Phaunos Timber Fund Limited Further re Compulsory Redemption of Ordinary Shs. (4784B)

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RNS Number : 4784B

Phaunos Timber Fund Limited

10 January 2018

Phaunos Timber Fund Limited

10 January 2018

(the "Company")

Further re Compulsory Redemption of Ordinary Shares

Further to the announcement made on 9 January 2018, the Company is pleased to provide further information in respect of its compulsory redemption of Ordinary Shares (the "Redemption").

After dealing with fractional entitlements following close of business on the record date of 9 January 2018, 47,169,715 Ordinary Shares were redeemed at a price of US$0.53 per share, representing 8.647% of the Ordinary Shares in issue prior to the Redemption.

Following completion of the Redemption, 498,360,117 Ordinary Shares will remain in issue and will trade under a new ISIN - GG00BFX4LT97 (the "New ISIN"), which has been enabled and available for transactions on 10 January 2018. CREST will automatically transfer any open transactions to the New ISIN.

The above figure of 498,360,117 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Phaunos Timber Fund Limited (Chairman)

Richard Boléat

[phone]

Vistra Guernsey (Company Secretary)

Chris Bougourd

[phone]

Valerie Goodwin

[phone]

Winterflood Investment Trusts (Corporate Broker)

Neil Morgan

[phone]

Notes to Editors

Established in 2006, Phaunos Timber Fund Limited ("PTF" or "the Company") invests in a concentrated, but diversified portfolio of timberland and timber-related investments. It was announced on 19 June 2017 that the Company's continuation resolution had not been passed. The Board is now conducting an orderly realisation of the assets of the Company.

PTF is a Guernsey-domiciled authorised closed-ended investment scheme, authorised by the Guernsey Financial Services Commission under section 8 of The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) and the Authorised Closed-ended Investment Schemes Rules 2008 made thereunder. The Company's ordinary shares are traded on the Main Market of the London Stock Exchange. www.phaunostimber.com

   The Company's ticker is PTF.   www.phaunostimber.com 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 10, 2018 05:05 ET (10:05 GMT)