FRM Credit Alpha Limited 6th compulsory partial redemption of shares (4947A)
March 20 2013 - 12:27PM
UK Regulatory
TIDMFCAP
RNS Number : 4947A
FRM Credit Alpha Limited
20 March 2013
FRM Credit Alpha Limited
(the "Company")
6th compulsory partial redemption of shares
Further to the Company's announcement dated 4 March, 2013, the
Company wishes to provide further details of its sixth cash
distribution to shareholders. Approximately GBP2 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 28 February,2013. The Company's
NAV per share as at 28 February,2013 was 86.5 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 28
March, 2013 or shortly thereafter.
The Redemption is being 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 NAV per share as at 28
February,2013 (being 86.5 pence), approximately 20.833 per cent. of
the Company's issued share capital (that is 20.833 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 18.019 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 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 GG00B91SP220 (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 March, 2013. CREST
will automatically transfer any open transactions as at the
Redemption Date to 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
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