Statement re Removal of currency hedge
(Thomson Reuters ONE) - TAPESTRY INVESTMENT COMPANY PCC LIMITED (the "Company") 30 October 2009 Removal of currency hedgeThe Company's existing currency hedge is due to expire today and theBoard of Directors has decided not to roll the hedge forward on thebasis that the Company will shortly begin the process of returningcash realised from the Managed Wind-Down of its portfolio toShareholders by way of a compulsory partial redemption of Shares (the"Redemption") as more particularly described in the circular that wassent to shareholders on 21 August 2009 (the "Circular").The Board has instructed the Manager and Investment Manager to holdits cash and any cash to be received by the Company as part of therealisation process but prior to its distribution to Shareholders, inSterling on deposit. The Company's underlying investments aredenominated in US Dollars so that, from 30 October 2009, Shareholderswill be exposed not only to the investment performance of thoseassets but also to fluctuations in the US Dollar/Sterling exchangerate. There may also be some residual exposure due toreceivables/payables denominated in US Dollars.A further announcement on the details of the first Redemption will bemade next week.All capitalised terms unless otherwise stated are as defined in theCircular.Contacts for queries:Tapestry Investment Company PCC LimitedMel Carvill (Chairman)01481 727111Kleinwort Benson (Channel Islands) Fund Services LimitedCompany secretary01481 727111---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 30.10.2009 - 16:29 Uhr
Sprache: Deutsch
News-ID 7689
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 354 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Statement re Removal of currency hedge"
steht unter der journalistisch-redaktionellen Verantwortung von
Tapestry Investment Company PCC Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
