FRM Credit Alpha Limited Notice of compulsory partial redemption of shares (8423O)
October 16 2012 - 12:21PM
UK Regulatory
TIDMFCAP
RNS Number : 8423O
FRM Credit Alpha Limited
16 October 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, January 2012 and June 2012, the Company has
resolved to return approximately GBP1.75 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
October 2012. The Company's NAV as at 31 October 2012 is expected
to be published on or around 21 November 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 30 November
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 21 November 2012 (the
"Redemption Date"). Based on the Company's current estimated NAV,
approximately 16.5 per cent. of the Company's issued share capital
(that is 16.5 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 13.23 pence per share.
The Redemption amount comprises the monies from the realisation
of the Company's investments received up to and including 15
October 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 13,229,007 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 GG00B7WCZF28 (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 22 November 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 7144 2810
(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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