Information  X 
Enter a valid email address

Premier Pacific Inc (PPI)


Thursday 13 April, 2006

Premier Pacific Inc

Dividend, Nav, etc

Premier Pacific Income Fund PLC
13 April 2006


Premier Pacific Income Fund Plc

                                (the 'Company')

For immediate release
                    13 April 2006

The Board of Directors of the Company wish to announce the following:

 1. The net asset value at 31 March 2006 was 80.51 pence per share.
 2. The number of shares tendered for redemption was 4,156,521 being 24.46% of
    the outstanding shares at 31 March 2006.  As this is below the 25% maximum
    level prior to the Board exercising its discretion, all shares presented for
    redemption will be redeemed.   Payment of redemption proceeds, subject to
    completion of the necessary paperwork by redeeming shareholders, will be
    made on 13 April 2006.  The number of shares outstanding after the
    redemption is 12,833,729.
 3. A redemption charge of 2.5% will be levied on redeeming shareholders to cover
    the costs associated with realising the necessary cash payment to them and
    the repayment of part of the outstanding loan.
 4. Due to the redemption of shares a further repayment of the loan has been
    necessary.  The amount repaid is £1.5 million and this was done on 6 April
    2006 on the normal roll over day for the month.  Gearing at the month end
    was 47.5%, lower than a month ago due to the rise in net asset value.  After
    the repayment and payment of the redemption, gearing will be 48.4%.  The
    loan outstanding is now £5 million.
 5. The Board have resolved that a dividend of 0.725 pence per share will be paid
    to shareholders in respect of the quarter ending 31 March 2006.  The shares
    will go ex-dividend on 26 April 2006, have an Irish register date of 25
    April 2006 and a payment date of 22 May 2006.
 6. For the remainder of the year it is proposed that the following dates will
    apply for dividend payments:

Ex-dividend Date          Irish Register Date        Payment Date

26 July 2006                25 July 2006                21 August 2006

25 October 2006         24 October 2006         20 November 2006

RSM Robson Rhodes                                                           Lara

                +353 1 436 6400

Premier Fund Managers Limited                                          Richard

                +44 1721 724 837

This announcement has been issued through the Companies Announcement Service of
                            the Irish Stock Exchange

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

a d v e r t i s e m e n t