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Dexion Absolute Limited  -  DAB   

Results of 2013 Redemption Offers

Released 09:44 18-Mar-2013

RNS Number : 2183A
Dexion Absolute Limited
18 March 2013
 



18 March 2013

 

Dexion Absolute Limited

 

Results of 2013 Redemption Offers

 

The Board of Dexion Absolute Limited (the "Company") announces that acceptances of the 2013 Redemption Offers have been received for 123,037,150 GBP Shares (representing approximately 45.99% of the issued GBP Shares), 1,458,371 EUR Shares (representing approximately 49.02% of the issued EUR Shares) and 5,438,944 US$ Shares (representing approximately 67.65% of the issued US$ Shares).

 

Those Redeemed Shares have an aggregate value (using the estimated net assets of the Company as at 8 March 2013 and prevailing spot currency exchange rates) of approximately US$339.4 million (or approximately 47% of the estimated net assets of the Company).  

 

Accordingly, noting the announcement by the Company on 15 March 2013 that the Restructuring Resolution had been passed, the 2013 Redemption Offers have now been declared unconditional. 

 

As set out in the circular dated 22 February 2013 (the "Circular"), a Redemption Portfolio will be created in respect of those Redeemed Shares with a Portfolio Split Date of 28 February 2013.  The first settlement date for Redeemed Shares is expected to be in August 2013.

 

Currency hedging arrangements for the Redeemed Shares are expected to cease at or around close of business London time on 28 March 2013.

 

Enquiries:

 

Robin Bowie / Ana Haurie

Dexion Capital plc

 

Tel: +44 (0)20 7832 0900

Carol Kilby / Chris Copperwaite

Dexion Capital (Guernsey) Limited

 

Tel: +44 (0)1481 743 940

Stuart Klein

Jefferies Hoare Govett

 

Tel: +44 (0)20 7029 8000

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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Results of 2013 Redemption Offers - RNS