Queen's Walk Investment Limited
08 October 2007
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Queen's Walk Investment Limited
Result of Extraordinary General Meeting
Queen's Walk Investment Limited (the 'Company') announces that at the
extraordinary general meeting of the Company held earlier today, the
Shareholders of the Company approved the special resolution authorising the
Tender Offer as defined in the Company's Circular to shareholders dated 13
September 2007 (the 'Tender Offer Circular'). Definitions used in the Tender
Offer Circular also apply in this announcement.
The special resolution approving the Tender Offer was passed on a show of hands
by those present at the meeting. Had a poll been held, the result would have
been:
For: 20,771,170
Against: 1,681,588
The total number of Ordinary Shares voted was 22,452,758, representing 56.66 per
cent. of the share capital of the Company in issue as at the time of the
meeting.
Accordingly, the Tender Offer has become unconditional and the Company will
repurchase 4,504,500 Ordinary Shares under the Tender Offer. The Company expects
to dispatch cheques and credit CREST accounts with Tender Offer proceeds by 15
October 2007. The company also expects that unsold Ordinary Shares will be
released by the Escrow Agent (for uncertificated holders) or their share
certificates will be returned (for certificated holders) by 15 October 2007.
Commenting on the Tender Offer, Tom Chandos, Chairman, said: 'The tender offer
has enabled approximately €25 million to be returned to Shareholders in an
effective way and the result is also accretive to continuing Shareholders'.
For further information please contact:
Investor Relations:
Caroline Villiers +44 (0) 20 7153 1521
About the Company:
Queen's Walk Investment Limited is a Guernsey-incorporated investment company
listed on the London Stock Exchange. The Company's investment objective is to
preserve capital and to provide stable returns to shareholders in the form of
quarterly dividends. To achieve this, Queen's Walk invests primarily in a
diversified portfolio of subordinated tranches of asset backed securities,
including the unrated 'equity' or 'first loss' residual income position
typically retained by the banks or other financial institutions which have
originated the loan assets that collateralise a securitisation transaction. The
Company makes such investments where its investment manager, Cheyne Capital
Management Limited, considers the coupon or cash flows from the investment to be
attractive relative to the credit exposure of the underlying asset collateral.
The Company believes that its investment focus provides equity investors with
exposure to a relatively new investment opportunity in this asset class.
This information is provided by RNS
The company news service from the London Stock Exchange NABDDAKK
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.