FRM Credit Alpha Limited 5th compulsory partial redemption of shares (7251R)
November 21 2012 - 10:21AM
UK Regulatory
TIDMFCAP
RNS Number : 7251R
FRM Credit Alpha Limited
21 November 2012
FRM Credit Alpha Limited
(the "Company")
5th compulsory partial redemption of shares
Further to the Company's announcement dated 16 October, 2012,
the Company wishes to provide further details of its fifth cash
distribution to shareholders. Approximately GBP1.75 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 October, 2012. The
Company's NAV per share as at 31 October, 2012 was 82.2 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 30 November, 2012 or shortly thereafter.
The Redemption is being 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 NAV per share as at 31
October, 2012 (being 82.2 pence), approximately 16.098 per cent. of
the Company's issued share capital (that is 16.098 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 13.229 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 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 GG00B8N4QW87 (the "New ISIN") in respect of the
remaining shares which have not been redeemed will be enabled and
available for transactions from and including 22 November, 2012.
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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