Update on conversion error

RNS Number : 6145R

Highbridge Multi-Strategy Fd Ltd £

09 March 2016

 

HIGHBRIDGE MULTI-STRATEGY FUND LIMITED (THE "COMPANY")

9 March 2016

UPDATE ON CONVERSION ERROR

Further to the Company's announcement released at 8.30 a.m. on 7 March 2016 under RNS number 2184R, the Company confirms that the conversion ratio of 0.826008375 Sterling Shares for every one US Dollar Share, announced on 26 February 2016 under RNS number 3793Q, was incorrect.  The correct conversion ratio is 0.682274798 Sterling Shares for every one US Dollar Share.

The impact of this error was that shareholders whose US Dollar Shares were compulsorily converted into Sterling Shares were credited with, in aggregate, too many Sterling Shares, representing approximately 0.72 per cent of the Company's total issued share capital.  The Company's register of members and the electronic register maintained by CREST is therefore incorrect.

The Company and its advisers are currently discussing with Euroclear UK & Ireland the process involved in rectifying the Company's register of members and the electronic register maintained by CREST in order to permit Euroclear UK and Ireland to re-enable settlement and enable the Company to request the lifting of the temporary suspension from listing on the Official List of the Sterling Shares. The Company will make a further announcement tomorrow.

The Directors re-iterate that neither the error in calculating the conversion ratio, nor its rectification, should have any impact on the Net Asset Value per share of the Sterling Shares.

For further information about this announcement contact:

JTC (Guernsey) Limited

Secretary

Tel:  [phone]

Email: [e-mail]

END OF ANNOUNCEMENT

E&OE - in transmission.

 

END

 

 

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