TIDMWTR

RNS Number : 0682O

Lazard World Trust Fund

25 January 2019

Lazard World Trust Fund (the 'Company')

Return of Capital

Further to the passing of the Resolutions proposed at the Extraordinary General Meeting of the Company held on 11 January 2019 and required to give effect to the managed wind-down of the Company through the adoption of the Divestment Investment Policy and the Compulsory Redemption Mechanism, the Company announces that it will return approximately GBP70 million to Shareholders, equivalent to approximately GBP2.18 per Share, effective on 1 February 2019 (the "Redemption Date") by way of a redemption of a proportion of all Shareholders' holdings of Shares (the "First Redemption").

The Redemption Price per Share shall be GBP3.463, by reference to the NAV per Share as at 23 January 2019. The First Redemption will be effected pro rata to holdings of Shares on the register at the close of business today. Approximately 63% of the Company's issued share capital will be redeemed on the Redemption Date (that is approximately 63 Shares for every 100 Shares held (the "Relevant Percentage")). Fractional entitlements will be rounded down to the nearest whole Share. Where Shares are held by a nominee, including the Depository, it will be for the nominee to determine how the proceeds of any redemption in respect of the number of Shares entered next to its name on the Register are distributed among the beneficial owners of such Shares.

Further redemptions will be effected as additional cash reserves are made available for distribution as further Company assets are realized pursuant to the managed wind down in accordance with the Divestment Investment Policy.

The Company currently has 32,093,493 Shares in issue with voting rights (excluding Shares held in treasury). All of the Shares redeemed on the Redemption Date will be cancelled. A further announcement will be released following the Redemption Date to confirm the new number of Shares in issue.

The existing ISIN, LU0483266259 (the "Old ISIN"), will be disabled in the CREST system after close of business on the Record Date. A new ISIN, LU1938383087, in respect of the remaining Shares which have not been redeemed (the "New ISIN") will be enabled and available for transactions from and including the first Business Day following the Redemption Date, being 4 February 2019.

Payments of redemption proceeds are expected to be effected either through CREST (in the case of Shares held in uncertificated form) or by bank transfer (in the case of Shares held in certificated form) within 14 Business Days of the Redemption Date. Shareholders will be paid their redemption proceeds in Sterling.

Words and expressions that were defined in the Circular posted to shareholders on 20 December 2018 (the "Circular") shall have the same meaning where they are used in this announcement, except where the context requires otherwise.

Expected Timetable

 
                                                       2019 
 Redemption Announcement date                    25 January 
                                    Close of business on 25 
 Record date                                        January 
                                     Close of business on 1 
 Redemption Date                                   February 
 New ISIN enabled, CREST Accounts 
  credited                                       4 February 
 Payment of proceeds                         By 21 February

Enquiries:

 
  Lazard World Trust Fund 
 
    Cenkos Securities 
    Will Rogers/Alex Collins 
  020 7397 1920/1913 
  Link Company Matters 
   Jenny Thompson

020 7954 9599

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 25, 2019 02:00 ET (07:00 GMT)

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