DW Catalyst Fund Limited (the
"Company")
(a closed-ended collective investment
scheme established as a company with limited liability under
the laws of Guernsey with registered number 52520)
Publication of Discount Trigger
Meeting Circular
17 February
2017
The Company announced on 9 February
2017 that the Discount Trigger Resolution procedure
contained in the Company’s Articles of Incorporation had been
triggered in respect of the year ended 31
December 2016.
The Company will today post a Circular to Shareholders convening
a Discount Trigger Meeting at 10.30
a.m. on 9 March 2017, at which
the Discount Trigger Resolution will be proposed.
The Circular also sets out an explanation of the business to be
considered at the Discount Trigger Meeting, and the consequences of
the Discount Trigger Resolution being approved or rejected by
Shareholders.
If the Discount Trigger Resolution, which will be proposed as an
ordinary resolution, is rejected, the Directors will take no
further action and no Shares will be redeemed. The earliest that
another Discount Trigger Resolution may be required to be proposed
under the Articles would be in respect of the year ending
31 December 2017, depending on the
share price performance of the Shares compared to the Company’s
NAV.
If the Discount Trigger Resolution is passed, the Company must
redeem all Shares which are voted in favour of the Discount Trigger
Resolution (the “Redeeming Shares”). Shares which are voted
against the Discount Trigger Resolution, or which are not voted,
will not be redeemed pursuant to the Discount Trigger
Resolution.
All Redeeming Shares will be redeemed by the Company on
1 August 2017.
Redeeming Shareholders will receive the Redeeming Share
Redemption Proceeds in four quarterly instalments following each of
1 August and 1 November 2017 and 1
February and 1 May 2018, subject to
the retention of a Hold-back Amount in certain circumstances, as
more fully described in the Circular.
Expected Timetable
The expected timetable for the Discount Trigger Meeting and, if
the Discount Trigger Resolution is approved, the return of proceeds
to Redeeming Shareholders, is set out below:
Discount Trigger Meeting
| Latest time and date for
settlement of Redeeming Shares held in CREST into escrow |
10.30 a.m. on 7 March
2017 |
| Latest time and date for
receipt of Redemption Forms |
10.30 a.m. on 7 March
2017 |
| Latest time and date for
receipt of Forms of Proxy for the Discount Trigger Meeting |
10.30 a.m. on 7 March
2017 |
| Discount Trigger
Meeting |
10.30 a.m. on 9 March
2017 |
| Results of
Discount Trigger Meeting announced |
9 March 2017 |
|
Redemption of Redeeming Shares if the Discount Trigger
Resolution is approved |
| Redemption
Date for Redeeming Shares and calculation date for first instalment
of Redeeming Share Redemption Proceeds |
1 August
2017 |
| Earliest
date for payment of first instalment of Redeeming Share Redemption
Proceeds |
Mid-September 2017 |
| Calculation
date for second instalment of Redeeming Share Redemption
Proceeds |
1 November
2017 |
| Earliest date for
payment of second instalment of Redeeming Share Redemption
Proceeds |
Mid-December 2017 |
| Calculation date for
third instalment of Redeeming Share Redemption Proceeds |
1 February
2018 |
| Earliest date for
payment of third instalment of Redeeming Share Redemption
Proceeds |
Mid-March
2018 |
| Calculation date for
fourth instalment of Redeeming Share Redemption Proceeds |
1 May
2018 |
| Earliest date for
payment of fourth instalment of Redeeming Share Redemption
Proceeds, adjusted, if necessary, to take into account the
Hold-back Amount (if any) |
Mid-June
2018 |
| Approximate date for payment of
relevant portion of the Hold-back Amount (if any) to Redeeming
Shareholders |
After
March 2019 |
|
|
|
|
Terms used and not defined in this announcement shall have the
meanings given to them in the Circular.
A copy of the circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at:
www.morningstar.co.uk/uk/NSM and will also be made available on the
Company's website www.dwcatalystltd.com.
Enquiries:
Company website:
www.dwcatalystltd.com
Northern Trust International Fund Administration Services
(Guernsey) Limited
Rebecca Booth
Tel: +44 (0) 1481
745189
RB235@ntrs.com
DW Partners, LP
Laura Rose
Tel: +1 212 751
5872
Laura.Rose@dwpartners.com