TIC Tapestry Inv Pf

 
TIDMTIC 
 
TAPESTRY INVESTMENT COMPANY PCC LIMITED (the "Company") 
                     Registration Number : 48959 
 
 
                           3 November 2009 
 
          Notice of compulsory partial redemption of Shares 
 
 
 
 Notice of compulsory partial redemption of participating redeemable 
  preference shares in the Multi-Strategy (GBP) cell of the Company 
                             ("Shares") 
 
Further to the approval by the Company's shareholders of the  Managed 
Wind-Down of  the  Company (as  more  particularly described  in  the 
circular that was  sent to the  shareholders on 21  August 2009  (the 
"Circular")) at the Extraordinary  General Meeting and Class  Meeting 
held on  11  September 2009  and  in accordance  with  the  Company's 
Articles of Incorporation, the Company  today announces that it  will 
return GBP31,470,343 (equivalent  to 37.65p  per Share)  to holders  of 
Shares on  18 November  2009  (the "Redemption  Date")  by way  of  a 
compulsory partial  redemption  of Shares  (the  "Redemption").   The 
Redemption will be  effected pro rata  to holdings of  Shares on  the 
register at the close  of business on the  Redemption Date. Based  on 
the Net Asset Value per Share of 96.5497p on 30 September 2009 (being 
the Net Asset Value Date), 39 per cent. of the Company's issued share 
capital will be redeemed on the  Redemption Date (that is 3.9  Shares 
for every 10 held (the  "Redemption Ratio")).  Fractions produced  by 
the Redemption  Ratio will  not  be redeemed  and such  Shares  shall 
continue.  The price  at which each  Share will be  redeemed will  be 
96.5497p. 
 
The amount  to  be  applied  to  the  partial  redemption  of  Shares 
comprises the monies held by the Company together with proceeds  from 
the realisation  of  the Company's  investments  received up  to  and 
including 30 October 2009 pursuant to the Managed Wind-Down, less any 
funds used  or  required to  settle  any liabilities  (including  the 
estimated ongoing day to day running costs of the Company). 
 
Shares 
 
As at today's  date, the Company  has 90,594,850 Shares  in issue  of 
which 7,018,010 are held in Treasury.  All of the Shares redeemed  on 
the Redemption Date together with  any Shares held in Treasury,  will 
be cancelled. 
 
The Shares will be disabled in  CREST on the Redemption Date and  the 
existing ISIN number GB00B063C843 will  expire.  The new ISIN  number 
GG00B56ZXH13 in respect of the remaining  Shares which have not  been 
redeemed will  be  enabled  and  available  for  transactions  on  19 
November 2009. 
 
All capitalised terms have the meaning given to them in the  Circular 
unless otherwise stated. 
 
Copies of the redemption notice  which is being sent to  shareholders 
today are available from the Company's website. 
 
 
 
 
 
Contacts for queries: 
 
Tapestry Investment Company PCC Limited 
Mel Carvill (Chairman) 
01481 727111 
 
Kleinwort Benson (Channel Islands) Fund Services Limited 
Company secretary 
01481 727111 
 
Collins Stewart Europe Limited 
Andrew Zychowski 
Lucy Lewis 
020 7523 8000 
 
Collins Stewart Europe Limited, which is authorised and regulated in 
the United Kingdom by the Financial Services Authority, is acting for 
Tapestry Investment Company PCC Limited and is acting for no-one else 
in connection with the Redemption and the contents of this 
announcement, and will not be responsible to anyone other than the 
Company for providing the protections afforded to clients of Collins 
Stewart Europe Limited nor for providing advice in connection with 
the Redemption and the contents of this announcement or any other 
matter referred to herein. Collins Stewart Europe Limited is not 
responsible for the contents of this announcement. This does not 
exclude or limit any responsibilities which Collins Stewart Europe 
Limited may have under the Financial Services and Markets Act 2000 or 
the regulatory regime established thereunder. 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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