Taliesin Property Fund Limited Redemption of Zero Dividend Preference Shares (4340Z)
August 31 2018 - 5:46AM
UK Regulatory
TIDMTPFZ
RNS Number : 4340Z
Taliesin Property Fund Limited
31 August 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
31 August 2018
TALIESIN PROPERTY FUND LIMITED
(incorporated and registered in Jersey with registered number
91744)
redemption of ZDP Shares
Redemption of ZDP Shares
Taliesin Property Fund Limited ("Taliesin") announces the
compulsory redemption in accordance with its articles (the
"Redemption") of all of the zero dividend preference shares of no
par value in the capital of Taliesin (the "ZDP Shares") at a price
of 144.28p per ZDP Share.
Background to the Redemption
The articles of association of the Company (the "Articles")
require the Company to redeem all outstanding ZDP Shares on or
within 14 days before 30 September 2018 (the "Redemption
Date").
Timetable
The expected timetable of principal events is as follows:
Event Expected
time/date
Publication of the circular to 31 August 2018
ZDP shareholders
------------------
ZDP Redemption Date on which all 28 September 2018
ZDP Shares shall be redeemed by
Taliesin and cancelled
------------------
Settlement Date for payment of 12 October 2018
consideration to ZDP Shareholders
in relation to the Redemption
------------------
Further details of the Redemption
Under the terms of the Redemption, the ZDP shareholders will
receive 144.28p per ZDP Share.
A circular explaining the Redemption was sent to the holders of
ZDP Shares on 31 August 2018.
The redemption of ZDP Shares is conditional on the members of
the Taliesin Board who approve such Redemption being able to make
the necessary 12 month forward looking solvency statement as
required by the Companies (Jersey) Law 1991.
All ZDP Shares will continue to be listed until they are
redeemed pursuant to the Redemption. All ZDP Shares will be
redeemed pursuant to the Redemption and will be cancelled on the
Redemption Date.
It is the intention that the ZDP Shares will be delisted from
the Official List of the UK Listing Authority and that trading of
the ZDP Shares on the main market for listed securities of the
London Stock Exchange will be cancelled with effect from the
Redemption Date.
The last day of dealings in ZDP Shares on the main market is
expected to be the ZDP Redemption Date and no transfers will be
registered after 6.00 p.m. (London time) on that date.
Enquiries:
Taliesin
Nigel Anthony Le Quesne Tel: +44 (0) 15
3470 0000
----------------
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END
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