Absolute Return Trust Limited Capital Return (3049L)

TIDMABR

RNS Number : 3049L

Absolute Return Trust Limited

08 August 2013

Absolute Return Trust Limited (the "Company")

(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 42733)

Notice of Compulsory Partial Redemption of Shares

8 August 2013

Notice of compulsory partial redemption of shares in Absolute Return Trust Limited (the "Company").

Further to the approval by the Company's shareholders of the winding down proposals as described in the circular to shareholders on 15 August 2012 (the "Circular") the Company today announces that it will return 49.02 pence and 34.62 EUR cents per GBP and EUR share respectively on 23 August 2013 (the "Redemption Date") by way of a third compulsory partial redemption of shares (the "Redemption") by reference to the 30 June 2013 NAV Calculation Date.

On 21 December 2012, the Company executed an initial compulsory partial redemption of 74 per cent. of shares outstanding with reference to the 31 October 2012 NAV. On 24 May 2013, the Company executed a second compulsory partial redemption of 16 per cent. of shares outstanding with reference to the 31 October 2012 NAV. In conjunction with this initial and second capital return, the effect of the third partial redemption announced today will be that 93 per cent. of the Company's NAV as at 31 October 2012 will have been returned since the approval by the Company's shareholders of the winding down proposals at the Company's EGM on 7 September 2012

The Redemption will be effected pro rata to holdings of shares on the register at the close of business on the Redemption Record Date, being 16 August 2013 and 35 per cent. of the Company's issued share capital will be redeemed on the Redemption Date (that is 35 Shares for every 100 shares held respectively (the "Relevant Percentage")). Fractions of Shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.

The amount to be applied to the partial redemption of shares comprises the monies from the realisation of the Company's investments received up to and including 31 July 2013 pursuant to the winding down of the Company, less the cash required to settle any liabilities (including the estimated ongoing day to day running costs of the Company, and the costs and expenses of this partial redemption). The costs and expenses of this partial redemption are estimated not to exceed GBP5,000, equivalent to approximately 0.1p per share being redeemed.

As at today's date, the Company has 15,607,837 GBP shares and 958,769 EUR shares in issue of which none are held in treasury. All of the shares redeemed on the Redemption Date will be cancelled. A further announcement will be released following the Redemption Record Date to confirm the new number of shares in issue for each share class.

The shares will be disabled in CREST on the Redemption Date and the existing ISINs numbers GG00B9NMW217 and GG00B9GQ2X10 (the "Old ISINs") for the Company's shares will expire on the Redemption Date (23 August 2013). The new ISIN numbers GG00BCCW5806 (GBP shares) and GG00BCCW5C45 (EUR shares) (the "New ISIN") in respect of the Company's shares (post the Redemption) will be enabled from and including 23 August 2013. Up to the Redemption Date (but not including the 23 August 2013), Shares will be traded under the Old ISIN. The Redemption will be effected pro rata to holdings of shares on the register at the close of business on the Redemption Record Date, being 16 August 2013. Purchases of shares that were unsettled as at the close of business on the Record Date, including trades arranged after the Record Date but before the Redemption Date, will be transformed automatically by CREST and will settle under the New ISINs with an accompanying delivery of cash though CREST in respect of the redemption proceeds.

Payments of redemption monies are expected to be effected either through CREST (in the case of shares held in un-certificated form) or by cheque (in the case of shares held in certificated form) by 23 August 2013.

All Enquiries:

Andrew Maiden

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel: +44 (0) 1481 745368

This information is provided by RNS

The company news service from the London Stock Exchange

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