Third Point Offshore Investors Ltd Conversion of Securities (5938D)
March 31 2014 - 7:32AM
UK Regulatory
TIDMTPOU TIDMTPOE TIDMTPOG
RNS Number : 5938D
Third Point Offshore Investors Ltd
31 March 2014
Third Point Offshore Investors Limited (the "Company")
(a closed-ended investment company incorporated with limited
liability under the laws of Guernsey with registered number
47161)
Completion of 28 February 2014 Voluntary and Mandatory EUR Share
Conversion
31 March 2014
Following the publication on 20 March 2014 of the final
month-end net asset values for 28 February 2014, the share
conversion ratios have been determined in accordance with the
articles of incorporation of the Company for the purposes of the 28
February 2014 share conversion date. In addition, the following
Euro shares will be converted to US Dollar shares further to the
conversion notice and the conversion timetable announced by the
Company on 7 February 2014, in accordance with the articles of
incorporation of the Company (such conversion being the "Euro
Conversion"):
1.608121 US Dollar shares for each Sterling share
--------- -----------------------------------------
1.321177 US Dollar shares for each Euro share
--------- -----------------------------------------
0.756901 Euro shares for each US Dollar share
--------- -----------------------------------------
1.217188 Euro shares for each Sterling share
--------- -----------------------------------------
0.621844 Sterling shares for each US Dollar share
--------- -----------------------------------------
0.821566 Sterling shares for each Euro share
--------- -----------------------------------------
On the basis of aggregate applications received and using the
conversion ratios listed above, the following shares will be
issued:
- 855,264 New US Dollar shares of no par value
and the following shares will be cancelled:
- 29,912 Sterling shares of no par value; and
- 610,966 Euro shares of no par value
all with effect from 28 March 2014.
Application has been made to the Financial Conduct Authority
("FCA") for the new shares to be admitted to the Official List of
the UK Listing Authority and admitted to trading on the London
Stock Exchange's main market for listed securities. Application has
also been made to the FCA for the cancellation of the Euro share
class from the Official List.
Admission is expected to occur on 3 April 2014. Shareholder
CREST accounts for converting shareholders are expected to be
updated by 5.00pm on 3 April 2014.
The Company's Articles of Incorporation provide that whenever a
number of shares are converted from one currency class to another,
a corresponding number of unlisted B shares shall be converted so
as to maintain the set ratio of B shares to ordinary shares. On
this basis, the following B shares will be converted:
- 570,176 New US Dollar B shares of no par value
and the following shares will be cancelled:
- 19,941 Sterling B shares of no par value; and
- 407,313 Euro B shares of no par value
all with effect from 28 March 2014.
Following issue and cancellation of the relevant shares, the
total number of shares in issue in each class will be as
follows:
- 47,160,007 US Dollar shares
- 31,440,019 US Dollar B shares
- 2,180,908 Sterling shares
- 1,453,944 Sterling B shares
- 0 Euro shares
- 0 Euro B shares
The number of votes each share in the Company is entitled to on
a poll at any general meeting of the Company were previously
published by the Company and will not change as a result of the
conversions. These are:
US Dollar share 1.0000
Sterling share 2.0000
Euro share 1.5000
From 28 March 2014, the total number of voting rights in the
Company (rounded down to the whole number) is 85,869,730.
Enquiries:
Company website: www.thirdpointpublic.com
Andrew Maiden
Northern Trust International Fund Administration Services
(Guernsey) Limited
Tel: +44 (0) 1481 745368
Email: ARM7@ntrs.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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