Redemption of Redeemable Shares

26 May 2006 07:00

26 May 2006For immediate release Pantheon International Participations PLC Pantheon International Participations PLC (the "Company") announced on 5 May2006 that Redeemable Shareholders would be given the opportunity to tender forredemption all or any of their Redeemable Shares. On the same date the Companyissued a circular to Redeemable Shareholders informing them of the procedurefor redemption (the "Circular"). As stated in the announcement and theCircular, the Company will redeem a maximum of 1,246,727 Redeemable Shares at aprice per Redeemable Share of 802.1 pence (being the net asset value per shareof the Company as at 31 March 2006) and having an aggregate value at such priceof up to approximately ‚£10,000,000.Valid tenders for redemption have been received from 40 holders of RedeemableShares in respect of a total of 4,992,486 Redeemable Shares and, in accordancewith the redemption procedure 1,246,709 Redeemable Shares will be redeemedtoday. As the number of Redeemable Shares validly tendered for redemptionexceeded 1,246,727, larger tenders were subject to scaling back as contemplatedin the Circular. The Directors determined that the threshold amount for largertenders should be 90 Redeemable Shares. Accordingly, Redeemable Sharesrepresented by valid Redemption Tender Notices received in respect of 90 orfewer Redeemable Shares and amounting to 293 Redeemable Shares in aggregatehave been redeemed in full. Valid tenders in respect of 90 or more RedeemableShares (amounting to 4,992,193 Redeemable Shares in aggregate) were scaled backon a proportionate basis such that, in respect of each such tender, the numberof Redeemable Shares redeemed was approximately 24.968% of the number ofRedeemable Shares to which the tender related (rounded down to the nearestwhole number of Redeemable Shares).Following the redemption 28,871,255 Redeemable Shares will remain in issue.For more information please contact:Pantheon International Participations PLC 020 7484 6200Rhoddy SwirePantheon Ventures 020 7484 6200Alastair Bruce / Andrew LebusENDPANTHEON INTERNATIONAL PARTICIPATIONS PLC