NSA Nimrod Sea Asst

TIDMNSA

RNS Number : 1297V

Nimrod Sea Assets Limited

13 April 2016

13 April 2016

NIMROD SEA ASSETS LIMITED (the "Company")

CORRECTION TO RETURN OF UNINVESTED CAPITAL ANNOUNCEMENT

This announcement replaces that released on 12 April 2016 at 17:00 under RNS Number 9863U.

The correction relates to the omission of the word "and" between "cost base" and "on" in the last paragraph.

All other details remain unchanged. The full corrected announcement is as follows:

NIMROD SEA ASSETS LIMITED (the "Company")

Return of Uninvested Capital

In accordance with the Prospectus of the Company issued on 12 March 2014, following admission of the Company's redeemable ordinary shares to trading on the Specialist Fund Market of the London Stock Exchange on 24 March 2014, the Company had an investment period of 18 to 24 months. Any cash which had not been invested or committed at the end of this investment period was to be returned to Shareholders as soon as practicable.

As previously advised under RNS number 4223T, the Board of directors of the Company (the "Board") anticipated being in a position to return the unrequired, uninvested cash to Shareholders after March 2016.

Following a meeting of the Board held earlier today, the Board has resolved to return to Shareholders 20 cents per Redeemable Ordinary Share (US$26 million in aggregate) by way of a bonus issue of 130 million B Shares to Shareholders on the Company's register on the record date of 22 April 2016. Each such Shareholder will be issued one B Share for every Redeemable Ordinary Share held by them. The Company's Redeemable Ordinary Shares will be marked ex-payment on 21 April 2016.

Following their issue the B Shares will be immediately redeemed by the Company at a redemption price of 20 cents per B Share. The redemptions will have a settlement date of 29 April 2016.

Conditions in the market remain extremely challenging and valuations are likely to have deteriorated since the last interim report and accounts published in November 2015. The Company is currently in the process of preparing accounts and valuations for the year to end March 2016

The Company continues to focus on the best ways to maximise value and to consider the best methods to achieve this from its existing assets and its cost base and on ensuring that it has the correct resources to do so.

We look forward to keeping Shareholders informed.

For further information, please contact:

For administrative and Company information:

JTC (Guernsey) Limited

+44 (0) 1481 702 400

For shareholder information:

Nimrod Capital LLP

Richard Bolchover

Marc Gordon

+44 (0) 20 7382 4565

END OF ANNOUNCEMENT

E&OE - in transmission

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 13, 2016 12:20 ET (16:20 GMT)

Grafico Azioni Nimrod Sea Asst (LSE:NSA)
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Grafico Azioni Nimrod Sea Asst (LSE:NSA)
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