HXE Newstar Rbc 1Xe

    RNS Number : 4950E
  New Star RBC Hedge250 IDX (1X GBP)
  26 September 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)


    26th September 2008 

    Breach of Share Buy-Back Authority

    At an Extraordinary General Meeting held on 9 July 2008 a special resolution was passed to renew the Company's authority to purchase up
to 14.99% of each class of share in issue on the date of passing of the resolution.

    The Company has very recently become aware that although, in aggregate, share buybacks remain below the 14.99% threshold, it has
inadvertently exceeded this authority by 3.51 percentage points in relation to one of the classes of the Company's shares, the 1X US$
Shares. This was due to an error in determining the total number of shares in issue at the date the resolution was passed and, consequently,
the maximum number of shares that could be repurchased thereafter. 

    The Company proposes to call another Extraordinary General Meeting shortly in order to seek renewal of the Company's authority to
purchase up to 14.99% of each class of share in issue so that shares can be repurchased in future with the appropriate shareholder
authority.

    Enquiries:
    Alex Duncan, New Star Asset Management, Tel: +44 (0) 20 7225 9290
    Alison Bilham, HSBC Securities Services (Guernsey) Limited, Tel: +44 (0) 1481 707213

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