Predator Oil Regulatory News (PRD)

16 Feb 2006 09:52

Prodesse Investment Limited16 February 2006 Prodesse Investment Limited ("Prodesse") 16 February 2006 Directors Dividend Investment Instruction And Dividend Reinvestment Plan The Board members of Prodesse detailed below have today notified the Company oftheir instructions given to their respective brokers to reinvest the dividendincome from their existing Prodesse shareholdings in further Prodesse withimmediate effect. These shares to be purchased on the open market. Director Current holding John Hallam (Chairman) 10,000 Christopher Fish 2,500 Talmai Morgan 2,500 Christopher Sherwell 2,500 In addition , the Board is currently investigating the implementation of adividend reinvestment plan (DRiP) to enable shareholders to reinvest theirquarterly dividends in a cost effective and efficient manner. Should a DRiP beimplemented, the directors named above will participate in the plan. Commenting on the directors' dividend reinvestment instructions, John Hallam,Chairman of Prodesse said: "We believe that dividend income generated over thelong term from Prodesse will substantially outperform the market. Thecompounding effect of reinvesting the dividend income in the company's ownshares is a highly attractive investment proposition." Enquiries: RBSI Fund Services (Guernsey) Limited:Sara Radford/Paul Smith 01481 743004 About ProdesseProdesse Investment Limited is a limited liability Guernsey-incorporatedclosed-end investment company, the investments of which are managed by FixedIncome Discount Advisory Company. The Company's investment policy is to providenet income for distribution as dividends from the spread between the interestincome earned from a portfolio of residential mortgage-backed securities and the cost of repurchase agreements entered into to finance the acquisition of such residential mortgage-backed securities. Further information can be found on the website at www.prodesse.co.uk This information is provided by RNS The company news service from the London Stock Exchange