Alternative Liquidity Solutions Ltd Compulsory Redemption of Shares (0140S)
26 Noviembre 2012 - 8:15AM
UK Regulatory
TIDMALSL
RNS Number : 0140S
Alternative Liquidity Solutions Ltd
26 November 2012
ALTERNATIVE LIQUIDITY SOLUTIONS LIMITED
26 November 2012
Notice of compulsory redemption of shares
In line with its commitment to return cash to shareholders as
soon as practicably possible, the Company has resolved to return
GBP7.8 million, equivalent to 21.78p per existing share, by way of
a compulsory partial redemption of shares (the "Redemption").
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 11 December
2012.
The Redemption will be effected pro rata to holdings of shares
on the register at the close of business on 3 December 2012 (the
"Redemption Date"). Based on the Company's current estimated NAV as
at 30 September 2012 of GBP16.6 million, approximately 47 per cent.
of the Company's issued share capital (that is 47 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 price at which each share will be
redeemed will be 46.34 pence per share.
The Redemption amount comprises the monies from the realisation
of the Company's investments received up to and including 25
November 2012 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 outstanding capital commitments and
working capital requirements.
The Company currently has 35,812,882 shares in issue. All of the
shares redeemed on the Redemption Date will be cancelled. It is
expected that following the redemption there will be 18,980,841
shares in issue.
The shares will be disabled in CREST on the Redemption Date and
the existing ISIN number GG00B7C4YN91 (the "Old ISIN") will expire.
The new ISIN number (GG00B908QS67) in respect of the remaining
shares which have not been redeemed will be enabled and available
for transactions from and including 4 December 2012. 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 Date to the new ISIN.
Enquiries:
Ben Money-Coutts
Saltus Partners LLP
+44 20 7499 0200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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