Alternative Invest. Strategies Ld Redemption and Total Voting Rights (0917A)

TIDMAIS

RNS Number : 0917A

Alternative Invest. Strategies Ld

14 February 2014

Alternative Investment Strategies Limited (the "Company")

Compulsory Redemption, Total Voting Rights, Directors Holdings, Removal of Currency Hedging and Liquidation

14 February 2014

Compulsory Redemption

On 3 February 2014, the Company announced that it would return approximately GBP24.38 million(equivalent to 97.0088p per Share) to holders of Shares on 13 February 2014 by way of a compulsory partial redemption of Shares. Further to that announcement, the redemption of 17,089,501 Shares was effected at close of business on 13 February 2014, at a Redemption price of 142.66p per Share (being the Net Asset Value per Share on 31 December 2014). The Redemption was effected pro rata to holdings of Shares on the register as at close of business on 13 February 2014. The number of Shares redeemed represents 68 per cent. of the Company's issued share capital (that is 68 Shares for every 100 Shares held), with fractions of Shares not redeemed.

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, as at today's date, the total number of Shares now in issue is 8,042,307 of which none are held in treasury.

Accordingly, the total number of voting rights in the Company is now 8,042,307 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

Directors Holdings

As a result of this compulsory partial redemption of shares, the Directors now hold the following number of ordinary shares:

 
 Director            Number of Shares 
------------------  ----------------- 
 Nicholas Wilson     376 
------------------  ----------------- 
 Duncan Baxter       1900 
------------------  ----------------- 
 Alan Djanogly       913 
------------------  ----------------- 
 John Walley         23142 
------------------  ----------------- 
 Richard Hotchkis    4701 
------------------  ----------------- 
 Sean Molony         3574 
------------------  -----------------

Removal of Currency Hedging

In accordance with the proposals for the Managed Wind-down detailed in the circular to shareholders dated 15 May 2013 (the "Circular"), the currency hedging programme which had been maintained throughout the Managed Wind-down has now been terminated with immediate effect. The Company's remaining underlying investments are denominated in US dollars so that, going forward, shareholders will be exposed not only to the investment performance of the Company's underlying portfolio holdings but also to fluctuations in the US dollar/Sterling exchange rate. However, the Investment Manager will continue to hold cash in Sterling and be converting cash received by the Company as part of the Managed Wind-down into Sterling.

Liquidation

Further to the Circular, the Board expects that the Company will be put into liquidation in May 2014, with a circular being despatched to shareholders in due course in order to convene the necessary general meeting to implement the liquidation. It is anticipated that a further distribution will be made to shareholders in May 2014 in the form of a first liquidation distribution shortly after the Company has been placed in liquidation.

Enquiries

International Asset Management Limited

Sean Molony

Tel: +44 (0) 20 7734 8488

Canaccord Genuity Limited

Andrew Zychowski / Lucy Lewis

Tel: +44 (0) 20 7523 8000

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLIFIDFEISLIS

Grafico Azioni Alternative Invest. Strategies (LSE:AIS)
Storico
Da Mag 2024 a Giu 2024