TIDMDIL2

RNS Number : 8444H

Damille Investments II Limited

15 March 2018

DAMILLE INVESTMENTS II LIMITED (LSE:DIL2) (the "Company")

15 March, 2018

COMPULSORY REDEMPTION OF SHARES

Further to the Company's announcement of the convening of an extraordinary general meeting (the "EGM") to consider a proposed resolution that the Company be voted into members' solvent voluntary liquidation released at 4.51 p.m. on 7 March, 2018, the Company advises that it will return to Shareholders by way of a final compulsory partial redemption of Shares a further amount of approximately GBP985,000, representing approximately 9.54 per cent. of the Company's issued share capital (the "Redemption") as at close of business on Tuesday, 20 March, 2018 (the "Redemption Date").

Shares will be redeemed as at the Redemption Date. The redemption price will be 93.5939 pence per Share, which includes a deduction for all future fees and expenses expected to be incurred by the Company and the liquidator from the unaudited estimated net asset value per Share as at Wednesday, 28 February, 2018.

The Redemption will be effected pro rata to the holdings of Shares on the register at the close of business on the Redemption Date (which is the record date for the purposes of the Redemption), being Tuesday, 20 March, 2018. No fractions of Shares will be redeemed and the number of Shares to be redeemed for each Shareholder will be rounded down to the nearest whole number of Shares as appropriate.

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

All proceeds of the Redemption will be paid in pounds Sterling on or around Friday, 23 March, 2018.

All Shareholders will be sent their redemption proceeds by cheque posted to the registered address of the first named holder at each recipient's own risk.

As stated in the circular convening the EGM sent to all shareholders on 7 March, 2018, after the Redemption and the pending in specie distributions of the Company's holdings in Eurovestech Plc and The Local Shopping REIT Plc, which were announced earlier today, the Company's only assets will be a provision for the liquidator's fees and expenses and all of the Company's other liabilities, disbursements and expenses, including the final fees of the Company's directors and service providers. To the extent that the Board has over-provided for the Company's liabilities or any part of the retention is otherwise unutilised, the Company's remaining assets will also be distributed to Shareholders. However, no further distributions are expected to be made.

Shareholders who wish to receive their redemption proceeds by electronic bank transfer must send a payment request to the Registrar, Anson Registrars Limited, PO Box 426, Anson House, Havilland Street, St Peter Port, Guernsey GY1 3WX. Such request should at a minimum specify the full bank account details of the account to which the redemption proceeds are to be paid and such bank account must be in the name of the registered holder(s). If a Shareholder does elect to request electronic bank transfer of their redemption proceeds, all bank payment charges will be for the account of the payee. The payment request must be sent to Anson Registrars Limited by close of business on Thursday, 22 March, 2018 in order to receive proceeds by electronic bank transfer.

The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00BD9GK654 (the "Old ISIN") will expire.

The new ISIN number GG00BFMHSG58 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including Wednesday, 21 March, 2018. 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    (close of business) 
   Date, expiry of old        20 March, 2018 
   ISIN number. 
-------------------------  --------------------- 
  New ISIN enabled, Crest    21 March, 2018 
   Accounts credited. 
-------------------------  --------------------- 
  Redemption monies paid     23 March, 2018 
   (on or around) 
-------------------------  ---------------------

For further information contact:

   Administrative Enquiries:                                 Shareholder Enquiries: 
   JTC Fund Solutions (Guernsey) Limited               Nimrod Capital LLP 
   Tel: +44 (0) 1481 702 400                                  Tel: +44 (0) 20 7382 4565

info@nimrodcapital.com

E&OE - In Transmission

END OF ANNOUNCEMENT

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

March 15, 2018 06:35 ET (10:35 GMT)

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