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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 : 2112Y
Close Enhanced Commodities Fund II
19 February 2013
FOR IMMEDIATE RELEASE
19 February 2013
CORRECTED Close Enhanced Commodities Fund II Limited (the "Company")
The Investment Objective and Performance Update as at 31 January 2013 released at 11.34 a.m. on 18 February 2013 has been revised below to include the Commodity average prices and the Current Final Capital Entitlement. The below announcement replaces the previous announcement entirely.
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 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.
* 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.
Based on the values of the commodities as at 31 January 2013, taking into account month end values of the commodities for the preceding month ends in the averaging period 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 148 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.
End value (averaged) as at Commodity Start Value 31 January 2013** Brent Crude Oil $68.04 $109.53 Aluminium $2,733.50 $1,964.38 Copper $7,440.50 $7,860.31 Nickel $50,900.00 $16,958.13 Zinc $3,685.50 $1,952.94 Corn 390.25c 747.56c Sugar 9.34c 20.11c Wheat 517.00c 833.31c Commodity Portfolio Calculation (averaged) 100.00% 124.11% Current Final Capital Entitlement per Share 148 Pence
** The Commodity constituent end values are based on an average of preceding month end prices for the underlying commodities during the calculation period.
The commodity Portfolio end value displayed above is based on an averaging of month end commodity portfolio values during the calculation period.
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 January 2013 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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