Alternative Invest. Strategies Ld Redemption and Total Voting Rights (0917A)
14 Fevereiro 2014 - 5:30AM
UK Regulatory
TIDMAIS
RNS Number : 0917A
Alternative Invest. Strategies Ld
14 February 2014
Alternative Investment Strategies Limited (the "Company")
Compulsory Redemption, Total Voting Rights, Directors Holdings,
Removal of Currency Hedging and Liquidation
14 February 2014
Compulsory Redemption
On 3 February 2014, the Company announced that it would return
approximately GBP24.38 million(equivalent to 97.0088p per Share) to
holders of Shares on 13 February 2014 by way of a compulsory
partial redemption of Shares. Further to that announcement, the
redemption of 17,089,501 Shares was effected at close of business
on 13 February 2014, at a Redemption price of 142.66p per Share
(being the Net Asset Value per Share on 31 December 2014). The
Redemption was effected pro rata to holdings of Shares on the
register as at close of business on 13 February 2014. The number of
Shares redeemed represents 68 per cent. of the Company's issued
share capital (that is 68 Shares for every 100 Shares held), with
fractions of Shares not redeemed.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure
and Transparency Rules, as at today's date, the total number of
Shares now in issue is 8,042,307 of which none are held in
treasury.
Accordingly, the total number of voting rights in the Company is
now 8,042,307 and this figure may be used by Shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in the Company under the FCA's Disclosure and Transparency
Rules.
Directors Holdings
As a result of this compulsory partial redemption of shares, the
Directors now hold the following number of ordinary shares:
Director Number of Shares
------------------ -----------------
Nicholas Wilson 376
------------------ -----------------
Duncan Baxter 1900
------------------ -----------------
Alan Djanogly 913
------------------ -----------------
John Walley 23142
------------------ -----------------
Richard Hotchkis 4701
------------------ -----------------
Sean Molony 3574
------------------ -----------------
Removal of Currency Hedging
In accordance with the proposals for the Managed Wind-down
detailed in the circular to shareholders dated 15 May 2013 (the
"Circular"), the currency hedging programme which had been
maintained throughout the Managed Wind-down has now been terminated
with immediate effect. The Company's remaining underlying
investments are denominated in US dollars so that, going forward,
shareholders will be exposed not only to the investment performance
of the Company's underlying portfolio holdings but also to
fluctuations in the US dollar/Sterling exchange rate. However, the
Investment Manager will continue to hold cash in Sterling and be
converting cash received by the Company as part of the Managed
Wind-down into Sterling.
Liquidation
Further to the Circular, the Board expects that the Company will
be put into liquidation in May 2014, with a circular being
despatched to shareholders in due course in order to convene the
necessary general meeting to implement the liquidation. It is
anticipated that a further distribution will be made to
shareholders in May 2014 in the form of a first liquidation
distribution shortly after the Company has been placed in
liquidation.
Enquiries
International Asset Management Limited
Sean Molony
Tel: +44 (0) 20 7734 8488
Canaccord Genuity Limited
Andrew Zychowski / Lucy Lewis
Tel: +44 (0) 20 7523 8000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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