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Dexion Absolute Limited  -  DAB   

Fourth Payment of Redemption Monies

Released 16:09 19-Feb-2013

RNS Number : 2291Y
Dexion Absolute Limited
19 February 2013
 



 

19 February 2013

 

Dexion Absolute Limited

 

2011 Redeemed Shares

 

Fourth Payment of Redemption Monies for Redeemed € Shares

 

Further to the announcement on 10 August 2012, the Board of Dexion Absolute Limited (the "Company") confirms that the fourth redemption payment for Redeemed € Shares will be US$ 0.031819 per Redeemed € Share and is expected to be made on 28 February 2013.

 

Payments now made (or advised) to Redeeming € Shareholders total approximately 91 per cent. (in US$ terms) of the NAV of such Redeemed € Shares as at 31 May 2011, the Portfolio Split Date.

 

Following this fourth redemption payment, the NAV of the Redemption Portfolio, based on the estimated NAV of such Redeemed € Shares as at 31 January 2013, will be approximately US$5.1 million, of which approximately US$4.6 million is invested in designated investments (or "side pockets") that have no definitive redemption date. The value of designated investments equates to approximately 91.9% of the Redemption Portfolio's expected NAV immediately following the fourth redemption payment.

 

US dollar redemption proceeds received by the Company will be converted into € using the prevailing spot foreign exchange rate as at approximately 1600hrs GMT on 25 February 2013.

 

This fourth payment of redemption monies to Redeeming € Shareholders whose Redeemed € Shares are held in uncertificated form (that is in CREST) will be made through the CREST system to the Redeeming € Shareholder's CREST account. Payments of redemption monies to Redeeming € Shareholders whose Redeemed € Shares are held in certificated form (that is not in CREST) will be made by way of cheque (drawn on a branch of a UK clearing bank) by post to the registered address of the Redeeming € Shareholder (or, in the case of joint holders, the holder whose name appears first in the register of members) at the sole risk of that Redeeming € Shareholder.

              

Enquiries:

 

Chris Copperwaite

Dexion Capital (Guernsey) Limited

Tel: +44 (0) 1481 732815

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Circular dated 15 April 2011.


This information is provided by RNS
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Fourth Payment of Redemption Monies - RNS