Re Redemption Facility


 

TIDMTRMA TIDMTRMU TIDMTRMS 
 
RNS Number : 5917Y 
Thames River Multi Hedge PCC Ltd 
04 September 2009 
 
 
 
COMPANY ANNOUNCEMENT 
 
For Immediate Release 
4 September 2009 
 
Thames River Multi Hedge PCC Limited 
 
Re: Redemption Facility 
 
 
 
Thames River Multi Hedge PCC Limited (the "Company") has a half yearly 
Redemption Facility under which, subject to certain limitations and the 
Directors exercising their discretion to operate the facility on any relevant 
occasion, the holders of Sterling Shares, Dollar Shares, Euro Shares, and 
Realisation Shares may request the redemption of all or part of their holdings 
of Shares for cash. 
 
 
The Directors of the Company hereby give notice to shareholders in the Company 
that they have decided to exercise their discretion to operate the Company's 
share Redemption Facility, for investors in the Sterling, Dollar, Euro and 
Realisation share classes. 
 
The Directors have decided to offer this facility to shareholders on the terms 
set out in this notice and in accordance with, and subject to, the Company's 
prospectus dated 29 April 2008 and its memorandum and articles of association. 
 
Shareholders should note that the Company will not give effect to redemption 
requests for more than 10 per cent. in aggregate of each class of shares in the 
Company in issue on 31 December 2009 (the "Redemption Date"). If the number of 
redemption requests received exceeds this 10 per cent. limit, each shareholder's 
redemption request will be reduced pro rata. 
 
 
Shares will be redeemed on the Redemption Date, at their Net Asset Value on that 
date less the costs of redemption which will include early redemption penalties 
in respect of certain underlying funds and in particular those underlying funds 
which do not permit frequent redemptions, including some funds which have 
"lock?up" periods or "gates", or otherwise do not permit redemptions for 
significant periods. 
 
 
In addition to offering the 31 December 2009 Redemption Facility the Directors 
have pursued a buyback programme throughout 2009. In the period from 1 January 
2009 to 3 September 2009 the Company has, through its share buyback programme, 
already bought back 26,915,000 Sterling Shares, 6,145,000 Dollar Shares, 250,000 
Euro Shares  and 600,000 Realisation Shares  representing in total circa 12 per 
cent. of the Company's issued share capital as at 1 January 2009. 
 
 
For the avoidance of doubt the redemption will not incur any exit charges or 
similar exit fees from the Company's Investment Manager. 
 
 
The Board, with the Investment Manager's advice, will seek to ensure that the 
redemption of Shares does not adversely affect the liquidity of the Company's 
investment portfolio overall, the Company's investment strategy or subsequent 
Net Asset Value following such redemption. However, shareholders should note 
that there can be no guarantee of this being achieved. 
 
 
Shareholders with certificated shares may make redemption requests on 
a redemption notice form which can be obtained by telephoning 0870 703 6393. The 
completed redemption notice form must be delivered to the Company, at the 
Receiving Agent's address, Computershare Investor Services Plc, Corporate 
Actions Projects, Bristol, BS99 6AH, no later than 95 days before the Redemption 
Date, being 25 September 2009. Shareholders with uncertificated shares may make 
redemption requests through CREST by no later than 25 September 2009 in 
accordance with CREST procedures for further details please contact the above 
telephone number. 
Redemption will become effective on 31 December 2009. The redemption monies 
payable in respect of redemption of any certificated Shares will be paid to the 
holder (or, in the case of joint holders, to the holder whose name stands first 
in the register in respect of the shares) by cheque despatched within 10 
business days of the completion of the calculations of the Net Asset Value of 
the Company as at 31 December 2009 (or as soon as practicable) or, if later, 
within 5 business days of the receipt of the certificate(s) (if any have been 
issued) or an indemnity in a form satisfactory to the Directors in lieu of the 
certificate(s) in respect of the Shares being redeemed. 
If a holder whose certificated Shares are to be redeemed fails to deliver the 
certificate(s) (if issued) for those Shares to the Company, the Company may 
retain the redemption monies until such certificate is delivered. 
The redemption monies payable in respect of the redemption of any uncertificated 
Shares will be paid within 10 business days of the completion of the 
calculations of the Net Asset Value of the Company as at 31 December 2009 (or as 
soon as practicable) to the holder by such method as may be determined by the 
Directors. 
Shareholders should note that the Redemption Facility is operated at the sole 
discretion of the Company's Directors and the Directors make no recommendation 
as to whether shares should be redeemed. 
 
 
The next possible date that the Directors may exercise their discretion to 
operate the Redemption Facility is 30 June 2010 although there can be no 
certainty that the Directors will exercise such discretion. 
 
If you are in any doubt as to what action to take, you are immediately 
recommended to seek financial advice from your independent professional adviser 
authorised under the Financial Services and Markets Act 2000. 
 
A redemption notice, once served on the Company or its agents may not be 
withdrawn without the written consent of the Company. 
 
Expected timetable: 
 
 
Latest date for receipt of redemption notice and submission of relevant 
instruction or Share certificate (as appropriate) - 25 September 2009 
 
 
Redemption Calculation Date - 31 December 2009 
 
 
31 December 2009 Net Asset Value publication - on or around 29 January 2010 
 
 
Redemption monies paid - week commencing 8 February 2010 
 
 
Enquiries: 
 
 
Thames River Capital LLP 
Michael Warren  Phone: +44 (0) 20 7360 1370 
 
 
Cenkos Securities plc 
Dion Di Miceli  Phone: +44 (0) 20 7397 1921 
 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Fraser Hiddelston   Phone: +44 (0) 1481 745738 
 
 
Computershare Investor Services (Jersey) Limited 
Shirley Thomas                                   Phone: +44 (0) 1534 825292 
 
 The Company is an authorised closed-ended investment scheme domiciled in 
Guernsey. As an existing closed-ended fund the Company is deemed to be granted 
an authorisation declaration in accordance with section 8 of the Protection of 
Investors (Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the 
Authorised Closed-ended Investment Schemes Rules 2008 on the same date as the 
Company obtained consent under the Control of Borrowing (Bailiwick of Guernsey) 
Ordinance 1959 to 1989. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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