Alternative Liquidity Solutions Ltd Outcome of elections for Run-Off Shares (3083P)
23 Octubre 2012 - 4:44AM
UK Regulatory
TIDMALSL
RNS Number : 3083P
Alternative Liquidity Solutions Ltd
23 October 2012
23 October 2012
For Immediate Release
Alternative Liquidity Solutions Limited
Outcome of elections for Run-Off Shares
The Board of Alternative Liquidity Solutions Limited ("the
"Company") announces that valid elections have been received from
Shareholders in respect of 17,110,566 Ordinary Shares in the
Company (representing 47.8 per cent of the current issued share
capital) to have their shares redesignated as Run-Off Shares.
Accordingly the Board has redesignated 17,110,566 Ordinary
Shares as Run-Off Shares following which the Company has in issue
18,702,316 Ordinary Shares and 17,110,566 Run-Off Shares.
Following the Share Redesignations the investment objective and
policy of the Company in relation to the Run-Off Shares Pool will
be to realise the Run-Off Shares Pool's existing investments in an
orderly and timely manner, with a view to distributing cash to
Run-Off Shareholders pro rata to their holdings of Run-Off Shares
at appropriate times as sufficient investments are realised. The
Company will not make any new investments in the Run-Off Shares
Pool other than to meet pre-existing commitments or in cash or cash
equivalents pending distribution of cash to Run-Off Shareholders.
The Company may, however, make follow-on investments which it
believes are necessary to protect the value of existing
investments.
The return of cash to Run-Off Shareholders through the wind-down
process will be effected through a series of compulsory redemptions
of Run-Off Shares on a pro rata basis. All Run-Off Shareholders
will be treated equally under the compulsory redemptions.
It is anticipated that the first redemption of Run-Off Shares
will be made by 30 November 2012.
Details of the Run-Off Shares, which will not be listed, are as
follows:
ISIN: GG00B7C4YN91
SEDOL: B7C4YN9
Enquiries:
Saltus Partners LLP 020 7499 0200
Ben Money-Coutts
Jon Macintosh
Canaccord Genuity Limited 020 7523 8000
Will Barnett
Neil Brierley
Dominic Waters
David Yovichic
FTI Consulting 020 7269 7141
Harry Stein
This information is provided by RNS
The company news service from the London Stock Exchange
END
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