Proposed Tender Offer (3458Y)
29 Febbraio 2012 - 8:02AM
UK Regulatory
TIDMARCH
RNS Number : 3458Y
ARC Capital Holdings Limited
29 February 2012
29 February 2012
ARC Capital Holdings Limited
Proposed Tender Offer
ARC Capital Holdings Limited ("ARCH" or the "Company") (AIM:
ARCH), the closed-end investment company admitted to trading on
AIM, announces that immediately following the release of its
audited financial statements for the year ending 31 December 2011,
it proposes to commence a tender offer (the "Tender Offer") to
purchase up to 6.5 per cent. of the Company's ordinary shares at a
price equal to the Company's audited Net Asset Value per share as
at 31 December 2011 (the "Tender Price").
As of 31 January 2012, the Company's investment policy was
changed permanently so that no new investments will be made and the
net proceeds from the realisation of all Company assets, including
cash, will be returned to shareholders, after which the Company
will be wound up. After accounting for the Company's estimated
working capital needs for 2012, the Board will begin this process
by distributing approximately US$25 million of the Company's
current USD cash balance to shareholders by way of a tender
offer.
Accordingly, the Company proposes to use its wholly-owned
subsidiary, ARCH Share Trading Limited, to implement the Tender
Offer. Each shareholder will be given the opportunity to tender up
to 6.5 per cent. of its ordinary shares at the Tender Price. The
Company intends that ordinary shares that are tendered and accepted
will be cancelled in due course.
The Company will announce further details of the Tender Offer,
including the record date, and distribute a circular to
shareholders containing the formal terms of the Tender Offer,
immediately following the release of the Company's audited
financial statements for the year ending 31 December 2011
(currently anticipated at the end of March 2012). A copy of the
circular and the tender form also will be made available on the
Company's website www.arch-fund.com at that time.
For more information, please contact:
MANAGER: NOMINATED ADVISER:
Allan Liu, Managing Partner Philip Secrett
ARC Capital Partners Limited Grant Thornton Corporate
T: (852) 2918 0088 Finance
F: (852) 2918 0881 T: (44) 20 7383 5100
aliu@arccapitalchina.com Philip.J.Secrett@uk.gt.com
------------------------------ ----------------------------
BROKER: MEDIA RELATIONS:
Hiroshi Funaki Stephanie Barry
LCF Edmond de Rothschild T: (852) 3719 3375
Securities pr@arccapitalchina.com
T: (44) 20 7845 5960
F: (44) 20 7845 5961 INVESTOR RELATIONS:
funds@lcfr.co.uk Chong Min Yi
T: (852) 3719 3319
Numis Securities Limited cyi@arccapitalchina.com
David Benda / Hugh Jonathan
T: (44) 20 7260 1000
F: (44) 20 7260 1001
d.benda@numiscorp.com
------------------------------ ----------------------------
About ARC Capital Holdings Limited
ARC Capital Holdings Limited ("ARCH") (AIM: ARCH) is a
closed-end investment company with net assets of US$392.0 million
as at 31 December 2011. ARCH was admitted to trading on the AIM
Market of the London Stock Exchange in June 2006. ARCH holds
investments in the retail, consumer goods and consumer services
sectors, principally in China.
For more information about ARC Capital Holdings Limited, please
visit: www.arch-fund.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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