Conversion of Securities

    RNS Number : 3501Y
  New Star RBC Hedge250 IDX (3X GBP)
  04 July 2008
   

    HEDGE ETS
    New Star RBC Hedge 250 Index Exchange Traded Securities
    PCC Limited
    (A closed-ended investment company incorporated in Guernsey with registered number 45501 under the provisions of The Companies
(Guernsey) Laws 1994 to 1996 and The Protected Cell Companies Ordinance 1997 to 1998, as amended)

    4 July 2008

    CONVERSION FACILITY

    New Star RBC Hedge 250 Index Exchange Traded Securities PCC Limited ("Hedge ETS") announces that it has received Conversion Requests and
effected Share Conversions as set out below.

 Class to be converted from  Class to be           Conversion ratio          Shares to be  Shares to be allotted
                             converted to                                        redeemed
 1x Euro Shares              1X Sterling Shares          0.77220534             1,400,000              1,081,087
 3X Euro Shares              3X Sterling Shares          0.76940154               650,000                500,111
 3X Sterling Shares          3X Euro Shares              1.29971147                42,200                 54,847

    The new Share capital as a result of the conversions is set out below.

                          Shares in issue (including treasury
                                                      shares)

                                                               Treasury shares
 1X US$ Shares                                    103,992,823       11,312,258
 1X Euro Shares                                    41,280,115        3,209,831
 1X Sterling Shares                                12,887,547        1,270,421
 3X US$ Shares                                     24,205,687        2,688,774
 3X Euro Shares                                     8,126,157          298,612
 3X Sterling Shares                                 7,881,773          600,451


    The Conversion Date was 30 June 2008.

    An application has been made for the new Shares allotted pursuant to the Share Conversions to be admitted to the Official List of the
FSA and to unconditional trading on the London Stock Exchange's market for listed securities at 8.00 a.m. on 11 July 2008.

    Expected Timetable

 Unconditional dealings commence                     8.00 a.m. on 11 July 2008
 Expected date that CREST accounts will be debited                11 July 2008
 / credited pursuant to Share Conversions
 Expected date that new Share certificates and any                11 July 2008
 balancing Share certificates will be despatched

    Capitalised words in this announcement bear the meanings given to them in the Company's articles of association.

    Enquiries

    Alison Bilham, HSBC Securities Services (Guernsey) Limited
    Tel: + 44 (0)1481 707213

    ENDS

This information is provided by RNS
The company news service from the London Stock Exchange
 
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