4th Complulsory partial redemption of shares (0568G)
June 25 2012 - 6:27AM
UK Regulatory
TIDMFCAP
RNS Number : 0568G
FRM Credit Alpha Limited
25 June 2012
FRM Credit Alpha Limited
(the "Company")
4th compulsory partial redemption of shares
Further to the Company's announcement dated 14 May, 2012, the
Company wishes to provide further details of its fourth cash
distribution to shareholders. Approximately GBP2.7 million is being
returned to shareholders 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
per share as at 31 May,2012 was 79.1 pence. It is expected that
payments of Redemption monies will 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
or shortly thereafter.
The Redemption is being 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 NAV per share as at 31
May,2012 (being 79.1 pence), approximately 20.52 per cent. of the
Company's issued share capital (that is 20.52 shares for every 100
held (the "Redemption Ratio")) will be redeemed on the Redemption
Date. 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 16.22 pence
per share.
The Redemption amount comprises monies from the realisation of
the Company's investments 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.
Prior to the Redemption the Company had 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 GG00B7WCZF28 (the "New ISIN") in respect of the
remaining shares which have not been redeemed will be enabled and
available for transactions from and including 26 June, 2012. 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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