Proposals for managed wind-down (8740F)

TIDMTRMA TIDMTRMU TIDMTTM

RNS Number : 8740F

Thames River Multi Hedge PCC Ltd

21 June 2012

THAMES RIVER MULTI HEDGE PCC LIMITED

(a closed-ended umbrella investment protected cell company incorporated with limited liability under the laws of Guernsey with registered number 41511)

Proposals for change to investment policy and managed wind-down

The Company was incorporated on 6 January 2004 with an objective of seeking attractive absolute returns. In the period since incorporation, the Net Asset Value ("NAV") of the Sterling Shares has increased by 32%.

Notwithstanding the above, market conditions remain difficult. They continue to impact the Company's performance, the ongoing market rating of the Company's Shares (despite extensive use of buy-backs and implementation of the Company's redemption facility) and secondary trading liquidity in the Company's Shares, which has further deteriorated since completion of the tender offer for 50% of the Company's shares earlier this year.

As at 20 June 2012, the market capitalisation of the Company was GBP49 million and the discount at which its Shares traded was 12.9% for the Sterling Shares, 11.2% for the Euro Shares and 11.3% for the Dollar Shares.

Taking into account the above factors and the views of a number of shareholders, the Board has now determined to recommend to Shareholders that the Company should commence a managed wind-down of its portfolio with a view to realising its investments in a manner consistent with the principles of prudent investment management and returning capital to Shareholders.

This proposal constitutes a material change to the Company's investment policy and requires Shareholder approval before it can be implemented. The Company is currently taking legal and financial advice and a circular convening an Extraordinary General Meeting to seek such approval and containing further details of the managed wind-down process will be circulated to Shareholders as soon as practicable.

Enquiries:

Thames River Capital LLP

   Ed Morse                               Tel: +44 (0) 20 7360 1270

Cenkos Securities plc

   Charlie Ricketts                      Tel: +44 (0) 20 7397 1910 
   Dion Di Miceli                        Tel: +44 (0) 20 7397 1921

Northern Trust International Fund Administration Services (Guernsey) Limited

   Fraser Hiddelston                    Tel: +44 (0) 1481 745738

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

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