Return of Capital - Corero Network Security plc (3784Z)
15 Mars 2012 - 8:00AM
UK Regulatory
TIDMLWT TIDMCNS
RNS Number : 3784Z
Loudwater Trust Limited
15 March 2012
15(th) March 2012
LOUDWATER TRUST LIMITED
("LOUDWATER" OR "THE COMPANY")
RETURN OF CAPITAL - B SHARE ISSUE
Loudwater Trust Limited, the closed-ended investment company, is
pleased to announce that following the sale of the Company's listed
shares in Corero Network Security plc, the Board of Directors have
approved a return of GBP1.854 million of capital to shareholders,
equating to approximately 3.08 pence per share.
The capital will be returned by way of a bonus issue of B shares
to shareholders pro rata to shareholders' existing holdings of
ordinary shares in the capital of the Company. The B shares will be
issued to shareholders on the Company's register on the record date
of 23 March 2012 and will have an ex-date of 21 March 2012.
Following their issue, the Directors are expected to consider
the redemption of the issued B shares on or around 26 March 2012. A
subsequent announcement will then be released confirming the
decision of the Board.
The Company's investing policy is to return the cash proceeds of
all realisations to investors, subject to the retention of
sufficient cash for follow-on investments in existing portfolio
companies where the Investment Adviser believes further funding is
required.
-ends-
For further information
Loudwater Investment
Partners Limited
Charles Somerset +44 (0)20 3372 6400
Panmure Gordon (UK) Limited
Andrew Potts +44 (0)20 7459 3600
Note
http://www.loudwatertrust.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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