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RNS Number : 3427W

Thames River Multi Hedge PCC Ltd

24 January 2013

THAMES RIVER MULTI HEDGE PCC LIMITED (the "Company")

(a closed-ended, umbrella investment, protected cell company incorporated with limited liability under the laws of Guernsey with registered number 41511)

Redemption of Shares

Further to the Company's announcement on 22 November 2012 and the powers granted to the Board at the Company's extraordinary general meeting on 11 September 2012, the Company today announces that 46.78 per cent. of the Company's prevailing net asset value (NAV) will be redeemed at close of business on 31 January 2013 (the "Redemption Date") by way of a compulsory partial redemption of shares by reference to the unaudited NAV of the Company as at 18 January 2013 (the "First Redemption").

Sterling Shares, Euro Shares and Dollar Shares will be redeemed as at the Redemption Date, by reference to the Net Asset Value per Share of the relevant class as at 18 January 2013 less any costs associated with the First Redemption (the "Redemption Price").

The First Redemption will be effected pro rata to holdings of Shares of each class on the register at the close of business on the Redemption Date (which is the record date for the purposes of the First Redemption), being 31 January 2013.

The payments, being made on or around the 4 February 2013, to be made to shareholders of each share class in respect of redeemed shares will be as follows:

* Approximately GBP25.6 M to the Sterling Share class (equivalent to GBP1.3432 per share);

* Approximately $0.9 M to the Dollar Share class (equivalent to $1.1297per share);

and

* Approximately EUR0.3M to the Euro share class (equivalent to EUR1.2194 per share),

Fractions of Shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.

All of the shares redeemed on the Redemption Date will be cancelled.

The shares of each of the Company's share classes will be disabled in CREST on the Redemption Date and the existing ISIN numbers GB0034081512 (Sterling), GG00B1F2KP28 (Dollar) and GB0034081629 (Euro) will expire.

The new ISIN numbers GG00B7TC2G59 (Sterling), GG00B8NGB074 (Dollar) and GG00B8LF3S86 (Euro) in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 1 February 2013. Up to and including the Redemption Date, Shares will be traded under the Old ISINs and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISINs.

Redesignation of all Euro and Dollar shares as Sterling shares and currency hedging

Pursuant to the announcement by the Company on 22 November 2012 following the First Redemption all Euro Shares and Dollar Shares shall be re-designated as Sterling Shares on or around 8 February 2013 based on the respective unaudited Net Asset Value of the Sterling, Euro and Dollar Shares as at 31 January 2013. The Company has submitted applications to the UK Listing Authority to cancel the listing of the Euro share class and Dollar share class on or around 8 February 2013.

The Board will terminate the Company's currency hedging programme with effect from 1 February 2013. Consequently, from such time the Company will be exposed to exchange rate fluctuations to the extent that underlying investments are in currencies other than Sterling.

Expected timetable

 
 Record Date, Redemption Date,       31 January 2013 (close of business) 
  expiry of old ISIN numbers. 
----------------------------------  ------------------------------------ 
 New ISINs enabled, Crest Accounts   1 February 2013 
  credited, cancellation of the 
  currency hedging programme. 
----------------------------------  ------------------------------------ 
 Redemption monies paid (on or       4 February 2013 
  around) 
----------------------------------  ------------------------------------ 
 Conversion Calculation Date         31 January 2013 (close of business) 
----------------------------------  ------------------------------------ 
 Record Date for Conversion          7 February 2013 (close of business) 
----------------------------------  ------------------------------------ 
 Conversion Date (on or around)      8 February 2013 (close of business) 
----------------------------------  ------------------------------------

Queries to:

Tracy Fennell at Thames River Capital LLP: + 44 207 011 4455

Stephen Rouxel at State Street (Guernsey) Limited: + 44 1481 704544

Dion Di Miceli at Cenkos Securities Plc : + 44 207 397 1921

The Company is an authorised closed-ended investment scheme domiciled in Guernsey. As an existing closed-ended fund the Company is deemed to be granted an authorisation declaration in accordance with section 8 of the Protection of Investors (Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the Authorised Closed-ended Investment Schemes Rules 2008 on the same date as the Company obtained consent under the Control of Borrowing (Bailiwick of Guernsey) Ordinance 1959 to 1989.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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