DASL Dexion Alp.

    RNS Number : 0222V
  Dexion Alpha Strategies Limited
  21 May 2008
   


    Dexion Alpha Strategies Limited

    Conversion Notice

    The Company's Articles of Association incorporate provisions enabling Shareholders of any one class of Ordinary Shares to convert all or
part of their holding into Ordinary Shares of any other class as at the NAV Calculation Date referable to the months of March, June,
September and December in each year (each a "Conversion Calculation Date").

    Such conversion will be on the basis of the ratio of the NAV of the class of Ordinary Shares to be converted from (less the costs of
effecting such conversion), to the NAV of the class of Ordinary Shares to be converted to (each as at the relevant NAV Calculation Date) and
otherwise as set out in the Articles.

    Shareholders should note that the recent US$ Share redemption offer had a record date of 30 April 2008 and accordingly any US$ Shares
arising on conversion will not be eligible to exercise such redemption rights.  Subject to the continued satisfaction of the requirements of
the Listing Rules, the Board have determined not to exercise compulsory redemption rights in respect of those US$ Shares in issue following
completion of the US$ Share redemption offer. Accordingly US$ Shares will not be subject to compulsory redemption unless the requirements of
the Listing Rules cannot be met.

    Shareholders may convert Ordinary Shares of any class into Ordinary Shares of any other class by giving not less than 5 business days
notice to the Company in advance of the relevant Conversion Calculation Date.  

    In the case of Ordinary Shares held in uncertificated form, the relevant USE instruction(s) must be submitted to Capita Registrars at
least 5 business days before the relevant Conversion Calculation Date using the CREST information provided below:

    CREST PARTICIPANT ID                     - RA10

    MEMBER ACCOUNT CODE:

    STERLING TO EURO                            - GBP2EUR

    STERLING TO US DOLLAR                 - GBP2USD

    EURO TO STERLING                            - EUR2GBP

    EURO TO US DOLLAR                         - EUR2USD

    US DOLLAR TO STERLING                 - USD2GBP

    US DOLLAR TO EURO                         - USD2EUR

    In the case of Ordinary Shares held in certificated form, a Conversion Notice must be requested from the Company's Transfer Agent at the
following address:

    Capita Registrars (Corporate Actions)
    P.O. Box 166
    34 Beckenham Road
    Beckenham
    Kent BR3 4TH 
    Telephone: 
    From UK: 0870 162 3100
    From Overseas: +44 208 639 3399

    To be valid the Conversion Notice and the appropriate Share certificate must be received at the above address at least 5 business days
before the relevant Conversion Calculation Date. 

    In addition Shareholders should note, however, that fractions of Ordinary Shares arising on conversions will be rounded down and that
the costs of conversion may be disproportionate to the value of the Ordinary Shares converted.  Hence the aggregate Net Asset Value of those
Ordinary Shares held after conversion may be less than before such conversion.  Shareholders should also note that if they elect to convert
Ordinary Shares they will be unable to deal in those Ordinary Shares in the period between giving notice of conversion and the actual date
of conversion. Such notice once given shall be irrevocable without the consent of the Directors.

    This notice is for information only. Any Shareholder who is in any doubt whether or not to convert is recommended to contact an
independent financial adviser.

    Expected timetable

 Latest date for submission of relevant USE instruction(s) or   20 June 2008
 receipt of Conversion Notice and Share certificate (as
 appropriate)
 Conversion Calculation Date                                    30 June 2008

 Conversion Date                                                11 August 2008

    Enquiries:

 Martine Harrison   Tel: +44 (0)1481 743945
 Dexion Capital
 (Guernsey)
 Limited


This information is provided by RNS
The company news service from the London Stock Exchange
 
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