Damille Investments II Limited Statement re Compulsory Redemption of Shares (9960I)

TIDMDIL2

RNS Number : 9960I

Damille Investments II Limited

05 September 2016

DAMILLE INVESTMENTS II LIMITED (LSE:DIL2) (the "Company")

5 September, 2016

COMPULSORY REDEMPTION OF SHARES

Further to the powers granted to the Board at the Company's extraordinary general meeting held on 5 September 2016, the Company advises that it will return to Shareholders by way of a compulsory partial redemption of Shares an amount of approximately GBP13.1 million, representing approximately 25 per cent. of the Company's issued share capital, (the "Redemption") at close of business on 8 September, 2016 (the "Redemption Date").

Shares will be redeemed as at the Redemption Date, by reference to the unaudited estimated Net Asset Value per Share as at 31 August, 2016 less a deduction of one per cent. to cover the costs of the Redemption (the "Redemption Price").

The Redemption will be effected pro rata to the holdings of Shares on the register at the close of business on the Redemption Date (which is the record date for the purposes of the Redemption), being 8 September, 2016. No fractions of Shares will be redeemed and the number of Shares to be redeemed for each Shareholder will be rounded down to the nearest whole number of Shares as appropriate.

All of the Shares redeemed on the Redemption Date will be cancelled.

All proceeds of the Redemption will be paid in pounds Sterling on or around 14 September, 2016.

All Shareholders will be sent their redemption proceeds by cheque posted to the registered address of the first named holder at each recipient's own risk.

As notified to Shareholders in the circular convening the recent EGM, Shareholders who wish to receive their redemption proceeds by electronic bank transfer must send a payment request to the Registrar, Anson Registrars Limited, PO Box 426, Anson House, Havilland Street, St Peter Port, Guernsey GY1 3WX. Such request should at a minimum specify the full bank account details of the account to which the redemption proceeds are to be paid and such bank account must be in the name of the registered holder(s). If a Shareholder does elect to request electronic bank transfer of their redemption proceeds, all bank payment charges will be for the account of the payee. The payment request must be sent to Anson Registrars Limited by close of business on 12 September 2016 in order to receive proceeds by electronic bank transfer.

The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00B7617Z91 (the "Old ISIN") will expire.

The new ISIN number GG00BZ97R277 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 9 September 2016. Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

Expected timetable:

 
  Record Date, Redemption    (close of business) 
   Date, expiry of old        8 September 2016 
   ISIN number. 
-------------------------  --------------------- 
  New ISIN enabled, Crest    9 September 2016 
   Accounts credited. 
-------------------------  --------------------- 
  Redemption monies paid     14 September 2016 
   (on or around) 
-------------------------  --------------------- 
 

For further information contact:

   Administrative Enquiries:                                    Shareholder Enquiries: 
   JTC (Guernsey) Limited                                      Nimrod Capital LLP 
   Tel: [phone]                                  Tel: [phone] 

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September 05, 2016 11:20 ET (15:20 GMT)