Thames River Multi Hedge PCC Ltd LIQUIDATION & RETURN OF CAPITAL (8916H)
June 26 2013 - 4:12AM
UK Regulatory
TIDMTRMA TIDMTTM TIDMTTM
RNS Number : 8916H
Thames River Multi Hedge PCC Ltd
26 June 2013
THAMES RIVER MULTI HEDGE PCC LIMITED
(the "Company")
(a closed-ended, umbrella investment, protected cell company
incorporated with limited liability under the laws of Guernsey with
registered number 41511)
Liquidation & Return of Capital
The Company today announces that it currently expects to return
approximately GBP10million to shareholders in August 2013
representing approximately 70% of the Company's estimated net asset
value as at 14th June 2013. This expectation is based on
information currently available and the Manager's estimate of
available cash proceeds from the redemption of underlying
investments.
The capital will be returned by way of a compulsory redemption
of Shares (the "Third Redemption") in accordance with the powers
granted to the Board at the Company's general meeting on 11
September 2012. The Company will make a further announcement in
August 2013 containing details of the actual percentage of Shares
to be redeemed, a timetable for the Third Redemption and for the
distribution of proceeds, and the Redemption Price per Share.
Liquidation and delisting
Taking into account the anticipated size of the Company
following the Third Redemption, the liquidity outlook for the
remaining investments in its portfolio and the significant costs
which are being incurred by the Company in relation to the listing
of its Shares, the Board will be putting forward proposals to
Shareholders in relation to delisting the Company and placing it
into liquidation by 30 September 2013.
A circular will be posted to Shareholders in late July 2013
setting out the proposals for approval by Shareholders in August
2013.
Queries to:
Tracy Fennell at Thames River Capital LLP: + 44 20 7011 4455
Stephen Rouxel at State Street (Guernsey) Limited: + 44 1481
704544
Dion Di Miceli at Cenkos Securities Plc : + 44 207 397 1921
The Company is an authorised closed-ended investment scheme
domiciled in Guernsey. As an existing closed-ended fund the Company
is deemed to be granted an authorisation declaration in accordance
with section 8 of the Protection of Investors (Bailiwick of
Guernsey) Law 1987, as amended and rule 6.02 of the Authorised
Closed-ended Investment Schemes Rules 2008 on the same date as the
Company obtained consent under the Control of Borrowing (Bailiwick
of Guernsey) Ordinance 1959 to 1989.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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