Thames River Multi Hedge PCC Ltd THIRD Compulsory Redemption of Shares (6263L)

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RNS Number : 6263L

Thames River Multi Hedge PCC Ltd

13 August 2013

THAMES RIVER MULTI HEDGE PCC LIMITED

(the "Company")

(a closed-ended, umbrella investment, protected cell company incorporated with limited liability under the laws of Guernsey with registered number 41511)

THIRD Redemption of Shares

Further to the portfolio disclosures included in the circular dated 26 July 2013, the Company has entirely realised its investment in Investcorp Prosiris and has now received GBP3.06 million from this investment.

Accordingly, and further to the powers granted to the Board at the Company's extraordinary general meeting on 11 September 2012, the Company today announces that GBP10.275 million , representing approximately 77 per cent. of the Company's estimated net asset value (NAV) as at 2 August 2013, will be redeemed at close of business on 15 August 2013 (the "Redemption Date") by way of a compulsory partial redemption of Sterling Shares (the "Third Redemption").

In determining the quantum of the Third Redemption, the Board has taken into account a number of considerations including, inter alia, the Company's available cash, accumulated liabilities that are not yet settled, costs of the liquidation proposals and associated Liquidator's retention, and the estimated additional running costs of the Company to ensure the Company's solvency test requirements under the Companies Law will be satisfied. The Board has been advised by the Investment Manager that proceeds from Sector Expec have been delayed and are not expected to be received by the fund until the end of the year.

Sterling Shares will be redeemed as at the Redemption Date, by reference to the Net Asset Value per Sterling Share as at 2 August 2013 less any costs associated with the Third Redemption (the "Redemption Price").

The Third Redemption will be effected pro rata to the holdings of Sterling Shares on the register at the close of business on the Redemption Date (which is the record date for the purposes of the Third Redemption), being 15 August 2013.

The payment, which will be made to Shareholders on or around 20 August 2013, will represent GBP0.9927 pence per Sterling Share to be redeemed.

Fractions of Shares will not be redeemed and so the number of Sterling Shares to be redeemed for each Shareholder will be rounded down to the nearest whole number of Shares.

All of the Shares redeemed on the Redemption Date will be cancelled.

The Sterling Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00B9CLJZ17 (the "Old ISIN") will expire.

The new ISIN number GG00BD008D90 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 16 August 2013. Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

Expected timetable

Record Date, Redemption Date, expiry of old ISIN number. 15 August 2013 (close of business)

New ISIN enabled, Crest Accounts credited. 16 August 2013

   Redemption monies paid (on or around)           20 August 2013 

Queries to

Hugh Potter at Thames River Capital LLP: + 44 20 7011 5183

Stephen Rouxel at State Street (Guernsey) Limited: + 44 1481 704544

Will Rogers at Cenkos Securities Plc: + 44 207 397 1920

The Company is an authorised closed-ended investment scheme domiciled in Guernsey. As an existing closed-ended fund the Company is deemed to be granted an authorisation declaration in accordance with section 8 of the Protection of Investors (Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the Authorised Closed-ended Investment Schemes Rules 2008 on the same date as the Company obtained consent under the Control of Borrowing (Bailiwick of Guernsey) Ordinance 1959 to 1989.

This information is provided by RNS

The company news service from the London Stock Exchange

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