Conversion Notice
06 June 2009 - 1:45AM
UK Regulatory
TIDMDASL
RNS Number : 4806T
Dexion Alpha Strategies Limited
05 June 2009
Dexion Alpha Strategies Limited
Conversion Notice
The Company's Articles of Association incorporate provisions
enabling
Shareholders of any one class of Ordinary Shares to convert all or
part of
their holding into Ordinary Shares of any other class as at the NAV
Calculation Date referable to the months of March, June, September and
December in each year (each a "Conversion Calculation
Date").
Such conversion will be on the basis of the ratio of the NAV of the class of
Ordinary Shares to be converted from (less the costs of effecting such
conversion), to the NAV of the class of Ordinary Shares to be converted to
(each as at the relevant NAV Calculation Date) and otherwise as set out in
the Articles.
Shareholders may convert Ordinary Shares of any class into Ordinary Shares
of any other class by giving not less than 5 business days notice to the
Company in advance of the relevant Conversion Calculation Date.
In the case of Ordinary Shares held in uncertificated form, the relevant USE
instruction(s) must be submitted to Capita Registrars at least 5 business
days before the relevant Conversion Calculation Date using the CREST
information provided below:
CREST PARTICIPANT ID - RA10
MEMBER ACCOUNT CODE:
+---------------------------------+---+--------------------------------------+
| STERLING TO EURO | - | GBP2EUR |
| | | |
+---------------------------------+---+--------------------------------------+
| STERLING TO US DOLLAR | - | GBP2USD |
| | | |
+---------------------------------+---+--------------------------------------+
| EURO TO STERLING | - | EUR2GBP |
| | | |
+---------------------------------+---+--------------------------------------+
| EURO TO US DOLLAR | - | EUR2USD |
| | | |
+---------------------------------+---+--------------------------------------+
| US DOLLAR TO STERLING | - | USD2GBP |
| | | |
+---------------------------------+---+--------------------------------------+
| US DOLLAR TO EURO | - | USD2EUR |
| | | |
+---------------------------------+---+--------------------------------------+
In the case of Ordinary Shares held in certificated form, a Conversion Notice
must be requested from the Company's Transfer Agent at the following
address:
Capita Registrars Limited
The Registry
34 Beckenham Road
Beckenham
Kent BR3 4TU
Telephone:
From UK: 0871 664 0300
From Overseas: +44 208 639 3399
To be valid the Conversion Notice and the appropriate Share certificate
must be received at the above address at least 5 business days before the
relevant Conversion Calculation Date.
In addition Shareholders should note, however, that fractions of Ordinary Shares
arising on conversions will be rounded down and that the costs of conversion may
be disproportionate to the value of the Ordinary Shares converted. Hence the
aggregate Net Asset Value of those Ordinary Shares held after conversion may be
less than before such conversion. Shareholders should also note that if they
elect to convert Ordinary Shares they will be unable to deal in those Ordinary
Shares in the period between giving notice of conversion and the actual date of
conversion. Such notice once given shall be irrevocable without the consent of
the Directors.
At the Class Meetings held on 24 April 2009 the continuation resolutions of the
GBP Shares and EUR Shares were not passed. The Board is currently considering
options for the Company's future and expects to post a circular to Shareholders
before the end of June. However, in the event that redemption offers are made
for some of all classes of Shares, whether pursuant to the Articles or as part
of any reorganisation proposals which the Board may propose, the timing of any
redemption offers may be such that they close for acceptance before conversions
of Shares have become effective. In such event a Shareholder who has elected to
convert Shares may be unable to access existing Shares to accept a redemption
offer for those existing Shares and may not be registered as the holder of the
new Shares arising on conversion in time to accept a redemption offer for those
new Shares. Furthermore, where any reorganisation proposals are put forward for
approval by Shareholders, those Shareholders holding their Shares in
uncertificated form (that is in CREST) and who elect convert to their Shares may
find that those Shares are then held in escrow and are incapable of being voted
for or against such proposals.
This notice is for information only. Any Shareholder who is in any doubt whether
or not to convert is recommended to contact an independent financial adviser.
Expected timetable
+------------------------------------------------+--------------------------+
| Latest date for submission of relevant USE | 23 June 2009 |
| instruction(s) or receipt of Conversion Notice | |
| and Share certificate (as appropriate) | |
| | |
+------------------------------------------------+--------------------------+
| Conversion Calculation Date | 30 June 2009 |
| | |
+------------------------------------------------+--------------------------+
| | |
+------------------------------------------------+--------------------------+
| Conversion Date | 10 August 2009 |
| | |
+------------------------------------------------+--------------------------+
Enquiries:
+------------------------------------------------+--------------------------+
| Chris Copperwaite | Tel: +44 (0)1481 732815 |
| Dexion Capital (Guernsey) Limited | |
| | |
+------------------------------------------------+--------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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