Notice of compulsory partial redemption of shares (3413U)
December 20 2011 - 8:20AM
UK Regulatory
TIDMFCAP
RNS Number : 3413U
FRM Credit Alpha Limited
20 December 2011
FRM Credit Alpha Limited
(the "Company")
Notice of compulsory partial redemption of shares
Following on from the distributions of cash to shareholders in
May and July 2011, the Company has resolved to return approximately
GBP4.5 million by way of a further compulsory partial redemption of
shares (the "Redemption") at a price based on the Company's final
NAV per share as at 30 December 2011. The Company's NAV as at 30
December2011 is expected to be published on or around 23 January
2012. Payments of Redemption monies are expected to be effected
either through CREST (in the case of shares held in uncertificated
form) or by cheque (in the case of shares held in certificated
form) by 31 January 2012. Certificated shareholders must send all
of their share certificates to the Company's Registrar in order to
receive their Redemption monies.
The Redemption will be effected pro rata to holdings of shares
on the register at the close of business on 23 January 2012 (the
"Redemption Date"). Based on the Company's current estimated NAV,
approximately 25 per cent. of the Company's issued share capital
(that is 25 shares for every 100 held (the "Redemption Ratio"))
would be redeemed on the Redemption Date. Further more detailed
information will be released in due course. Fractions of shares
produced by the Redemption Ratio will not be redeemed and so the
number of shares to be redeemed for each shareholder will be
rounded down to the nearest whole number of shares. The Redemption
is equivalent to approximately 20 pence per share.
The Redemption amount comprises the monies from the realisation
of the Company's investments received up to and including 15
December 2011 pursuant to the managed wind-down of the Company,
less the costs and expenses of this Redemption and cash being
retained for the Company's working capital requirements. The costs
and expenses of this Redemption are estimated not to exceed
GBP5,000.
The Company currently has 22,132,580 shares in issue. All of the
shares redeemed on the Redemption Date will be cancelled.
The shares will be disabled in CREST on the Redemption Date and
the existing ISIN number GG00B4K46K11 (the "Old ISIN") will expire.
The new ISIN number in respect of the remaining shares which have
not been redeemed will be enabled and available for transactions
from and including 24 January 2012. Up to and including the
Redemption Date, shares will be traded under the Old ISIN and as
such, a purchaser of such shares may have a market claim for a
proportion of the Redemption proceeds following the activation of
the new ISIN. CREST will automatically transfer any open
transactions as at the Redemption Date to the new ISIN.
Enquiries:
Chris Brierley 020 7968 6136
(Financial Risk Management Limited)
Jane Lewis 020 3100 0295
(Winterflood Investment Trusts)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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