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FRM Diversified Alph (DIVA)

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Tuesday 29 March, 2011

FRM Diversified Alph

Redemption Announcement

RNS Number : 8448D
FRM Diversified Alpha Limited
29 March 2011
 



 

FRM DIVERSIFIED ALPHA LIMITED

(the "Company")

REDEMPTION ANNOUNCEMENT

29 MARCH 2011

Further to the announcement made by the Company on 28 February, 2011 in which the Company announced that it had resolved to pay out £3.75 million to Shareholders via a further compulsory redemption of Shares (the "3rd Distribution"), the Company now announces further details of the 3rd Distribution.

All of the Company's Shareholders as at the Record Date of 4 March, 2011 have completed and returned the Redemption Forms required to participate in the 3rd Distribution.

The Redemption Date for the purposes of the 3rd Distribution shall be 30 March, 2011.

 

The Net Asset Value Date for the calculation of the applicable number of shares to be redeemed was 28 February, 2011.  The Net Asset Value of the Company as at 28 February, 2011 was £10,515,447.05.  The Net Asset Value per Share as at 28 February, 2011 was 90.40 pence.

 

A total of 4,148,201 Shares will be redeemed, which represents 35.66 per cent. of the Company's issued share capital based on the Company's Net Asset Value as at 28 February, 2011.  Redemption proceeds will be paid in Sterling through CREST or sent by cheque (at the recipient's risk) no later than 29 April, 2011.

 

Following the redemption of Shares, Share certificates are expected to be despatched and transfer from escrow (TFE) instructions are expected to be issued no later than the close of business on 29 April, 2011 for the excess Shares which were placed into escrow by redeeming Shareholders in connection with the 3rd Distribution.

 

Unless otherwise defined, terms used in this announcement have the same or equivalent meaning as in the Circular relating to FRM Diversified Alpha Limited dated 2 June, 2009.

 

The Board of Directors reserves the right at its discretion to extend or bring forward any of the dates referred to in this announcement.  Any revised date will be notified to Shareholders by a further announcement through a Regulatory Information Service provider.

Enquiries:

Financial Risk Management Limited

Chris Brierley                                       020 7968 6136

J.P. Morgan Cazenove

William Simmonds                                020 7588 2828


This information is provided by RNS
The company news service from the London Stock Exchange
 
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