Distribution of cash following redemption of bond (1021D)
10 Maio 2012 - 10:44AM
UK Regulatory
TIDMRRF
RNS Number : 1021D
Rapid Realisations Fund Limited
10 May 2012
10 May 2012
RAPID REALISATIONS FUND LIMITED
("Rapid" or "the Company")
Distribution of cash following redemption of bond
Rapid Realisations Fund Limited (AIM: RRF), announces that on 10
May 2012 it fully redeemed its convertible bond in Providence
Resources Plc, an Irish based upstream oil and gas company active
in Ireland and the United Kingdom, receiving GBP4.345 million in
cash.
As a result of this transaction, Rapid will use the sale
proceeds to return capital to shareholders and the board have
resolved to return to shareholders 8p per Share by way of a bonus
issue of B Shares to Shareholders on the Company's register on the
record date of 18 May 2012. The Company's Shares will be marked
ex-dividend on 16 May 2012.
Following their issue the B Shares will be immediately redeemed
by the Company on a pro rata basis. The redemptions will have an
anticipated settlement date of 23 May 2012.
-ends-
Enquiries:
Grant Thornton Corporate Finance Philip Secrett / David Hignell
+44 (0)20 7383 5100
Rapid Realisations Fund Limited Rhys Davies
+41 (0) 79 620 0215
This information is provided by RNS
The company news service from the London Stock Exchange
END
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