Alternative Liquidity Solutions Ltd Interim Management Statement (3318R)
16 November 2012 - 11:30PM
UK Regulatory
TIDMALSL
RNS Number : 3318R
Alternative Liquidity Solutions Ltd
16 November 2012
ALTERNATIVE LIQUIDITY SOLUTIONS LIMITED
16 November 2012
Interim Management Statement
For the period from 1 July 2012 to 15 November 2012
Introduction
This interim management statement covers the period from 1 July
2012 to 15 November 2012. It has been produced for the sole purpose
of providing information to the Company's Shareholders in
accordance with the requirements of Directive 2004/109/EC (the
Transparency Directive). It should not be relied upon for any other
purpose.
Material Events and Transactions during the Period
At the Annual General Meeting of the Company held in July,
shareholders overwhelmingly approved proposals to restructure the
Company to enable a return of capital to those who wanted it whilst
proposing a continuation class with a revised investment objective
for those who wished to remain invested. The proposals for the
continuation class were conditional upon the Company being able to
raise sufficient fresh equity capital to give the Company critical
mass but after an extensive marketing effort the Board concluded
that this condition was not going to be met. Accordingly, with
effect from 6 November 2012 all the Company's existing Ordinary
Shares were automatically converted into unlisted Run-Off Shares
and the Company has applied for the Company's Ordinary Shares to be
delisted from the Official List and their admission to trading on
the Main Market of the London Stock Exchange cancelled. It is
expected that delisting and cancellation will take effect on or
around 3 December 2012.
As previously announced, the return of cash to Run-Off
Shareholders will be effected through compulsory redemption of
Run-Off Shares on a pro rata basis and it is anticipated that the
first redemption of a proportion of the Run-Off Shares will occur
by 30 November 2012. A further announcement regarding this will be
made shortly.
Financial Position and Performance
The most recent estimated net asset per share of the Company as
at the close of business on 30 September 2012 was 46.33p per
Ordinary Share.
As at 15 November 2012 the Company had net cash of GBP10.2
million and uncalled capital commitments of GBP1.2 million.
Enquiries:
Jon Macintosh, Saltus Partners LLP
+44 20 7499 0200
This information is provided by RNS
The company news service from the London Stock Exchange
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