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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Close Enh Ii | LSE:CED2 | London | Ordinary Share | GG00B1WT2P00 | ORD NPV DESIGNATED AS PART SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 141.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCED2
RNS Number : 3546M
Close Enhanced Commodities Fund II
14 September 2012
FOR IMMEDIATE RELEASE
14 September 2012
Close Enhanced Commodities Fund II Limited (the "Company")
CORRECTED Investment Objective and Performance Update announcement
The announcement of the Investment Objective and Performance Update of the Company at 31 August 2012 released at 5.56 p.m. on 10 September 2012 under RNS number 9370L contained erroneous data with regards to the value of the constituents of the Commodity Portfolio at the above date. The below announcement contains a corrected value of the constituents of the Commodity Portfolio and replaces the previous announcement in its entirety.
The investment objective of the Company is to provide to shareholders, on the Redemption Date in June 2013, a capital amount of 100 pence per Share and a growth amount equal to two times any percentage increase in the End Value* of the Commodity Portfolio relative to its Start Value. There are currently 45,250,000 Shares in issue.
* The End Value will be the aggregate of the average official closing price of each constituent of the Commodity Portfolio on the last business day of each month in the one year prior to the End Date of 31 May 2013.
The Commodity Portfolio is a notional portfolio of commodities comprising by value on the Start Date, being 31 May 2007, one-eighth of each of oil, copper, aluminium, zinc, nickel, sugar, corn and wheat.
Based on the values of the commodities as at 31 August 2012, and assuming these values were to remain unchanged through to the end of the life of the Company, the redemption proceeds per Share on the Redemption Date would be 140.50 pence . This is not a forecast nor is it a reflection of the net asset value per Share and takes no account of any unforeseen circumstances and is provided for informational purposes only and should not be relied upon for investment decisions.
**as at 31 August Commodity Start Value 2012 Brent Crude Oil $68.04 $104.79 Aluminium $2,733.50 $1,879.88 Copper $7,440.50 $7,569.80 Nickel $50,900.00 $16,181.30 Zinc $3,685.50 $1,849.40 Corn 390.25c 709.25c Sugar 9.34c 20.91c Wheat 517.00c 785.50c Commodity Portfolio = 100.00% 120.50%
**Aggregate of the average official closing price of each constituent of the Commodity Portfolio on the last business day of each month from 31 May 2012 to 31 August 2012
Payoff Profile
The table below illustrates how the final capital entitlement of the Shares might vary for different End Values of the Commodity Portfolio.
Percentage change in Redemption End Value of the Commodity Proceeds Portfolio relative to its Start Value ---------------------------- ----------- -100% 100 ---------------------------- ----------- -50% 100 ---------------------------- ----------- 0% 100 ---------------------------- ----------- 50% 200 ---------------------------- ----------- 100% 300 ---------------------------- ----------- 150% 400 ---------------------------- ----------- 200% 500 ---------------------------- -----------
The final return is subject to there being no counterparty default or any other unforeseen circumstances.
As at 31 August 2012 the investments held by the Company were:
NOMINAL DEBT SECURITIES PORTFOLIO HOLDINGS GBP Caisse Centrale du Credit Immobilier de France EMTN 14 June 2013 9,050,000 Erste Bank EMTN 14 June 2013 9,050,000 Irish Life & Permanent Plc EMTN 14 June 2013 9,050,000 Mediobanca SpA EMTN 14 June 2013 9,050,000 SNS Bank NV EMTN 14 June 2013 9,050,000 TOTAL GBP 45,250,000
This data has been provided by Close Investments Limited. Close Investments Limited may source data from third party data providers such as, but not limited to, Bloomberg. Close Investments Limited accepts no responsibility or liability for the accuracy of data sourced from such third parties. All data in this document has been procured and may have been acted upon by Close Investments Limited for its own purpose. The results are being made available to you for information purposes only and incidentally. This data is provided purely for information purposes only and should not be relied upon.
For further information contact:
Anson Fund Managers Limited
Secretary
Tel: 01481 722260
E&OE - in transmission
This information is provided by RNS
The company news service from the London Stock Exchange
END
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