RNS Number : 0861F
11 June 2012
Notice of compulsory partial redemption of Participating Redeemable Preference Shares ("Shares")
In accordance with the Company's Articles of Incorporation, Brookwell Limited (the "Company") has today sent a notice to shareholders that it will return GBP0.6m to holders of D Shares on 29 June 2012 ("the redemption date") in a pro rata redemption of Shares. The redemption will be effected pro rata to holders of D Shares on the register at the close of business on the redemption date and the redemption price of the D Shares will be determined by reference to the respective Net Asset Value per D Share at the close of business on the day immediately preceding the redemption date less any costs attributable to the redemption.
The amount to be applied to the partial redemption of D Shares comprises the entirety of the cash balances received from disposals of investments attributed to the D Class Fund less funds used or required to settle liabilities attributable to the D Class Fund (including any purchases of D Shares in the market).
The Company issued 16,424,372 D Shares in a placing in the first quarter of 2011, of which 6,790,211 have been redeemed and cancelled in the previous pro rata redemptions at an aggregate cost of GBP5,499,974. No D Shares have been purchased in the market. Therefore as at the date of this letter, the Company has 9,634,161 Shares in issue. All of the D Shares redeemed will be cancelled.
The D Shares will be disabled in CREST on the redemption date and the existing ISIN number GG00B715RP62 will expire on the redemption date, with a new ISIN number GG00B7LGKP06 available for transactions on the next business day.
Copies of the notice sent to shareholders are available from the Company's website www.brookwelllimited.com
For further information please contact:
Tom Lancaster-King Tel: 01481 726 034
Progressive AIM Realisation Limited (Investment manager)
Robert Legget / Ross Courtier Tel: 020 7566 5550
Deloitte Corporate Finance (Nominated adviser)
Jonathan Hinton / James Lewis Tel: 020 7936 3000
Marshall Securities Limited (Broker)
John Webb Tel: 020 7490 3788
11 June 2012
This information is provided by RNS
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