FRM Credit Alpha Limited 6th compulsory partial redemption of shares (1723Z)
March 04 2013 - 9:38AM
UK Regulatory
TIDMFCAP
RNS Number : 1723Z
FRM Credit Alpha Limited
04 March 2013
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, June 2012 and November 2012 the
Company has resolved to return approximately GBP2 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 28 February 2013. The Company's NAV as at 28 February 2013 is
expected to be published on or around 21 March 2013. 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 March 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 March 2013 (the
"Redemption Date"). Based on the Company's current estimated NAV,
approximately 20.96% per cent. of the Company's issued share
capital (that is 20.96 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 18.02 pence per share.
The Redemption amount comprises the monies from the realisation
of the Company's investments received up to and including 1 March
2013 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 11,099,438 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 GG00B8N4QW87 (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 March 2013. 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 Dateto the new ISIN.
Enquiries:
Charles Lee 020 7144 2448
(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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