DW CATALYST FUND LIMITED (IN VOLUNTARY
LIQUIDATION) (THE “COMPANY”)
Audit Hold-back and final
distribution
At an extraordinary general meeting of the Company held on
2 August 2017, the shareholders of
the Company passed resolutions to wind-up the Company and appointed
Linda Johnson and Ashley Paxton of KPMG Channel Islands Limited as
joint liquidators (the “Liquidators”).
To date the Liquidators have, pursuant to the Discount Trigger
Circular dated 17 February 2017 and
the Liquidation Circular dated 12 July
2017 (the “Circulars”), made four interim liquidation
payments to Redeeming Shareholders and four interim liquidation
payments to Continuing Shareholders.
As stated in the Liquidators’ announcement dated 17 August 2018, and as detailed in the Circulars,
DW Catalyst Offshore Fund Limited (the “Feeder Fund”) held back an
amount equal to 5% of the aggregate of the redemption proceeds
received by the Company in 2018. The Company is expecting to
receive from the Feeder Fund an amount not exceeding the amount
held back by the Feeder Fund (the “Hold-back Amount”) following the
completion of the audit of the Feeder Fund. It was originally
expected that the receipt of the Hold-Back amount would take place
in March 2019, however due to delays
in the completion of the audit of the Feeder Fund the Company has
been instructed that receipt of the Hold-back Amount will now
likely be at the end of April
2019.
On this basis the Liquidators currently estimate that the
Company will distribute the Hold-back Amount as a final
distribution in May 2019, apportioned
accordingly between the relevant number of Continuing Shareholders
and Redeeming Shareholders.
A further announcement in relation to the timing and amount of
the final distribution will be made once the Company is in receipt
of the Hold-back amount.
Enquiries:
The Liquidators
Linda Johnson and Ashley Paxton
Glategny Court
Glategny Esplanade
St Peter Port
Guernsey
GY1 1WR
Tel: 01481 721 000
restructuring-ci@kpmg.com