DEXION ABSOLUTE LTD - Shareholder Update

Dexion Absolute Limited (in Voluntary Liquidation) (the “Company”)

Shareholder Update

At an extraordinary general meeting of the Company held on 23 March 2016, shareholders passed resolutions to wind-up the Company and appointed Ashley Paxton and Linda Johnson of KPMG Channel Islands Limited as joint liquidators (the “Liquidators”).

Further to the Liquidators’ shareholder announcement of 22 July 2016, the Liquidators announce the following update to shareholders with respect to the Company’s investment in Aurora Offshore Fund II Limited (“AOFL II”).

On 16 August 2016, the Liquidators received US$83,758,569.41 (the “Funds”) representing 71.83% of the reported net asset value (as at June 30 2016) of the Company’s investment in AOFL II.

As shareholders will be aware, the Company operates a single Sterling denominated share class. Upon receipt of the Funds the Liquidators converted the Funds from US Dollars into Sterling for settlement on 17 August 2016 at a rate of US$1.3005 / GBP£1.00. Accordingly, the Joint Liquidators received GBP£64,404,897.66.

The liquidators anticipate making a distribution of the Funds (the “First Interim Distribution”) to shareholders of the Company during the week commencing 22 August 2016.

A further announcement will be made by the Liquidators as soon as the rate per share and distribution date of the First Interim Distribution has been agreed.

Following the First Interim Distribution, the Liquidators will assess the future distribution schedule for AOFL II before making further distributions to shareholders to ensure that the costs of making distributions are minimised.

Enquiries

The Liquidators

Linda Johnson and Ashley Paxton

Glategny Court

Glategny Esplanade

St Peter Port

Guernsey

GY1 1WR

Tel:  [phone]

[e-mail]

Copyright t 17 PR Newswire