Alternative Liquidity Solutions Ltd Interim Management Statement (3318R)

TIDMALSL

RNS Number : 3318R

Alternative Liquidity Solutions Ltd

16 November 2012

ALTERNATIVE LIQUIDITY SOLUTIONS LIMITED

16 November 2012

Interim Management Statement

For the period from 1 July 2012 to 15 November 2012

Introduction

This interim management statement covers the period from 1 July 2012 to 15 November 2012. It has been produced for the sole purpose of providing information to the Company's Shareholders in accordance with the requirements of Directive 2004/109/EC (the Transparency Directive). It should not be relied upon for any other purpose.

Material Events and Transactions during the Period

At the Annual General Meeting of the Company held in July, shareholders overwhelmingly approved proposals to restructure the Company to enable a return of capital to those who wanted it whilst proposing a continuation class with a revised investment objective for those who wished to remain invested. The proposals for the continuation class were conditional upon the Company being able to raise sufficient fresh equity capital to give the Company critical mass but after an extensive marketing effort the Board concluded that this condition was not going to be met. Accordingly, with effect from 6 November 2012 all the Company's existing Ordinary Shares were automatically converted into unlisted Run-Off Shares and the Company has applied for the Company's Ordinary Shares to be delisted from the Official List and their admission to trading on the Main Market of the London Stock Exchange cancelled. It is expected that delisting and cancellation will take effect on or around 3 December 2012.

As previously announced, the return of cash to Run-Off Shareholders will be effected through compulsory redemption of Run-Off Shares on a pro rata basis and it is anticipated that the first redemption of a proportion of the Run-Off Shares will occur by 30 November 2012. A further announcement regarding this will be made shortly.

Financial Position and Performance

The most recent estimated net asset per share of the Company as at the close of business on 30 September 2012 was 46.33p per Ordinary Share.

As at 15 November 2012 the Company had net cash of GBP10.2 million and uncalled capital commitments of GBP1.2 million.

Enquiries:

Jon Macintosh, Saltus Partners LLP

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

IMSBBBDBXSBBGDL