We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Newstar Rbc 3Xe | LSE:H3XE | London | Ordinary Share | GG00B1FBH925 | RED PREF SHS NPV (3X EUR) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMH3XS TIDMH3XU TIDMH3XE RNS Number : 9007L New Star RBC Hedge250 IDX (3X GBP) 19 January 2009 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) 19 January 2009 REDEMPTION FACILITY Redemption Day The Company's Articles of Association incorporate provisions to enable Shareholders, at the Directors' discretion, to redeem: * up to 50% of their Shares for cash as at the first business day in January, April, July or October in each year by giving not less than 90 days notice to the Company in advance of the Redemption Day; and * up to 100% of their Shares for cash as at the first business day in January or July in each year by giving not less than 120 days notice to the Company in advance of the Redemption Day. The Directors intend to make quarterly decisions on whether to operate the redemption facility and have decided to operate the facility in respect of the 1X Shares at 1 July 2009 (the "Redemption Day"). On 14 January 2009 the Company announced its intention to compulsorily redeem the 3X Shares at Net Asset Value per Share on 1 April 2009. Accordingly, the 3X Shares will not be eligible for the 1 July 2009 redemption. Redemption Price Redemptions will be effected at the most recent net asset value ("NAV") per Share of the relevant class prior to the Redemption Day (being the NAV per share as at 30 June 2009), less direct costs. No redemption fee is expected to be payable. Notice Period for redeeming up to 50% of a holding of Shares A Shareholder may request the redemption of up to 50% of their holding in a particular Share class by giving not less than 90 days' notice to the Company in advance of the Redemption Day, in the form of a redemption request submitted to the Company's Receiving Agent. To be valid, the redemption request and, where relevant, the appropriate share certificate, must be received by the Company's Receiving Agent no later than 5.00 p.m. (London time) on 2 April 2009. In the case of the Shares held in uncertificated form, the relevant USE instruction must be submitted no later than 5.00 p.m. on 2 April 2009. Notice Period for redeeming in excess of 50% of a holding of Shares A Shareholder may request the redemption of in excess of 50% of their holding in a particular Share class by giving not less than 120 days' notice to the Company in advance of the Redemption Day, in the form of a redemption request submitted to the Company's Receiving Agent. To be valid, the redemption request and, where relevant, the appropriate share certificate, must be received by the Company's Receiving Agent no later than 5.00 p.m. (London time) on 3 March 2009. In the case of the Shares held in uncertificated form, the relevant USE instruction must be submitted no later than 5.00 p.m. on 3 March 2009. Procedure Redemption requests and, where relevant, the appropriate share certificate must be submitted to the following address: Capita Registrars Limited The Registry 34 Beckenham Road Beckenham Kent BR3 4TH From UK: 0870 162 3100 From Overseas: + 44 208 639 2157 Relevant Member Account ID's in relation to redemption requests submitted through Crest are as follows: 1X US$ Redeemable Preference Shares - 1XUSDRED 1X Euro Redeemable Preference Shares - 1XEURRED 1X Sterling Redeemable Preference Shares - 1XSTERED Shareholders should note that the Directors are entitled to suspend the processing of redemptions at any time, including circumstances where a limit is placed on the Company in respect of the aggregate reductions that it may make under the swaps it has entered into with the Royal Bank of Canada (the "Swaps"), as more particularly described in the Securities Note published by the Company dated 19 October 2007 ("Securities Note"). Settlement Full redemption proceeds will normally be dispatched to Shareholders within 15 days after the publication of the RBC Hedge 250 Index level prevailing on the Redemption Day (which is expected to be on or about the 45th day after 30 June 2009). Where payments under the Swaps are delayed or withheld or the Company is unable to liquidate its other investments in an orderly manner, the Company may take longer to pay the redemption proceeds or scale back redemptions pro rata amongst redeeming Shareholders. UK Taxation Persons who are resident in the UK and dispose of a "material interest" in an offshore fund that constitutes a collective investment scheme (within the meaning of section 236 of the Financial Services and Markets Act 2000, as applied by section 57 of the Finance Act 2007) which has at any time been a "non-qualifying offshore fund" (i.e. one in respect of which certification as a "distributing fund" has not been obtained from HM Revenue & Customs) are subject to income tax rather than capital gains tax in respect of any gains arising on the disposal of such an interest. The Directors have been advised that section 57 of the Finance Act 2007 may have the effect that the Company should be regarded as an offshore fund and that any interest in the Company acquired on or after 19 July 2007 (being the day on which the Finance Act 2007 came into effect) would fall to be treated as a "material interest". Consequently, the Directors intend to seek certification of each Sterling Share class in the Company as having distributing fund status in respect of each accounting period with a view to ensuring that on a disposal of Sterling Shares (by way of redemption, transfer or otherwise) UK resident Shareholders are subject to capital gains tax rather than income tax. It cannot be guaranteed, however, that the conditions necessary to obtain distributing fund status will always be met. The United Kingdom Government in its Budget on 12 March 2008 confirmed proposals for a new framework for the taxation of investments in offshore funds to replace the present distributing funds regime which would operate by reference to whether a fund opts into a reporting regime ("reporting funds") or not ("non-reporting funds"). Under the proposals, investors in reporting funds would be subject to tax on the share of the reporting fund's income attributable to their holding in the fund, whether or not distributed, but any gains on disposal of their holding would be subject to capital gains tax. HM Revenue & Customs would be able to approve a fund (or a class of shares in a fund) in advance as a reporting fund. Investors in non-reporting funds would not be subject to tax on income retained by the non-reporting fund but any gains on disposal of their holding would be subject to tax as offshore income gains. Expected Timetable +-----------------------------------------+------------------------------+ | Latest date for receipt of redemption | 5.00 p.m. on 3 March 2009 | | request and submission of relevant USE | | | instruction or share certificate (as | | | appropriate) for shareholders redeeming | | | in excess of 50% of their holding in a | | | particular share class | | | | | +-----------------------------------------+------------------------------+ | Latest date for receipt of redemption | 5.00 p.m. on 2 April 2009 | | request and submission of relevant USE | | | instruction or share certificate (as | | | appropriate) for shareholders redeeming | | | up to 50% of their holding in a | | | particular share class | | | | | +-----------------------------------------+------------------------------+ | Redemption Day | 1 July 2009 | | | | +-----------------------------------------+------------------------------+ | Redemption proceeds dispatched | 1 September 2009 | | | | +-----------------------------------------+------------------------------+ Enquiries Alison Bilham, HSBC Securities Services (Guernsey) Limited Tel: + 44 (0)1481 707213 Notes The information in this announcement should be read in conjunction with the full text of the Securities Note. Capitalised terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Securities Note. This information is provided by RNS The company news service from the London Stock Exchange END MSCGUUUPGUPBGMB
1 Year Newstar Rbc 3Xe Chart |
1 Month Newstar Rbc 3Xe Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions