FCAP.L Regulatory News (FCAP)

7 May 2008 12:49

FRM Credit Alpha Limited07 May 2008 FRM Credit Alpha Limited Interim Management Statement For the period from 1 January 2008 to 2 May 2008 2 May 2008 This interim management statement covers the period from 1 January 2008 to 2 May2008. It has been produced for the sole purpose of providing information to theCompany's Shareholders in accordance with the requirements of Directive 2004/109/EC (the Transparency Directive). It should not be relied upon for any otherpurpose. Material Events and Transactions during the Period There have been no material events or transactions since 1 January 2008. Therehas been no material change in the business of the Company's operations. TheCompany's investment objectives, as set out in the prospectus dated 5 November2007, and the nature of investments which were acquired by the Company in orderto achieve the investment objectives have not changed materially. On 27 February 2008, the Company issued 7,526,370 Sterling Shares at a price of113.04 pence per Share, a 1.75% premium to the 31 January 2008 Net Asset Valueof 111.1 pence per Share (the "New Shares"). The number of New Shares issuedrepresented 10% of the number of shares already in issue (the "Shares"), themaximum allowable without publishing a prospectus under the ProspectusDirective. The New Shares issued rank pari passu with the Shares already inissue. After the issuance of New Shares, a total of 82,790,071 shares are in issue,with a total Net Asset Value in excess of £92 million. The New Shares were admitted to listing on the Official List and to trading onthe Main Market of the Irish Stock Exchange and to trading on the InternationalBulletin Board of the London Stock Exchange on 27 February 2008. The New Shareshave an ISIN code of GB00 B1QH6J27 and a TIDM of FCAP. The Company has no controlled undertakings. Financial Position and Performance The table below sets out the most recent net asset value per share information. Share Class NAV per Share Valuation Date Sterling 112.5 pence 31 March 2008 This announcement has been issued through the Companies Announcement Service of The Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange