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4 Nov 2009 12:29
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4Β NovemberΒ 2009 |
THE OFF-PLAN FUND LIMITED
(the "Company" or "Fund")
Further re:Β CompulsoryΒ PartialΒ Redemption of ParticipatingΒ Shares
Further to the announcement by theΒ CompanyΒ on 26 October 2009, the FundΒ announces thatΒ it has redeemed a total ofΒ 5,576,553Β Participating Shares, equivalent to 50 per cent. of the 11,153,098 Participating SharesΒ previouslyΒ in issue. The redeemed shares have beenΒ cancelledΒ in accordance with the relevant provisions of the Companies (Jersey) Law 1991.Β
If Members hold their Participating Shares in certificated form,Β they shouldΒ receive new certificatesΒ shortlyΒ setting out their resultant holdings following the Redemption.Β Existing share certificates ceasedΒ to be valid at 6pm on 30 October 2009. Payment will be made by way of cheque sent viaΒ registeredΒ post toΒ eachΒ Member'sΒ address stated on theΒ registerΒ ofΒ membersΒ onΒ 30 October 2009. It is anticipated that cheques will be postedΒ todayΒ or tomorrow.
Members that hold theirΒ Participating Shares in certificated form, who are concerned that the register of members may contain incorrect details concerning, amongst other things, their address, should contact Capita Registrars, the Fund's registrars, using the following number 0871 664 0330Β from the UK or + 44 208 639 3399 from overseas.
If Members previously held their Participating Shares in CREST,Β the Participating SharesΒ will beΒ available for transactionsΒ with a new ISIN number JE00B58T0Q96.Β The Redemption proceedsΒ have been remitted toΒ CREST membersΒ today.
Following completion of the RedemptionΒ and as of 2 November 2009, the Fund's entire issued share capital comprised a total of 5,576,545 Participating Shares. Application for these shares to be admitted to trading on AIM has been made and admission is expected to take place onΒ 5Β November 2009.Β
Words and expressions used in this announcement shall have the same meaning as given in the Articles of Association of the Fund (the "Articles") unless the context requires otherwise.
List of Contacts:
Development Capital ManagementRoger HornettAndy Gardiner
020 7355 7600
Merchant John East Securities Limited
(Nominated Adviser)
Bidhi Bhoma/Simon Clements
020 7628 2200
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