Market Repurchase Authority


 

TIDMDASL 
 
RNS Number : 4802O 
Dexion Alpha Strategies Limited 
06 March 2009 
 
 
Dexion Alpha Strategies Limited 
 
 
New Market Repurchase Authority 
 
 
The Company has today posted a Circular to Shareholders in connection with a 
proposed new authority to make market purchases of its own Ordinary Shares. 
 
 
The Company was granted authority by Shareholders at its last Annual General 
Meeting held on 16 June 2008 to make market purchases of up to 14.99 per cent. 
of its issued Ordinary Shares. Share repurchases made from the date of such 
authority to 5 March 2009 totalled 10,640,000 GBP shares (12.03 per cent. of the 
issued GBP shares) and 1,555,373 EUR shares (7.89 per cent. of the issued EUR 
shares) of which 7,050,000 GBP Shares and 1,555,373 EUR Shares are currently held 
in treasury. 
 
 
The Company made significant purchases of its own Ordinary Shares during the 
period following its AGM until early October 2008 when worsening conditions in 
global financial markets and the increased utilisation of the Company's credit 
facility, arising principally from its currency hedging arrangements, resulted 
in the suspension of Ordinary Share repurchases in early October 2008. 
 
 
The Directors remain concerned at the current discount to NAV at which the 
Company's Ordinary Shares trade and on 5 March 2009 determined that the Company 
had sufficient available liquidity to restart its share buyback programme. The 
Directors intend to actively use the Company's share buy back powers from time 
to time to seek to manage any discount at which the Ordinary Shares might trade. 
The Company is therefore seeking Shareholder approval for a new authority to 
make market purchases of up to 14.99 per cent. of the Ordinary Shares in issue 
in advance of its Annual General Meeting later in 2009 when such authority would 
normally be renewed. 
The renewal of the Company's authority to make market purchases of Ordinary 
Shares requires the approval of Shareholders at the Extraordinary General 
Meeting convened for 11.00 a.m. on 25 March 2009 (or at any adjournment 
thereof). 
Continuation Votes 
Further to the Company's announcement on 23 January 2009, the Board now expects 
that the circular to Shareholders putting forward the continuation resolutions 
will be published by the end of March 2009 convening separate class meetings of 
the GBP Shares, EUR Shares and US$ Shares to be held before the end of April 2009. 
 
 
Enquiries: 
 
 
+-------------------------------+----------------------------------------------+ 
| Robin Bowie / Ana Haurie      | Tel: +44 (0) 20 7822 2260                    | 
| Dexion Capital Plc            |                                              | 
|                               |                                              | 
+-------------------------------+----------------------------------------------+ 
| Martine Harrison              | Tel: +44 (0) 1481 743 945                    | 
| Dexion Capital (Guernsey)     |                                              | 
| Limited                       |                                              | 
+-------------------------------+----------------------------------------------+ 
Terms used in this announcement shall, unless the context otherwise requires, 
bear the meanings given to them in the Circular dated 6 March 2009. 
A copy of the Circular will shortly be available for public inspection at the 
Document Viewing Facility, the Financial Services Authority, 25 North Colonnade, 
Canary Wharf, London E14 5HS. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCDGGGFKVZGLZM

Dexion Alpha Strategies (LSE:DASL)
과거 데이터 주식 차트
부터 7월(7) 2024 으로 8월(8) 2024