24 Nov 2008 07:02
Bramdean Alternatives Limited (the "Company")
Conversion of Securities: Final Ratios
In respect of the 31 October 2008 Conversion Calculation Date and on the basis of the Net Asset Values of the Company's Ordinary Shares as at 31 October 2008 as previously announced (and using spot currency exchange rate of 1.6157 at 31 October 2008), the Conversion Ratios, calculated in accordance with the Company's articles of association are as follows:
| 1.8217 US$ Shares for every one GBP Share |
| 0.5489 GBP Shares for every one US$ Share |
The Company has received Conversion Notices in respect of the October 2008 conversion calculation date from holders owning 5,671,846 GBP Shares. These holders have elected to switch into U.S Dollar shares. In addition, holders owning 204,357 US$ Shares have elected to switch into GBP Shares.
On the basis of the aggregate level of Conversion Notices received by the Company as previously announced, application has been made to the UK Listing Authority for 10,332,275 new U.S. Dollar Shares of no par value to be admitted to the Official List and 112,181 new GBP Shares of no par value to be admitted to the Official List. Application has also been made for such Shares to be admitted to trading on the London Stock Exchange. It is expected that such admissions will be effective and that dealings in the new Shares will commence on 25 November 2008.
Accordingly, the Company's issued share capital with effect from 25 November 2008 will be as follows:
GBP Shares 92,142,177
US$ Shares 76,116,060
Total Voting Rights in the Company 262,187,972
The expected timetable to Conversion is as follows:
| Conversion Date Ordinary Shareholder CREST or Euroclear accounts credited with new Shares (of the relevant class) | 25 November 2008 By 8.00am 25 November 2008 |
Enquiries:
| Robin Amer RBC Offshore Fund Managers Limited | Tel: +44 (0)1481 744 000 |