Reminder of Subscription Share rights
Baker Steel Resources Trust Limited
11 March 2011
Reminder of Subscription Share rights to subscribe for Ordinary Shares at 100p per share
This announcement is issued by way of reminder only and is not to be read as a recommendation to Subscription Shareholders to exercise their Subscription Share Rights or otherwise. There will be further opportunities to exercise unexercised Subscription Share rights at 100p per Ordinary Share on 31 March and 30 September each year until (and including) 31 March 2013.
Exercise of Subscription Share Rights held in Certificated form
Shareholders wishing to exercise their Subscription Share Rights, who hold their shares in Certificated form, should refer to the instructions on the reverse of their Subscription Share Certificate(s).
Shareholders must lodge the relevant Subscription Share certificate(s) at the office of Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU, United Kingdom during the period of 28 days ending at 5.00 pm on the relevant Subscription Date (31 March 2011), having completed the notice of exercise of Subscription Share Rights, and a remittance for the aggregate Subscription Price for the Ordinary Shares in respect of which the Subscription Share Rights are being exercised. Shares will be allotted within 14 days of the relevant Subscription Date (by 14 April 2011).
Lost, Stolen, or Destroyed Certificates
If your Subscription Share certificate(s) are lost, stolen or destroyed, please contact the Capita Registrars Shareholder Helpline immediately for instructions on how to proceed, or alternatively send a written request for a letter of indemnity for a lost Subscription Share certificate.
There may be a fee for this service.
In the event of a replacement Subscription Share certificate being requested, it is standard share registration practice to issue an indemnity when a share certificate is reported lost, stolen or destroyed. To enable us to issue an indemnity, you will need to contact the Shareholder Helpline on 0871 664
0386 (calls cost 10p per minute plus network extras). Other network providers' costs may vary. Lines are open from 9:00 a.m. to 5:30 p.m. (UK time) Monday to Friday (excluding UK public holidays). If you are calling from outside the United Kingdom, please telephone +44 20 8639 3407. Calls to the helpline from outside the UK will be charged at the applicable international rate. Different charges may apply to calls from mobile telephones and calls may be recorded and randomly monitored for security and training purposes. The Shareholder Helpline cannot give any financial, legal or tax advice.
For a written request, please send it to Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU, United Kingdom
Exercise of Subscription Share Rights held through CREST
Shareholders wishing to exercise their Subscription Share Rights, who hold their Shares through CREST, should send a USE (Unmatched Stock Event) instruction as set out below together with a remittance for the aggregate Subscription Price in respect of which the Subscription Share Rights are being exercised. When sending a USE instruction Shareholders should use the following participation and member account IDs when processing their applications:
CREST Participant ID = RA06
CREST Member Account ID = BSRTSUB
The USE (instruction should be inputted to settle by 2.00 p.m. on the relevant Subscription Date (31 March 2011). Shares will be allotted within 14 days of the relevant Subscription Date (by 14 April 2011).
All times referred to relate to the normal CREST daily timetable. It is a Subscription Shareholder's responsibility to monitor that timetable for changes until 2.00 p.m. on 31 March 2011 and to take appropriate action if any of the events are brought forward.
Share price information and basis of conversion
The closing prices for the Company's Ordinary Shares and Subscription Shares, taken from the Daily Official List of the London Stock Exchange on the first dealing day in each of the six months prior to the date of this announcement and on the latest practicable date prior to the date of this announcement, were as follows:
|
Price per Ordinary Share (pence) |
Price per Subscription Share (pence) |
|
|
1 October 2010 |
83.50 |
15.25 |
|
1 November 2010 |
98.50 |
19.00 |
|
1 December 2010 |
87.00 |
16.50 |
|
4 January 2011 |
80.25 |
15.50 |
|
1 February 2011 |
83.00 |
15.50 |
|
1 March 2011 |
98.75 |
20.50 |
|
10 March 2011 |
96.25 |
20.00 |
Each Subscription Share entitles its holder to subscribe for one Ordinary Share at a price of 100p per Ordinary Share. Subscription Share rights attached to a Subscription Share are capable of being exercised on one occasion only. Once the rights attached to a Subscription Share are exercised, the Subscription Share will become effectively valueless.
The Subscription Shares do not entitle holders to dividends or interest. It is not currently envisaged that any income or gains will be distributed by the Company by way of dividend.
Taxation for holders resident for tax purposes in the United Kingdom
For the purposes of United Kingdom capital gains tax and corporation tax on chargeable gains, on exercise of the right in respect of any Subscription Shares to subscribe for Ordinary Shares, the Ordinary Shares issued will be treated as the same asset as the Subscription Shares in respect of which the Subscription Share Rights are exercised. The base cost of each such Ordinary Share will be the aggregate of the deemed base cost of the Subscription Share that it replaces and the Subscription Price. Further information relating to taxation can be found at Part VII of the prospectus dated 31 March 2010.
If you have any enquiries regarding the procedures described above, these should be referred, in the case of CREST sponsored members, to their CREST sponsor and, in the case of other members including CREST sponsors, to the Receiving Agent, at Capita Registrars, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU, United Kingdom.
HSBC Securities Services (Guernsey) Limited
Secretary
This information is provided by RNS