Replacement - Net Asset Value(s)

RNS Number : 8957D

Acorn Income Fund Ld

02 April 2014

 



ACORN INCOME FUND LIMITED (the "Company")

CORRECTION TO NET ASSET VALUE ANNOUNCEMENT

This announcement replaces that released on Tuesday 1 April 2014 at 2:20pm under RNS Number 7583D.

There are four changes to the previous announcement in relation to the Ordinary Share price as follows:

The cum-income net asset value of an Ordinary Share as at 28 March 2014 was 368.81 not 367.54 as previously stated and;

The ex-income net asset value of an Ordinary share as at 28 March 2014 was 368.40 not 367.13 as previously stated and;

The Total assets less current liabilities as at the above date was £84.797 million not £84.592 million as previously stated and;

Net assets attributable to holders of Ordinary Shares as at the above date was £59.723 million and not £59.518 million as previously stated.

All other details remain unchanged. The full corrected announcement is as follows:

NET ASSET VALUE as at 28 March 2014

ORDINARY SHARES

The Company announces that the cum-income net asset value of an Ordinary Share as at the above date was 368.81 pence.*

The ex-income net asset value of an Ordinary Share as at the above date was 368.40 pence.**

*Cum-income net asset value includes all current year income, less the value of any dividends which have been declared and marked ex dividend but not yet paid.

**Ex-income net asset value excludes all current year income as well as the value of any dividends which have been declared and marked ex-dividend.

The above net asset values for Ordinary Shares include an accrual for a Performance Fee payable to the Manager in accordance with the Management Agreement.

ZERO DIVIDEND PREFERENCE SHARES (the "ZDP SHARES")

The Company announces that the net asset value of a ZDP Share as at the above date was 115.35 pence.

The above Net Asset Value has been calculated based on the number of shares in issue as at the above date, being 16,193,334 Ordinary Shares and 21,736,569 ZDP Shares.

Total assets less current liabilities as at the above date were £84.797 million. This amount excludes the liability for the ZDP Shares which mature on 31 January 2017. The portfolio has been valued using bid prices.

Net assets attributable to holders of Ordinary Shares as at the above date were £59.723 million.

TOTAL NUMBER OF VOTING RIGHTS

The ZDP Shares shall not have the right to attend or vote at any general meeting of

the Company unless the business of the meeting includes any resolution to vary, modify or abrogate any of the special rights attached to the ZDP Shares.  Accordingly, the total number of voting rights in the Company is 16,193,334.

For further information contact:

JTC Fund Managers (Guernsey) Limited

Secretary

Tel: [phone]

2 April 2014

E&OE - in transmission

END OF ANNOUNCEMENT

 

END

 

 

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