Sherborne Investors (Guernsey) A Notice of Partial Mandatory Redemption (8085M)

TIDMSIAG

RNS Number : 8085M

Sherborne Investors (Guernsey) A

30 August 2013

Sherborne Investors (Guernsey) A Limited

30 August 2013

Notice of Partial Mandatory Redemption

Further to the announcement on 16 August 2013, Sherborne Investors (Guernsey) A Limited (the "Company") announces that it will make a pro rata partial mandatory redemption of its shares (the "Redemption") by distributing up to 106,047,918 ordinary shares of F&C Asset Management plc ("F&C") on 10 September 2013 to Company shareholders of record as at close of business on 6 September 2013. The corresponding ex-date will be 10 September 2013. Accordingly, Company shareholders of record will receive approximately 1.00998 F&C shares for each Company share owned, rounded down to whole numbers.

The Company will redeem such number of Company shares that corresponds to the value ascribed to the assets to be distributed, pro rata across Company shareholders. This is expected to equate to approximately 90% of the holding of each Company shareholder. Following the Redemption and after taking into account incentive payments due to the Special Limited Partner, the Company's principal assets will consist of 6,272,663 shares of F&C (plus such number of shares of F&C referable to any fractional entitlements on the Redemption), total return swaps relating to 6,854,748 shares of F&C, and GBP4.8 million in cash.

The Company presently intends to make a second partial mandatory redemption by distributing these remaining assets, less a reserve for expenses of liquidation, during October 2013.

-Ends-

Enquiries:

 
     FTI Consulting                                    +44 (0)20 7269 7170 
     Jonathon Brill 
      Latika Shah 
 
     Sherborne Investors (Guernsey) A Limited          +44 (0)1481 721 672 
     Ian Brindle (Chairman) 
      Jeff Nicolle (Administrator) 
 
     Jefferies Hoare Govett (Nominated Adviser)        +44 (0)20 7029 8000 
     Gary Gould 
      Graham Hertrich

This information is provided by RNS

The company news service from the London Stock Exchange

END

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