Alternative Liquidity Solutions Ltd Outcome of elections for Run-Off Shares (3083P)

TIDMALSL

RNS Number : 3083P

Alternative Liquidity Solutions Ltd

23 October 2012

 
                           23 October 2012 
   For Immediate Release 
 
 

Alternative Liquidity Solutions Limited

Outcome of elections for Run-Off Shares

The Board of Alternative Liquidity Solutions Limited ("the "Company") announces that valid elections have been received from Shareholders in respect of 17,110,566 Ordinary Shares in the Company (representing 47.8 per cent of the current issued share capital) to have their shares redesignated as Run-Off Shares.

Accordingly the Board has redesignated 17,110,566 Ordinary Shares as Run-Off Shares following which the Company has in issue 18,702,316 Ordinary Shares and 17,110,566 Run-Off Shares.

Following the Share Redesignations the investment objective and policy of the Company in relation to the Run-Off Shares Pool will be to realise the Run-Off Shares Pool's existing investments in an orderly and timely manner, with a view to distributing cash to Run-Off Shareholders pro rata to their holdings of Run-Off Shares at appropriate times as sufficient investments are realised. The Company will not make any new investments in the Run-Off Shares Pool other than to meet pre-existing commitments or in cash or cash equivalents pending distribution of cash to Run-Off Shareholders. The Company may, however, make follow-on investments which it believes are necessary to protect the value of existing investments.

The return of cash to Run-Off Shareholders through the wind-down process will be effected through a series of compulsory redemptions of Run-Off Shares on a pro rata basis. All Run-Off Shareholders will be treated equally under the compulsory redemptions.

It is anticipated that the first redemption of Run-Off Shares will be made by 30 November 2012.

Details of the Run-Off Shares, which will not be listed, are as follows:

   ISIN:                GG00B7C4YN91 
   SEDOL:            B7C4YN9 

Enquiries:

 
 Saltus Partners LLP          020 7499 0200 
 Ben Money-Coutts 
 Jon Macintosh 
 Canaccord Genuity Limited    020 7523 8000 
 Will Barnett 
 Neil Brierley 
 Dominic Waters 
 David Yovichic 
 FTI Consulting               020 7269 7141 
 Harry Stein 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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