Notice of compulsory partial redemption of shares (2597D)
May 14 2012 - 4:28AM
UK Regulatory
TIDMFCAP
RNS Number : 2597D
FRM Credit Alpha Limited
14 May 2012
FRM Credit Alpha Limited
(the "Company")
Notice of compulsory partial redemption of shares
Following on from the distributions of cash to shareholders in
May 2011, July 2011 and January 2012, the Company has resolved to
return approximately GBP2.7 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 31 May 2012. The Company's
NAV as at 31 May 2012 is expected to be published on or around 25
June 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 29 June 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 25 June 2012 (the
"Redemption Date"). Based on the Company's current estimated NAV,
approximately 21.12 per cent. of the Company's issued share capital
(that is 21.12 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 16.2 pence per share.
The Redemption amount comprises the monies from the realisation
of the Company's investments received up to and including 11 May
2012 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 16,644,179 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 GG00B7869679 (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 26 June 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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