Redemption of Shares (9602C)
March 15 2011 - 6:08AM
UK Regulatory
TIDMBKWB
RNS Number : 9602C
Brookwell Limited
15 March 2011
Brookwell Limited
Notice of compulsory redemption of Participating Redeemable
Preference B Shares ("Shares")
Brookwell Limited (the "Company") announced on 7 March 2011 that
it had disposed of the remaining investment in the B Class Fund.
Accordingly, the Company will redeem all of the outstanding B
Shares on 31 March 2011 as described below.
In accordance with the Company's Articles of Incorporation, the
Company has today sent a notice to shareholders that it will return
the final attributable net assets to holders of B Shares, expected
to be approximately GBP0.4m on 31 March 2011 ("the redemption
date").
All of the remaining assets will be returned to holders of B
Shares on the register at the close of business on the redemption
date and the redemption price of the B Shares will be determined by
reference to the Net Asset Value per B Share at the close of
business on the day immediately preceding the redemption date less
any costs attributable to the redemption. The amount to be applied
to the redemption of B Shares comprises the entirety of the cash
balances received from disposals of investments attributed to the B
Class Fund since the previous redemption less funds used or
required to settle liabilities attributable to the B Class Fund
(including any purchases of B Shares in the market). All of the B
Shares will be redeemed.
The Company issued 12,960,844 B Shares on its flotation, of
which 12,541,986 have been redeemed and cancelled in the previous
pro rata redemptions at an aggregate cost of GBP13,899,967. No B
Shares have been purchased in the market. Therefore at the date of
this announcement, the Company has 418,858 Shares in issue. All of
the B Shares redeemed will be cancelled. As noted above this
redemption will be the final redemption of the B Shares.
The B Shares will be disabled in CREST on the redemption date
and the existing ISIN number GG00B4KG7S24 will expire on this
date.
Copies of the notice sent to shareholders are available from the
Company's website www.brookwelllimited.com
For further information please contact:
Brookwell Limited
Hannah Girard Tel: 01481 726 034
Progressive AIM Realisation Limited (Investment manager)
Robert Legget / Ross Courtier Tel: 020 7566 5550
Deloitte Corporate Finance (Nominated adviser)
Jonathan Hinton / James Lewis Tel: 020 7936 3000
Marshall Securities Limited (Broker)
John Webb Tel: 020 7490 3788
15 March 2011
Website: www.brookwelllimited.com
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
POSGMGMFGKVGMZM
Brookwell B (LSE:BKWB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brookwell B (LSE:BKWB)
Historical Stock Chart
From Jul 2023 to Jul 2024
