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Company Dexion Absolute Limited
TIDM DAB
Headline

Conversion Notice

Released 07:00 01-Feb-2013
Number 4707V07

RNS Number : 4707V
Dexion Absolute Limited
01 February 2013
 



1 February 2013

 

Dexion Absolute Limited (the "Company)

 

Conversion Notice

 

Pursuant to the Company announcement on 29 May 2009 the Board has exercised its discretionary powers under the Articles to permit conversions between classes of Ordinary Shares on a monthly basis.  The following announcement sets out the expected conversion timetable for February 2013.

 

Such conversions will be on the basis of the ratio of the estimated NAV of the class of Ordinary Shares to be converted (less the costs of effecting such conversion), to the estimated NAV of the class of Ordinary Shares into which such shares will be converted (each as at the relevant NAV Calculation Date), and otherwise as set out in the Articles.

 

Shareholders may convert Ordinary Shares of any class into Ordinary Shares of any other class by giving not less than 5 business days' notice to the Company in advance of the relevant Conversion Calculation Date. 

 

In the case of Ordinary Shares held in uncertificated form, the relevant USE instruction(s) must be submitted to Capita Registrars by not later than 3.00 p.m. on the date 5 business days in advance of the relevant Conversion Calculation Date using the CREST information provided below and by viewing the relevant corporate action details in CREST:

 

CREST PARTICIPANT ID - RA10

 

MEMBER ACCOUNT CODE:

STERLING TO EURO      

                      

-

GBP2EUR

STERLING TO US DOLLAR

                          

-

GBP2USD

EURO TO STERLING        

                    

-

EUR2GBP

EURO TO US DOLLAR    

                        

-

EUR2USD

US DOLLAR TO STERLING

                             

-

USD2GBP

US DOLLAR TO EURO  

                         

-

USD2EUR

In the case of Ordinary Shares held in certificated form, a Conversion Notice must be requested from the Company's Transfer Agent at the following address:

 

Capita Registrars Limited

The Registry

34 Beckenham Road

Beckenham

Kent BR3 4TU

 

Telephone:  From UK:  0871 664 0300 (Calls cost 10p per minute plus network extras - lines are open from 9am - 5.30pm Monday - Friday, excluding public holidays)  From Overseas:  +44 208 639 3399 (calls from outside the UK are charged at applicable international rates)

 

To be valid the Conversion Notice and the appropriate Share certificate must be received at the above address by not later than 3.00 p.m. on the date 5 business days in advance of the relevant Conversion Calculation Date.

 

In addition Shareholders should note, that fractions of Ordinary Shares arising on conversions will be rounded down and that the costs of conversion may be disproportionate to the value of the Ordinary Shares converted.  Hence the aggregate Net Asset Value of those Ordinary Shares held after conversion may be less than before such conversion.  Shareholders should also note that if they elect to convert Ordinary Shares (whether held in certificated or uncertificated form) they will be unable to deal in those Ordinary Shares during the period between giving notice of conversion and the actual date of conversion. Such notice, once given, shall be irrevocable without the consent of the Directors.

 

This notice is for information only.  Any Shareholder who is in any doubt whether or not to convert any of their shares is recommended to contact an independent financial adviser.

 

Expected timetable

 

 

 

February 2013 Conversions

 

 

Latest date for submission of relevant USE instruction(s) or receipt of Conversion Notice and Share certificate (as appropriate)

 

3.00 p.m. on 21 February 2013

Conversion Calculation Date

 

28 February 2013

Conversion Date

 

18 March 2013

 

 

Enquiries:

 

Chris Copperwaite

Dexion Capital (Guernsey) Limited

Tel: +44 (0)1481 732815

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Conversion Notice - RNS