Results of Redemption Offers and EGM


 

TIDMDASL 
 
RNS Number : 6737W 
Dexion Alpha Strategies Limited 
31 July 2009 
 

31 July 2009 
 
 
Dexion Alpha Strategies Limited 
 
 
Results of Redemption Offers and EGM 
 
 
The Board of Dexion Alpha Strategies Limited (the "Company") is pleased to 
announce that the Reorganisation Resolution was unanimously approved by 
Shareholders at the Extraordinary General Meeting held today as follows: 
 
+--------------------------+------------------------+--------------------------+ 
| Total Shares voted (% of | Votes cast in favour   | Votes cast against (% of | 
| aggregate issued share   | (% of votes cast in    | votes cast against)      | 
| capital)                 | favour)                |                          | 
|                          |                        |                          | 
+--------------------------+------------------------+--------------------------+ 
| 47,971,639 (55.3%)       | 47,971,639 (100.0%)    | Nil                      | 
+--------------------------+------------------------+--------------------------+ 
 
 
 
 
The Board also announces that acceptances of the Redemption Offers have been 
received for: 
 
 
  *  27,925,515 GBP Shares (approximately 40.1% of the issued GBP Shares); 
 
  *  9,165,328 EUR Shares (approximately 57.7% of the issued EUR Shares); and 
 
  *  206,848 US$ Shares (approximately 15.2% of the issued US$ Shares). 
 
The Net Asset Value of the Continuing Portfolio (using the estimated net assets 
of the Company as at 24 July 2009, prevailing spot currency exchange rates and 
net of attributable expenses of the Reorganisation Proposals) is approximately 
GBP47.9 million. Accordingly, the Board is pleased to confirm that the Minimum 
Size Condition has been met and the Reorganisation Proposals have become 
effective. The Wind Down Resolution was also duly passed at the EGM but, as the 
Reorganisation Proposals have become effective, a Wind Down will not take place. 
 
 
The investment policy for the Continuing Portfolio will now be refocused as a 
multi-manager, multi-strategy portfolio of commodities themed hedge funds to be 
managed on a day to day basis by MAN Investments (CH) AG (formerly RMF 
Investment Management). To better reflect the Company's revised investment 
policy, the Company's name will shortly be changed to Dexion Commodities 
Limited. 
 
 
Robin Bowie, Chairman of Dexion Capital, said: "We are very pleased that 
investors have shown such positive support of the Reorganisation Proposals to 
transform Dexion Alpha Strategies into Dexion Commodities. Dexion Commodities 
will enable investors to access hedge funds trading actively in environmental 
and commodities markets. MAN Investments' roots are in the commodity sector and 
their commodities fund of funds product is a consistent top performer". 
 
 
The Redeemed Shares have an aggregate value (using the estimated net assets of 
the Company as at 24 July 2009 and prevailing spot currency exchange rates) of 
approximately GBP36.3 million. As set out in the Circular dated 10 July 2009, a 
Redemption Portfolio will be created in respect of those Redeemed Shares. A 
further announcement clarifying the first settlement date for Redeemed Shares 
and the liquidity profile of the Redemption Portfolio will be made in due 
course. 
 
 
Enquiries: 
 
+--------------------------------+--------------------------------------------+ 
| Robin Bowie / Ana Haurie       | Tel: +44 (0) 20 7822 2260                  | 
| Dexion Capital Plc             |                                            | 
|                                |                                            | 
+--------------------------------+--------------------------------------------+ 
| Anthony Payne                  | Tel: +44 (0) 20 3178 6869                  | 
| Peregrine Communications Group |                                            | 
|                                |                                            | 
+--------------------------------+--------------------------------------------+ 
| Gary Gould / Stuart Klein      | Tel: +44 (0) 20 7678 8000                  | 
| RBS Hoare Govett Limited       |                                            | 
|                                |                                            | 
+--------------------------------+--------------------------------------------+ 
 
Terms used in this announcement shall, unless the context otherwise requires, 
bear the meanings given to them in the Circular dated 10 July 2009. 
A copy of the Circular will shortly be available for public inspection at the 
Document Viewing Facility, the Financial Services Authority, 25 North Colonnade, 
Canary Wharf, London E14 5HS. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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