VOLTA FINANCE - RESULTS OF THE FIFTH AGM AND DIVIDEND ANNOUNCEMENT
(Thomson Reuters ONE) -
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES
*****
Guernsey, 20 December 2010 - Two typos were made in the 16th december dividend
announcement. The Ex-Dvidend date for the annual dividend is the 20th December,
not the 21st and the conversion rate is 2.9981, not 3.9981.
The correct version of the annoucement is the following :
The fifth Annual General Meeting (AGM) of Volta Finance Limited (the "Company"
or "Volta Finance" or "Volta") was held on 16(th) December 2011. All resolution
(listed below) was passed.
1. To adopt the audited financial statements of the Company for the year
ended 31 July 2011, including the reports of the Directors and the Auditors (the
"Accounts").
2. To reappoint KPMG Channel Islands Limited of 20 New Street, St Peter
Port, Guernsey as the Company's Auditors to hold office until the conclusion of
the next AGM.
3. To authorise the Board to negotiate and fix the remuneration of the
Auditors in respect of the year ending 31 July 2012.
4. To re-elect Christian Jimenez as an Independent Director of the
Company for a term of three years.
5. To approve a final dividend for the period ended 31 July 2011 in
respect of the Company's ordinary shares of ?0.22 per share, with an ex dividend
date of 20 December 2011, a record date of 22 December 2011 and a payment date
of 16 January 2012.
6. To approve a proposal by the Board that Volta shareholders may, in
accordance with Article 29.(18)* of the Company's Memorandum and Articles of
Incorporation, elect to receive the final dividend for the period ended 31 July
2011 and any future dividends either in cash or Volta shares**.
* Article 29. (18) states as follows: Subject to the Laws, the Board
may, if authorised by an ordinary resolution, offer those Members of a
particular class of shares in respect of any dividend the right to elect to
receive shares by way of a scrip dividend instead of cash.
** The conversion price will be computed as the Volume Weighted Average Price
("VWAP") of the Company's shares during the 4 weeks preceding the AGM minus the
?0.22 dividend. For semi-annual dividend, the conversion price will be computed
as the VWAP of the Company's shares during the 4 weeks preceding the Board at
which such dividend is decided minus the dividend per share.
In line with the computation mechanism set out in Resolution 6, the conversion
price that has been retained is ?2.9981 per share. As a consequence, every
Volta's shareholder will have to choose to receive either ?22 cents per share or
to receive three new shares for every 41 shares*** or any combination of both
formulas. The default option will be payment in cash.
Ex dividend date is the 20(th) December 2011, record date the 22(nd) December
2011 and payment date the 16(th) of January 2012.
*** The payment of dividend in shares in certain jurisdictions may be restricted
(for example, such payment may not be offered within the United States or to of
the account of US persons without a public offering duly documented and accepted
by the relevant U.S. authorities) or prohibited by law. Shareholders are
required to inform themselves about and to observe any such restriction and
prohibition. [Nothing contained in this notice constitutes legal advice nor is
it to be relied on in making an investment or other decision].
*****
ABOUT VOLTA FINANCE LIMITED
Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey)
Laws, 1994 to 1996 (as amended) and listed on Euronext Amsterdam. Its investment
objectives are to preserve capital and to provide a stable stream of income to
its shareholders through dividends. For this purpose, it pursues a multi-asset
investment strategy targeting various underlying assets. The assets that the
Company may invest in either directly or indirectly include, but are not limited
to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage
loans; automobile loans. Volta Finance Limited's basic approach to its
underlying assets is through vehicles and arrangements that provide leveraged
exposure to some of those underlying assets.
Volta Finance Limited has appointed AXA Investment Managers Paris, an investment
management company with a division specialised in structured credit, for the
investment management of all its assets.
ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company
within the AXA Group, a global leader in financial protection and wealth
management. AXA IM is one of the largest European-based asset managers with ?514
billion in assets under management as of the end of June 2011. AXA IM employs
approximately 2,389 people around the world and operates out of 21 countries.
CONTACTS
Company Secretary
State Street (Guernsey) Limited
volta.finance(at)ais.statestreet.com
+44 (0) 1481 715601
Portfolio Administrator
Deutsche Bank
voltaadmin(at)list.db.com
For the Investment Manager
AXA Investment Managers Paris
Serge Demay
serge.demay(at)axa-im.com
+33 (0) 1 44 45 84 47
*****
This press release is for information only and does not constitute an invitation
or inducement to acquire shares in Volta Finance. Its circulation may be
prohibited in certain jurisdictions and no recipient may circulate copies of
this document in breach of such limitations or restrictions.
This press release is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
with the United States Securities and Exchange Commission or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "Securities
Act"). Volta Finance has not registered, and does not intend to register, any
portion of any offering of its securities in the United States or to conduct a
public offering of any securities in the United States.
*****
This document is being distributed by Volta Finance Limited in the United
Kingdom only to investment professionals falling within article 19(5) of the
Financial Services and Market Act 2000 (Financial Promotion) Order 2005 (the
"Order") or high net worth companies and other persons to whom it may lawfully
be communicated, falling within article 49(2)(A) to (E) of the Order ("Relevant
persons"). The shares are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire the shares will be engaged
only with, relevant persons. Any person who is not a relevant person should not
act or rely on this document or any of its contents. Past performance cannot be
relied on as a guide to future performance.
*****
This press release contains statements that are, or may deemed to be, "forward-
looking statements". These forward-looking statements can be identified by the
use of forward-looking terminology, including the terms "believes",
"anticipated", "expects", "intends", "is/are expected", "may", "will" or
"should". They include the statements regarding the level of the dividend, the
current market context and its impact on the long-term return of Volta's
investments. By their nature, forward-looking statements involve risks and
uncertainties and readers are cautioned that any such forward-looking statements
are not guarantees of future performance. Volta Finance's actual results,
portfolio composition and performance may differ materially from the impression
created by the forward-looking statements. Volta Finance does not undertake any
obligation to publicly update or revise forward-looking statements.
Any target information is based on certain assumptions as to future events which
may not prove to be realised. Due to the uncertainty surrounding these future
events, the targets are not intended to be and should not be regarded as profits
or earnings or any other type of forecasts. There can be no assurance that any
of these targets will be achieved. In addition, no assurance can be given that
the investment objective will be achieved.
*****
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Volta Finance Limited via Thomson Reuters ONE
[HUG#1572682]
Unternehmensinformation / Kurzprofil:
Datum: 20.12.2011 - 11:13 Uhr
Sprache: Deutsch
News-ID 98600
Anzahl Zeichen: 9633
contact information:
Town:
Guernsey
Kategorie:
Business News
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"VOLTA FINANCE - RESULTS OF THE FIFTH AGM AND DIVIDEND ANNOUNCEMENT"
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