H3XS Newstar Rbc 3X�

RNS Number:5589P
New Star RBC Hedge250 IDX (3X GBP)
06 March 2008


                                   HEDGE ETS
            New Star RBC Hedge 250 Index Exchange Traded Securities
                                  PCC Limited

  (A closed-ended investment company incorporated in Guernsey with registered
number 45501 under the provisions of The Companies (Guernsey) Laws 1994 to 1996
      and The Protected Cell Companies Ordinance 1997 to 1998, as amended)


6 March 2008


Posting of circular and extraordinary general meeting

Introduction and background


The Company has been granted authority to make market purchases of up to 14.99
per cent. of each Class of Shares in issue, which authority expires on the later
of 31 October 2008 or the date of the annual general meeting to be held in 2008.


The Directors believe it is appropriate for the Company's Shares to trade at or
around Net Asset Value and use the ability to buy back Shares at a discount to
Net Asset Value to facilitate such a rating.

The existing Share repurchase authority has been substantially exhausted as a
result of Shares repurchased by the Company.


The proposal

Shareholder approval is now being sought to renew the authority for the Company
to continue to make repurchases of up to 14.99% (at the date the resolution is
passed) of each Class of Shares in issue and to sell repurchased Shares held in
treasury.  The timing of any repurchases would be decided by the Board.

Any Share repurchases would be made at a narrow discount to the latest estimated
Net Asset Value per Share and would be subject to normal market conditions,
accuracy of Index hedge fund valuations, availability of leverage under the
relevant Swaps and close periods.  The estimated Net Asset Value per Share would
be calculated using the Index value as reported on RBC's website,
www.rbchedge250.com, the marked to market value of collateral held and the
Company's fees and expenses, as set out in the prospectus.

To date, all Shares repurchased by the Company have been cancelled but the
Directors now intend repurchased Shares to be held as treasury shares, up to a
limit for each Class of Shares of 10 per cent. of the total issued Shares of
that Class at that time.  No Shareholder resolution is required in connection
with this.

In addition, the Directors consider it desirable, in order to assist market
liquidity, that the Company be authorised to sell treasury shares in the market
at a discount to the latest estimated Net Asset Value per Share, provided always
that such discount is no greater that the average purchase discount prevailing
at the time of sale.  For these purposes, the average purchase discount would be
the average of the discount to the then-prevailing estimate of Net Asset Value
per Share at which each treasury share of the relevant Class was acquired.  When
treasury shares are sold or cancelled, the average purchase discount would be
adjusted using the "first in, first out" method.


Extraordinary general meeting

The Company will tomorrow post to shareholders a circular which sets out the
details of the proposal and of the extraordinary general meeting to be held at
10.00 a.m. on 4 April 2008 in order to obtain shareholder approval for the
proposal.

If approved, the proposal will take effect on the date on which the resolutions
are passed.

Copies of the circular will be available for inspection at the registered office
of the Company, Arnold House, St Julian's Avenue, St Peter Port, Guernsey GY1
3NF.


Enquiries:

Alison Bilham, HSBC Securities Services (Guernsey) Limited
Tel: + 44 (0)1481 707213



ENDS




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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