Redemption of EUR shares and US$ Shares (1200K)
11 7월 2011 - 3:00PM
UK Regulatory
TIDMGSDO TIDMGSDE TIDMGSDU
RNS Number : 1200K
Goldman Sachs Dynamic Opportunities
11 July 2011
11 July 2011
Goldman Sachs Dynamic Opportunities Limited
Redemption of EUR Shares and US$ Shares
Introduction
Following acceptances by EUR Shareholders and US$ Shareholders
of the recent Redemption Proposals, the Directors have determined
to exercise powers of redemption in respect of the remaining issued
EUR Shares and US$ Shares as permitted by the Company's articles of
association.
In the Company's circular dated 27 May 2011 the Directors stated
that it was then their current intention not to exercise compulsory
redemption rights. However, in view of the relatively small value
of EUR Shares and US$ Shares now in issue, the Directors have
concluded that, it is in the best interests of the Company as a
whole that the remaining US$ Shares and EUR Shares now in issue be
redeemed.
Redemption of EUR Shares and US$ Shares
-- Redemptions will be effected at the estimated NAV of the EUR
Shares and US$ Shares respectively as at 30 June 2011 (less the
costs of implementing the redemptions which may include penalty
fees incurred in realising underlying investments).
-- Settlement (by cheque at the sole risk of the relevant
Shareholder at its registered address) is expected to take place in
one instalment by mid-August 2011.
-- No currency hedging arrangements are now in place in respect
of the EUR Shares. Accordingly, the amounts received by EUR
Shareholders whose EUR Shares are redeemed may alter from the
estimated NAV as at 30 June 2011 where exchange rates between EUR
and US$ move in that period.
-- Settlement of redemption monies in respect of EUR Shares and
the US$ Shares which are redeemed are subject, amongst other
things, to the Board being able to give the necessary certificate
of solvency required by the Companies (Guernsey) Law, 2008, as
amended, prior to payment.
-- Trail commissions will cease to be payable on all EUR Shares
and US$ Shares which are redeemed with effect from 1 July 2011.
Conversion opportunity into GBP Shares
Before the redemption of EUR Shares and US$ Shares, EUR
Shareholders and US$ Shareholders are first being offered the
opportunity to convert their Shares into GBP Shares (being the only
continuing Share class then in issue immediately following such
redemption) by reference to the 30 June 2011 NAV Calculation Date
should they wish to remain invested in the Company. Such conversion
will be on the basis of the ratio of the estimated NAV of the EUR
Shares or the US$ Shares (less any costs of effecting such
conversion), to the estimated NAV of the GBP Shares to be converted
to (each as at the 30 June 2011 NAV Calculation Date) and otherwise
as set out in the Company's articles of association.
Any EUR Shares or US$ Shares which have not been validly elected
for conversion by the closing time for conversion requests of 3.00
p.m. on 22 July 2011 and which remain on the register of EUR
Shareholders or US$ Shareholders at 5.00 p.m. on 22 July 2011 (the
"Record Date") will be redeemed. The registers of EUR Shareholders
and US$ Shareholders will close at that time and EUR Shares and US$
Shares which are redeemed under the arrangements referred to above
will be cancelled shortly thereafter. At that point the listing of
the EUR Shares and the US$ Shares is expected to be cancelled.
Conversion requests into GBP Shares by reference to the 30 June
2011 NAV Calculation Date which have already been received will be
treated as conversion requests pursuant to the conversion
opportunity referred to above and hence no further action to effect
conversion into GBP Shares will need to be taken (unless the
relevant holder notifies Capita Registrars (at the address below)
that it wishes to withdraw such conversion request and instead have
its existing EUR Shares or US$ Shares redeemed).
EUR Shareholders and US$ Shareholders who wish to have their
Shares redeemed should take no action (unless they have already
submitted a conversion request). EUR Shareholders or US$
Shareholders who wish to convert their Shares into GBP Shares and
who have not already submitted a conversion request in respect of
the 30 June 2011 conversion date should follow the instructions set
out under the heading "Conversion Process" below:
Conversion Process
In the case of EUR Shares or US$ Shares held in uncertificated
form (and in respect of which a conversion request into GBP Shares
has not already been submitted), the relevant USE instruction(s)
must be submitted to Capita Registrars by not later than 3.00 p.m.
on 22 July 2011 using the CREST information provided below and by
viewing the relevant corporate action details in CREST:
CREST PARTICIPANT ID - RA10
MEMBER ACCOUNT CODE:
EUR TO GBP - EUR2GBP
US$ TO GBP - USD2GBP
In the case of EUR Shares or US$ Shares held in certificated
form (and in respect of which a conversion request into GBP Shares
has not already been submitted), 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 EUR Share
or US$ Share certificate must be received at the above address by
not later than 3.00 p.m. on 22 July 2011.
Shareholders should note, however, that fractions of Ordinary
Shares arising on conversion will be rounded down and that the
costs of conversion may be disproportionate to the value of the
Shares converted. Hence the aggregate Net Asset Value of those
Ordinary Shares held after conversion may be less than before such
conversion. Such notice once given shall be irrevocable without the
consent of the Directors.
Once a notice to convert Shares has been given that Shareholder
will not be able to deal in those Shares (whether in certificated
or uncertificated form) in the period between giving notice of
conversion and the actual date of conversion and such Shares will
not be redeemed.
This notice is for information only. Any EUR Shareholder or US$
Shareholder who is in any doubt whether to convert or be redeemed
is recommended to contact an independent financial adviser.
Expected Timetable
NAV Calculation Date for purposes 30 June 2011
of redemption of EUR Shares and US$
Shares
Latest date for submission of relevant 3.00 p.m. on 22 July 2011
USE instruction(s) or receipt of Conversion
Notice and EUR Share or US$ Share
certificate (as appropriate)
Record Date for redemption of EUR 5.00 p.m. on 22 July 2011
Shares and US$ Shares and registers
of EUR Shareholders and US$ Shareholders
close
Conversion Date by 29 July 2011
Redemption Date by 29 July 2011
Expected settlement of redemption by mid-August 2011
monies in respect of redeemed EUR
Shares and US$ Shares
Enquiries:
Robin Amer Tel: +44 (0)1481 744 000
RBC Offshore Fund Managers Limited
Niklas Ekholm Tel: +44 (0)20 7051 9270
Head of International Public Relations
Goldman Sachs Asset Management
Anisha Patel Tel: +44 (0)20 7774 2523
Media Relations
Goldman Sachs Asset Management
Stuart Klein Tel: +44 (0)20 7678 8000
RBS Hoare Govett Limited
Terms used in this announcement shall, unless the context
otherwise requires, bear the meanings given to them in the Circular
dated 27 May 2011.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGUGDRSUBBGBB
Goldman D USD (LSE:GSDU)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Goldman D USD (LSE:GSDU)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024
