Conversion of Euro Shares (8046C)

TIDMCIF TIDMCIFU

RNS Number : 8046C

Carador Income Fund PLC

08 May 2012

Carador plc (the "Company")

Conversion between Classes

The table below summarises the aggregate conversion notices received in respect of the 30 March 2012 conversion calculation date:

 
                                      Total Shares to be converted 
 Euro Shares to U.S. Dollar Shares                         478,036 
 U.S. Dollar Shares to Euro Shares                             500 
 

30 March 2012 Conversion Ratio

On the basis of the Net Asset Values of the Company's Shares as at 30 March 2012 (as previously announced on 24 April 2012) (and using the spot currency exchange rate as at 30 March 2012), the conversion ratio, calculated in accordance with the Company's articles of association is as follows:

 
 1.017271169 U.S. Dollar Shares for every one Euro Share 
 

As announced on 19 April 2012, the directors have determined to compulsorily convert the outstanding 13,436,803 Euro Shares into U.S. Dollar Shares as of the NAV calculation date of 30 April 2012. As such, the board has exercised its discretion to reject the request for conversion of 500 U.S. Dollar Shares into Euro Shares. A further announcement regarding the conversion ratio, the date on which conversion will be completed and the number of new U.S. Dollar Shares to be issued in relation to the compulsory conversion is expected to be made in late May 2012.

On the basis of the aggregate level of voluntary conversion notices received by the Company, application will be made to the UK Listing Authority for 486,291 new U.S. Dollar Shares of no par value to be admitted to the Official List. Application will also be made for the U.S. Dollar Shares to be admitted to trading on the London Stock Exchange. It is expected that such admissions will be effective and that dealings in the new U.S. Dollar Shares will commence on or around 28 May 2012.

Enquiries:

 
 GSO Capital Partners International LLP    [phone] 
 Miguel Ramos-Fuentenebro 
 
 Singer Capital Markets Limited            [phone] 
 James Maxwell/Jenny Wyllie 
 
 Dexion Capital plc                        [phone] 
 Ravi Anand 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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