Absolute Return Trust Limited Capital Return (3049L)
08 Août 2013 - 3:55PM
UK Regulatory
TIDMABR
RNS Number : 3049L
Absolute Return Trust Limited
08 August 2013
Absolute Return Trust Limited (the "Company")
(a closed-ended investment company incorporated with limited
liability under the laws of Guernsey with registered number
42733)
Notice of Compulsory Partial Redemption of Shares
8 August 2013
Notice of compulsory partial redemption of shares in Absolute
Return Trust Limited (the "Company").
Further to the approval by the Company's shareholders of the
winding down proposals as described in the circular to shareholders
on 15 August 2012 (the "Circular") the Company today announces that
it will return 49.02 pence and 34.62 EUR cents per GBP and EUR
share respectively on 23 August 2013 (the "Redemption Date") by way
of a third compulsory partial redemption of shares (the
"Redemption") by reference to the 30 June 2013 NAV Calculation
Date.
On 21 December 2012, the Company executed an initial compulsory
partial redemption of 74 per cent. of shares outstanding with
reference to the 31 October 2012 NAV. On 24 May 2013, the Company
executed a second compulsory partial redemption of 16 per cent. of
shares outstanding with reference to the 31 October 2012 NAV. In
conjunction with this initial and second capital return, the effect
of the third partial redemption announced today will be that 93 per
cent. of the Company's NAV as at 31 October 2012 will have been
returned since the approval by the Company's shareholders of the
winding down proposals at the Company's EGM on 7 September 2012
The Redemption will be effected pro rata to holdings of shares
on the register at the close of business on the Redemption Record
Date, being 16 August 2013 and 35 per cent. of the Company's issued
share capital will be redeemed on the Redemption Date (that is 35
Shares for every 100 shares held respectively (the "Relevant
Percentage")). Fractions of Shares will not be redeemed and so the
number of shares to be redeemed for each shareholder will be
rounded down to the nearest whole number of shares.
The amount to be applied to the partial redemption of shares
comprises the monies from the realisation of the Company's
investments received up to and including 31 July 2013 pursuant to
the winding down of the Company, less the cash required to settle
any liabilities (including the estimated ongoing day to day running
costs of the Company, and the costs and expenses of this partial
redemption). The costs and expenses of this partial redemption are
estimated not to exceed GBP5,000, equivalent to approximately 0.1p
per share being redeemed.
As at today's date, the Company has 15,607,837 GBP shares and
958,769 EUR shares in issue of which none are held in treasury. All
of the shares redeemed on the Redemption Date will be cancelled. A
further announcement will be released following the Redemption
Record Date to confirm the new number of shares in issue for each
share class.
The shares will be disabled in CREST on the Redemption Date and
the existing ISINs numbers GG00B9NMW217 and GG00B9GQ2X10 (the "Old
ISINs") for the Company's shares will expire on the Redemption Date
(23 August 2013). The new ISIN numbers GG00BCCW5806 (GBP shares)
and GG00BCCW5C45 (EUR shares) (the "New ISIN") in respect of the
Company's shares (post the Redemption) will be enabled from and
including 23 August 2013. Up to the Redemption Date (but not
including the 23 August 2013), Shares will be traded under the Old
ISIN. The Redemption will be effected pro rata to holdings of
shares on the register at the close of business on the Redemption
Record Date, being 16 August 2013. Purchases of shares that were
unsettled as at the close of business on the Record Date, including
trades arranged after the Record Date but before the Redemption
Date, will be transformed automatically by CREST and will settle
under the New ISINs with an accompanying delivery of cash though
CREST in respect of the redemption proceeds.
Payments of redemption monies are expected to be effected either
through CREST (in the case of shares held in un-certificated form)
or by cheque (in the case of shares held in certificated form) by
23 August 2013.
All Enquiries:
Andrew Maiden
Northern Trust International Fund Administration Services
(Guernsey) Limited
Tel: +44 (0) 1481 745368
This information is provided by RNS
The company news service from the London Stock Exchange
END
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