Worsley Inv Ltd Regulatory News (WINV)

AXA PROPERTY TRUST LIMITED (a closed-ended company incorporated with limited liability under the laws of Guernsey with registered number 43007) REDEMPTION ANNOUNCEMENT Further to the passing of the Special Resolution by the requisite majority atthe Extraordinary General Meeting held on 27 February 2014 and the powerstherein granted to the Board, the Company will return approximately £1.8million to Shareholders, equivalent to approximately 2.02 pence per Share, on 14May 2015 (the "Redemption Date") by way of a redemption of a proportion of allShareholders' holdings of Shares (the "Redemption"). Words and expressions that were defined in the Circular posted to shareholderson 4 February 2014 (the "Circular") shall have the same meaning where they areused in this announcement, except where the context requires otherwise. The Redemption Price per Share shall be 56.55 pence (by reference to the NAVper Share as at 31 December 2014 which is after deducting deferred tax asrecognised under IFRS and the Group's accounting policies and costs andexpenses in relation to the partial redemption) and the aggregate amount to bedistributed to Shareholders pursuant to the Redemption will be approximately£1.8 million. The Redemption will be effected pro rata to holdings of Shares onthe register at the close of business on the Redemption Date. Around 3.58% ofthe Company's issued share capital will be redeemed on the Redemption Date(that is approximately 3.58 Shares for every 100 Shares held (the "RelevantPercentage")). Fractions of Shares will not be redeemed and so the number ofShares to be redeemed for each Shareholder will be rounded down to the nearestwhole number of Shares. As a result of the Company's disposal programme as described in the Circular,the Company currently has approximately £1.8 million in unallocated cash.Thesales that have been recently achieved, and are in hand, position the Companyto deal with the remainder of the portfolio in an orderly fashion, making thisan appropriate time to distribute to Shareholders the unallocated cash. Thecosts and expenses of this Redemption are estimated not to exceed £7,500,equivalent to approximately 0.24 pence per Share being redeemed. The Company currently has 88,865,954 Shares in issue of which none are held intreasury. All of the Shares redeemed on the Redemption Date will be cancelled.A further announcement will be released following the Redemption Date toconfirm the new number of Shares in issue. The Shares will be disabled in CREST on the Redemption Date and the existingISIN, GG00BRJ94K44 (the "Old ISIN"), will expire. Anew ISIN, GG00BX8ZSL46, inrespect of the remaining Shares which have not been redeemed (the "New ISIN")will be enabled and available for transactions from and including the firstBusiness Day following the Redemption Date.Up to and including the RedemptionDate, Shares will be traded under the Old ISIN and as such, a purchaser of suchShares will have a market claim for a proportion of the redemption proceeds.CREST will automatically transfer any open transactions as at the RedemptionDate (which is the record date for the purposes of the Redemption) to the NewISIN. Payments of redemption proceedsare expected to be effected either through CREST(in the case of Shares held in uncertificated form) or by cheque (in the caseof Shares held in certificated form) within 8Business Days of the RedemptionDate. Shareholders will be paid their redemption proceeds in Sterling. EXPECTED TIMETABLE Redemption Announcement date 29 April 2015 Redemption Date, Redemption Record Date, 14 May 2015(close of business)expiry of Old ISIN New ISIN enabled, CREST Accounts credited 15 May 2015 Payment of proceeds date 26 May 2015