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7 Sep 2010 12:02
7 September 2010
RAPID REALISATIONS FUND LIMITED
("Rapid" or "the Company")
Update re Capital Return Scheme
Rapid Realisations Fund Limited (AIM: RRF), announces that further to the announcement on 9 August 2010, in respect of the Capital Return Scheme, the Directors wish to update Shareholders on the proposed timetable of the Capital Return Scheme, which they plan to implement immediately should the Resolutions be passed at the AGM on 14 September 2010.
It is the Directors' current intention to return to Shareholders a minimum of 23p per Share by way of a bonus issue of B Shares to Shareholders on the Company's register on the record date of 14 September 2010. The Company's Shares will be marked ex-dividend on 15 September 2010.
Following their issue the B Shares will be immediately redeemed by the Company on a pro rata basis. The redemptions will have an anticipated settlement date of 28 September 2010.
An announcement with further details will be released after the Company's AGM on 14 September 2010.
Terms defined in the Circular dated 6 August shall have the same meaning when used in this announcement.
-ends-
Enquiries:
Grant Thornton Corporate Finance - Philip Secrett
+44 (0)20 7383 5100
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