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FRM Diversified Alph (DIVA)

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Tuesday 17 August, 2010

FRM Diversified Alph

Second Distribution

RNS Number : 1823R
FRM Diversified Alpha Limited
17 August 2010
 



FRM DIVERSIFIED ALPHA LIMITED

(the "Company")

 

REDEMPTION ANNOUNCEMENT

 

17 AUGUST 2010

Further to the announcement made by the Company on 21 June 2010 in which the Company announced that it had resolved to pay out £9.25 million to Shareholders via a further compulsory redemption of Shares (the "2nd Distribution"), the Company now announces further details of the 2nd Distribution.

 

All of the Company's Shareholders as at the Record Date of 30 June 2010 completed and returned the Redemption Forms required to participate in the 2nd Distribution.

 

The Redemption Date for the purposes of the 2nd Distribution shall be 17 August 2010.

 

The Net Asset Value Date for the calculation of the applicable number of shares to be redeemed was 31 July 2010.  The Net Asset Value as at 31 July 2010 was £19,765,739.27. The Net Asset Value per Share as at 31 July 2010 was 90.4 pence.

 

A total of 10,232,273 Shares will be redeemed, which represents 46.8 per cent. of the Company's issued share capital based on the Company's Net Asset Value as at 31 July 2010.  Redemption proceeds will be paid in Sterling through CREST or sent by cheque (at the recipient's risk) no later than 20 August 2010.

 

Following the redemption of Shares, Share certificates are expected to be despatched and transfer from escrow (TFE) instructions are expected to be issued by the close of business on or before 20 August 2010 for the 3.2 per cent. excess Shares which were placed into escrow by redeeming Shareholders in connection with the 2nd 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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