GMNT Gottex Market

 

TIDMGMNT 
 
RNS Number : 4308I 
Gottex Market Neutral Trust Limited 
11 March 2010 
 

Gottex Market Neutral Trust Limited 
 
11 March 2010 
 
Results of Extraordinary General Meeting 
 
Gottex Market Neutral Trust Limited (the "Company") announces that the 
resolutions to approve the Winding Down Proposals, as described in the circular 
to shareholders dated 12 February 2010 (the "Circular"), were duly passed at the 
Company's extraordinary general meeting held today. 
 
The new investment objective and investment policy of the Company is to realise 
the Company's existing investments in an orderly and timely manner, with a view 
to distributing cash to Shareholders at appropriate times as sufficient 
investments are realised. The Company will not make any new investments (other 
than cash and near cash equivalent securities). 
 
The return of cash to Shareholders will be effected through the compulsory 
redemptions of Shares at times determined by the Directors. In determining the 
timing of such redemptions and the number of Shares to be redeemed, the 
Directors will take into account, in particular, the amount of cash then 
available for distribution and the costs associated with such redemption. The 
Shares to be redeemed on a Redemption Date will be the Relevant Percentage of 
those Shares registered in the names of Shareholders on a record date 
established by the Directors for the purposes of such redemption. Shareholders 
will receive the proceeds of redemption at a value equal to the prevailing Net 
Asset Value per Share for each Share redeemed as at the relevant Redemption 
Date, less the costs of redemption. Before each redemption of Shares, the 
Company will announce; 
 
·    the relevant Redemption Date (on which redemptions will become effective) 
·    the percentage of the Company's then issued share capital to be redeemed by 
the Company on that Redemption Date (the "Relevant Percentage") and the record 
date by reference to which shareholdings will be calculated and ownership 
determined for the purposes of redeeming Shares; 
·    the Net Asset Value Date for the calculation of the Relevant Percentage; 
·    the anticipated costs to be incurred in connection with such redemption; 
and 
·    any additional information that the Board deems necessary to advise 
Shareholders in connection with such redemption. 
 
The Directors expect to make a first distribution of cash to Shareholders 
following the receipt of proceeds from the redemptions placed by the Company for 
31 December 2009 and 31 March 2010 which the Company currently anticipates 
receiving by 30 April 2010.  On this basis a first distribution to Shareholders 
is expected to be made at the end of May 2010. 
 
Based on the composition of the Portfolio as at 31 December 2009 and on the 
assumptions contained in the Circular, (and, in particular, no further 
Settlement Obstructions arising (as such term is defined in the Circular)), the 
Company estimates it will receive cash representing approximately 45-50 per 
cent. of the Portfolio by 30 April 2010.  However, subsequent moves in the 
foreign exchange market since 31 December 2009 (or other matters or events) may 
result in a lower amount being received by the Company and consequently a lower 
amount being available for distribution to Shareholders. 
 
In accordance with Listing Rule 9.6.2, two copies of the resolutions passed at 
the extraordinary general meeting will shortly be available for inspection at 
the UK Listing Authority's Document Viewing Facility which is situated at 25 the 
North Colonnade, Canary Wharf, London E14 5HS. 
 
Enquiries 
William Simmonds 
J.P. Morgan Cazenove - 020 7588 2828 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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