
| Calculation date for
second instalment of Redeeming Share Redemption Proceeds |
1 November 2017 |
| Expected date for
payment of second instalment of Redeeming Share Redemption
Proceeds |
Mid-December 2017 |
| Calculation date for
third instalment of Redeeming Share Redemption Proceeds |
1 February 2018 |
| Expected date for
payment of third instalment of Redeeming Share Redemption
Proceeds |
Mid-March 2018 |
| Calculation date for
fourth instalment of Redeeming Share Redemption Proceeds |
1 May 2018 |
| Expected date for
payment of fourth instalment of Redeeming Share Redemption
Proceeds, adjusted, if necessary, to take into account the
Hold-back Amount (if any) |
Mid-June 2018 |
| Approximate date for
payment of relevant portion of the Hold-back Amount (if any) to
Redeeming Shareholders |
After March 2019 |
Terms used and not defined in this announcement shall have the
meanings given to them in the Circular.
Enquiries:
Company website:
www.dwcatalystltd.com
Northern Trust International Fund Administration Services
(Guernsey) Limited
Rebecca Booth
Tel: +44 (0) 1481
745189
RB235@ntrs.com
DW Partners, LP
Laura Rose
Tel: +1 212 751
5872
Laura.Rose@dwpartners.com