Conversion Notice

 

TIDMDASL 
 
RNS Number : 4806T 
Dexion Alpha Strategies Limited 
05 June 2009 
 

Dexion Alpha Strategies Limited 
 
 
Conversion Notice 
 
 
The Company's Articles of Association incorporate provisions 
enabling 
Shareholders of any one class of Ordinary Shares to convert all or 
part of 
 their holding into Ordinary Shares of any other class as at the NAV 
 
 Calculation Date referable to the months of March, June, September and 
 
 December in each year (each a "Conversion Calculation 
 Date"). 
 
 
Such conversion will be on the basis of the ratio of the NAV of the class of 
 
 Ordinary Shares to be converted from (less the costs of effecting such 
 
 conversion), to the NAV of the class of Ordinary Shares to be converted to 
 
 (each as at the relevant NAV Calculation Date) and otherwise as set out in 
 
 the Articles. 
 
 
Shareholders may convert Ordinary Shares of any class into Ordinary Shares 
 
 of any other class by giving not less than 5 business days notice to the 
 
 Company in advance of the relevant Conversion Calculation Date. 
 
 
In the case of Ordinary Shares held in uncertificated form, the relevant USE 
 
 instruction(s) must be submitted to Capita Registrars at least 5 business 
 
 days before the relevant Conversion Calculation Date using the CREST 
 
 information provided below: 
 
 
CREST PARTICIPANT ID - RA10 
 
 
MEMBER ACCOUNT CODE: 
 
 
+---------------------------------+---+--------------------------------------+ 
| STERLING TO EURO                | - | GBP2EUR                              | 
|                                 |   |                                      | 
+---------------------------------+---+--------------------------------------+ 
| STERLING TO US DOLLAR           | - | GBP2USD                              | 
|                                 |   |                                      | 
+---------------------------------+---+--------------------------------------+ 
| EURO TO STERLING                | - | EUR2GBP                              | 
|                                 |   |                                      | 
+---------------------------------+---+--------------------------------------+ 
| EURO TO US DOLLAR               | - | EUR2USD                              | 
|                                 |   |                                      | 
+---------------------------------+---+--------------------------------------+ 
| US DOLLAR TO STERLING           | - | USD2GBP                              | 
|                                 |   |                                      | 
+---------------------------------+---+--------------------------------------+ 
| US DOLLAR TO EURO               | - | USD2EUR                              | 
|                                 |   |                                      | 
+---------------------------------+---+--------------------------------------+ 
 
 
 
In the case of Ordinary Shares held in certificated form, a Conversion Notice 
 
 must be requested from the Company's Transfer Agent at the following 
address: 
 
 
Capita Registrars Limited 
The Registry 
34 Beckenham Road 
Beckenham 
Kent BR3 4TU 
Telephone: 
From UK: 0871 664 0300 
From Overseas: [phone] 
 
 
To be valid the Conversion Notice and the appropriate Share certificate 
 
 must be received at the above address at least 5 business days before the 
 
 relevant Conversion Calculation Date. 
 
 
In addition Shareholders should note, however, that fractions of Ordinary Shares 
arising on conversions will be rounded down and that the costs of conversion may 
be disproportionate to the value of the Ordinary Shares converted.  Hence the 
aggregate Net Asset Value of those Ordinary Shares held after conversion may be 
less than before such conversion.  Shareholders should also note that if they 
elect to convert Ordinary Shares they will be unable to deal in those Ordinary 
Shares in the period between giving notice of conversion and the actual date of 
conversion. Such notice once given shall be irrevocable without the consent of 
the Directors. 
 
 
At the Class Meetings held on 24 April 2009 the continuation resolutions of the 
GBP Shares and EUR Shares were not passed. The Board is currently considering 
options for the Company's future and expects to post a circular to Shareholders 
before the end of June. However, in the event that redemption offers are made 
for some of all classes of Shares, whether pursuant to the Articles or as part 
of any reorganisation proposals which the Board may propose, the timing of any 
redemption offers may be such that they close for acceptance before conversions 
of Shares have become effective. In such event a Shareholder who has elected to 
convert Shares may be unable to access existing Shares to accept a redemption 
offer for those existing Shares and may not be registered as the holder of the 
new Shares arising on conversion in time to accept a redemption offer for those 
new Shares. Furthermore, where any reorganisation proposals are put forward for 
approval by Shareholders, those Shareholders holding their Shares in 
uncertificated form (that is in CREST) and who elect convert to their Shares may 
find that those Shares are then held in escrow and are incapable of being voted 
for or against such proposals. 
 
 
This notice is for information only. Any Shareholder who is in any doubt whether 
or not to convert is recommended to contact an independent financial adviser. 
 
 
Expected timetable 
 
 
+------------------------------------------------+--------------------------+ 
| Latest date for submission of relevant USE     |             23 June 2009 | 
| instruction(s) or receipt of Conversion Notice |                          | 
| and Share certificate (as appropriate)         |                          | 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
| Conversion Calculation Date                    |             30 June 2009 | 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
| Conversion Date                                |           10 August 2009 | 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
 
 
Enquiries: 
 
 
+------------------------------------------------+--------------------------+ 
| Chris Copperwaite                              |  Tel: [phone] | 
| Dexion Capital (Guernsey) Limited              |                          | 
|                                                |                          | 
+------------------------------------------------+--------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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