FCAP Finncap Group Plc

    RNS Number : 3621A
  FRM Credit Alpha Limited
  31 July 2008
   

    31 July 2008

    FRM Credit Alpha Limited 

    Distribution Facility

    As set out in the Circular published on 7 July 2008, the Company intends to make its first annual distribution on or around 29 August
2008. The 2008 Distribution Facility is available to electing Shareholders on the Company's Register as at 29 July 2008.

    The Distribution Facility will be effected by way of a redemption of Shares at not less than the Company's Net Asset Value as at 30 June
2008 of 119.9 pence per Share (less any associated costs). Participating Shareholders will have a number of shares redeemed from their
holding equivalent to the distribution rate determined by the Directors of 3.5 per cent.

    The Distribution Date for the 2008 distribution is expected to be on or around 29 August 2008 and CREST accounts and the proceeds of the
distribution (less any associated costs) will be paid to participating Shareholders through CREST or by cheque within 10 Business Days of
the Distribution Date

    By way of illustration, an electing Shareholder with 1000 Shares participating in the 2008 annual distribution would have redeemed 35
shares at 119.9 pence per share. 

    Electing Shareholders participating in the 2008 Distribution Facility should ensure that they submit a Transfer to Escrow Message to the
Receiving Agent by no later than 1 pm on 22 August 2008.  

    The defined terms used in this announcement have the meanings set out in the Company's Circular dated 7 July 2008.  A further
announcement will be made should any change be made to the distribution date.

    Enquiries:

    Tina Hugo/Luke Burdess, Financial Risk Management         020 7968 6000 
    Roland Cross/Sally Moore, Broadgate                                 020 7776 0508
    Jane Lewis/James Moseley, Winterflood Securities              020 3100 0295

      



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