TRMU Thames Riv.USD

 

TIDMTRMA TIDMTRMU 
 
RNS Number : 4628T 
Thames River Multi Hedge PCC Ltd 
28 September 2010 
 

 
                              COMPANY ANNOUNCEMENT 
 
For Immediate Release 
28 September 2010 
 
                      Thames River Multi Hedge PCC Limited 
 
                            Re: Redemption Facility 
 
 
Thames River Multi Hedge PCC Limited (the "Company") has a half yearly 
Redemption Facility under which, subject to certain limitations and the 
Directors exercising their discretion to operate the facility on any relevant 
occasion, the holders of Sterling shares, Dollar shares and Euro shares may 
request the redemption of all or part of their holdings of shares for cash. 
 
The Board of the Company today announces the results of offering the Redemption 
Facility on 31 December 2010. 
 
Valid requests for redemption of 49.17 per cent. of the Company's Sterling 
shares, 61.16 per cent. of the Company's Dollar shares and 36.46 per cent. of 
the Company's Euro shares have been received. 
 
Shareholders who made a redemption request shall have their basic entitlement, 
being 10 per cent. of their holding of Sterling shares, Dollar shares and Euro 
shares (or such lower percentage as the Directors may determine in order to 
ensure compliance with Guernsey company law), met in full. 
 
Shareholders should note that the Company will not give effect to redemption 
requests for more than 10 per cent. in aggregate of each class of shares in the 
Company in issue on 31 December 2010 (the "Redemption Date"). As the number of 
redemption requests received exceeds this 10 per cent. limit for each class of 
share, each shareholder's redemption request will be reduced pro rata. 
 
Redemption requests from shareholders for shares in excess of their basic 
entitlement will be scaled back pro rata within each share class, with each 
shareholder receiving a percentage of their election for further shares in 
accordance with the procedure set out in the Company's Articles of Association. 
 
The Company's Articles of Association contain provisions enabling shareholders 
of any one class of shares in a cell in issue to switch all or part of their 
holding into any other class of shares in a cell in issue as at the NAV 
calculation date referable to the months of March and September in each year 
(each a "Conversion Calculation Date"). 
 
Shares of each class arising on conversion will be calculated on or around 29 
October 2010, following which the Company will make a further announcement 
disclosing an estimate of the percentage of  shares to be redeemed in excess of 
the basic entitlement to be satisfied for each of the share classes based on the 
shares of each class in issue as at that date. 
 
In the event that there are any changes to the Company's issued share capital 
between that date and 31 December 2010 a further announcement confirming the 
final scale back percentage and total number of shares to be redeemed for each 
share class will be made on or around 4 January 2011. 
 
 
The December 2010 Redemption Facility is now closed and shareholders can no 
longer submit requests for the December Redemption Offer. Shareholders are 
reminded that all shares tendered for redemption will be held in escrow and will 
not be available for trading until the redemption is completed on or around the 
week commencing 7 February 2011, in accordance with the timetable below. 
 
Shares will be redeemed on the Redemption Date, at their Net Asset Value on that 
date less the costs of redemption which will include any early redemption 
penalties or secondary market discounts in respect of certain underlying funds 
that have "side pockets", "lock-up" periods, "gates", or otherwise do not permit 
redemptions for significant periods. 
 
Redemption will become effective on 31 December 2010.  The redemption monies 
payable in respect of redemption of any certificated shares will be paid to the 
holder (or, in the case of joint holders, to the holder whose name stands first 
in the register in respect of the shares) by cheque despatched within 10 
business days of the completion of the calculations of the Net Asset Value of 
the Company as at 31 December 2010 (or as soon as practicable) or, if later, 
within 5 business days of the receipt of the certificate(s) (if any have been 
issued) or an indemnity in a form satisfactory to the Directors in lieu of the 
certificate(s) in respect of the shares being redeemed. 
 The calculation of the Net Asset Value of the Company as at 31 December 2010 is 
expected to be completed on or around 28 January 2011 and payment is expected to 
be made, and all shares released from escrow, during the week commencing 7 
February 2011. 
If a holder whose certificated shares are to be redeemed fails to deliver the 
certificate(s) (if issued) for those shares to the Company, the Company may 
retain the redemption monies until such certificate is delivered. 
The redemption monies payable in respect of the redemption of any uncertificated 
shares will be paid within 10 business days of the completion of the 
calculations of the Net Asset Value of the Company as at 31 December 2010 (or as 
soon as practicable) to the holder by such method as may be determined by the 
Directors. 
 
Expected timetable: 
 
Announcement of the estimated percentage of elections for further shares to be 
satisfied - on or around 29 October 2010 
 
Redemption Calculation Date - 31 December 2010 
 
Confirmation of the final percentage of elections for further shares to be 
satisfied - on or around 4 January 2011 
 
31 December 2010 Net Asset Value publication  - on or around 28 January 2011 
 
Redemption monies paid - week commencing 7 February 2011 
 
Enquiries: 
 
Thames River Capital LLP 
Michael Warren                       Phone: +44 (0) 20 7360 1370 
 
 
Cenkos Securities plc 
Dion Di Miceli                          Phone: +44 (0) 20 7397 1921 
 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Fraser Hiddelston                    Phone: +44 (0) 1481 745738 
 
Computershare Investor Services (Jersey) Limited 
Shirley Thomas                       Phone: +44 (0) 1534 281824 
 
 
 
 
 The Company is an authorised closed-ended investment scheme domiciled in 
Guernsey. As an existing closed-ended fund the Company is deemed to be granted 
an authorisation declaration in accordance with section 8 of the Protection of 
Investors (Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the 
Authorised Closed-ended Investment Schemes Rules 2008 on the same date as the 
Company obtained consent under the Control of Borrowing (Bailiwick of Guernsey) 
Ordinance 1959 to 1989. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCSEMFIAFSSEIU 
 

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