Conversion of Securities

    RNS Number : 8397H
  New Star RBC Hedge250 IDX (3X GBP)
  10 November 2008
   

    HEDGE ETS

    New Star RBC Hedge 250 Index Exchange Traded Securities
    PCC Limited

    (A closed-ended investment company incorporated in Guernsey with registered number 45501 under the provisions of The Companies
(Guernsey) Laws 1994 to 1996 and The Protected Cell Companies Ordinance 1997 to 1998, as amended)

    10 November 2008

    CONVERSION FACILITY

    Conversion Day

    The Company's Articles of Association incorporate provisions to enable Shareholders to submit a written request to the Company (a
"Conversion Request") to convert some or all of their Shares in one Class into Shares of any other Class with the same Cell on the first
Business Day of January, April, July and October in each year or such other days as the Directors may determine (each a "Conversion Day") by
giving at least 5 Business Day's notice (a "Share Conversion").

    The next Conversion Day will be 31 December 2008.

    Conversion Procedure

    A Conversion Request must specify the number and Class of Shares to be converted from (the "first class") and the Class of Shares into
which they are to be converted to (the "new Class"). Once given, a Conversion Request will be irrevocable without the consent of the
Directors.

    Share Conversions will be effected by redeeming the Shares of the first Class and the issue of Shares of the new Class. Shares of the
first Class will be converted into Shares of the new Class by reference to the ratio of the most recently published NAV per Share of the
relevant Share Classes, adjusting for currency movements (the "Conversion Ratio").

    The Board may at any time set a maximum number of Shares of a Class which may be converted on any Conversion Date and may change such
maximum in their absolute discretion from time to time. If this limit is exceeded, the number of Shares in a Conversion Request will be
reduced pro rata and the request for the conversion will be deemed not to apply to the balance of the Shares in the Conversion Request.

    The costs of conversions are expected to be minimal and will be borne by the Company. However, the Directors reserve the right to vary
the calculation of the Conversion Ratio such that Shareholders making Share Conversions will bear the costs of the conversion.

    A Shareholder electing to convert Shares will be unable to deal in those Shares in the period between submitting a Conversion Request
and the actual date of conversion. Under the Articles of Association the Directors have the discretion to postpone Share Conversions for
such period as they see fit.

    Shareholders will not be permitted to convert Shares in one Cell for Shares in another Cell. Conversions will be intra-Cell only due to
the complexities of the swap arrangements employed by the Cells for the purpose of fulfilling the Company's investment objective.

    All Share Conversions will take place in accordance with, and are subject to, the Articles of Association.

    Shares held in uncertificated form

    A Conversion Request in respect of Shares held in uncertificated form must be accompanied by the submission of the relevant USE
instruction no later than 5.00pm on 22 December 2008.

    Shares held in certificated form

    A Conversion Request in respect of Shares held in certificated form must be accompanied by the relevant share certificate and must
arrive at the following address no later than 5.00pm on 22 December 2008:

    Capita Registrars Limited
    The Registry
    34 Beckenham Road
    Beckenham
    Kent BR3 4TH

    Tax consequences

    The Directors have been advised that under the current UK tax legislation, a conversion of Shares of any Class in the Company into
Shares of any other Class or Classes within the same Cell in the Company should not be treated, for the purposes of UK taxation of
chargeable gains, as crystallising either any disposal of the converted Class of Shares or any acquisition of the other Class or Classes of
Shares. The Shares of the latter Class or Classes should be treated, for those purposes, as having been acquired for the same consideration,
and at the same time, as the Class of Shares that the Shareholder has chosen to convert, so that the capital gains tax base cost of the
Shares arising from the conversion would be the same as the base cost of the Shares which the Shareholder has elected to convert. If any
Shareholder is in any doubt as to their taxation position they are strongly recommended to consult their professional adviser without
delay.

      
    Expected Timetable

 Latest date for receipt of Conversion Requests       5.00 p.m. on 22
 and submission of the relevant USE instruction         December 2008
 or share certificate (as appropriate)

 Conversion Day                                      31 December 2008

 Expected date that CREST accounts will be            16 January 2009
 debited / credited pursuant to Share
 Conversions

 Expected date that new Share certificates and        16 January 2009
 any balancing Share certificates will be
 despatched



    Enquiries

    Alison Bilham, HSBC Securities Services (Guernsey) Limited
    Tel: + 44 (0)1481 707213


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
CONFFMFISSASESF
Newstar Rbc 3X$ (LSE:H3XU)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024