10th Oct 2007 14:15
Oryx International Growth Fund Ld10 October 2007 10 October 2007 ORYX INTERNATIONAL GROWTH FUND LIMITED CONVERSION OF C SHARES Further to its announcement dated 28 September 2007, Oryx International GrowthFund Limited ("Oryx") announces the following information in relation to NetAsset Value as at 30 September 2007 and the Conversion of C Shares, includingthe Conversion Date and the Conversion Ratio. Net Asset Value as at 30 September 2007 The net asset values of the Ordinary Shares and the C Shares as at theCalculation Time, being 30 September 2007, were as detailed below (at mid marketvalues, in £ sterling with prior charges at nominal value): Ordinary Shares Net Asset Value 320.89 pence C Shares Net Asset Value 110.97 pence Conversion Ratio On the basis of the above Net Asset Values, the Conversion Ratio for Conversionof the C Shares is 0.34581 Ordinary Shares for every one C Share. On the basis of the Conversion Ratio, a holder of 100,000 C Shares will receive34,581 new Ordinary Shares on Conversion and the same ratio will be applied tosmaller and larger holdings. Fractional entitlements will be aggregated and soldfor the benefit of the Company. The balance of the nominal value of the C Shares which is not converted intoOrdinary Shares will be converted into Deferred Shares on the Conversion Date,which will be immediately repurchased by Oryx for aggregate consideration of 1pence in accordance with the provisions in the Articles of Association of Oryx.On repurchase, each Deferred Share shall be treated as cancelled and theresulting authorised but unissued share capital shall ipso facto be consolidatedand, to the maximum extent possible, reclassified and redesignated as OrdinaryShares. The new Ordinary Shares arising on Conversion will rank pari passu with theexisting Ordinary Shares in issue. Conversion Date The Directors have determined that the Conversion Date will be 12 October 2007.Entitlements on Conversion will be calculated on the basis of holdings of CShares and New Warrants as at the close of business on 11 October 2007. Dealings, CREST and share certificates Dealings in the Ordinary Shares arising from Conversion are expected to commenceat 8.00 a.m. on 12 October 2007. CREST accounts will be credited in respect of Ordinary Shares arising fromConversion on 12 October 2007. Share certificates will be despatched, asappropriate, during the week commencing 15 October 2007. Shares in issue Following Conversion, as at 8.00 a.m. on 12 October 2007 Oryx's issued capitalis expected to be: 24,828,739 Ordinary Shares of 50 pence each with ISIN GB0006630163, of which8,637 Ordinary Shares are held by the Company pending their cancellation. Therefore, the total number of voting rights in the Company is 24,820,102. The above figure of 24,820,102 may be used by Shareholders as the denominatorfor the calculations by which they will determine if they are required to notifytheir interest in, or a change to their interest in the Company under the FSA'sDisclosure and Transparency Rules. The ISIN for the C Shares (GB00B17SDZ90) will be cancelled as at 8.00 a.m. on 12October 2007. Further details of the conversion and rights attaching to the C Shares are setout in Oryx's prospectus in relation to the offer for Baltimore dated 5 July2006 ("Prospectus"). Terms defined in the Prospectus shall have the same meaningin this announcement unless otherwise defined. In accordance with Listing Rule 15.5.1(4), the Directors of Oryx confirm thatthey are satisfied that all inside information that the Directors and Oryx haveup until the date of this announcement has been notified to a RegulatoryInformation Service. Therefore, dealings referred to in Listing Rule 15.5.1(3)are currently permitted and if in the period leading up to the announcement ofits interims results for the six month period ended 30 September 2007, theDirectors or Oryx come into possession of any inside information, this will benotified to a Regulatory Information Service before any such transactions areundertaken. Enquiries: Sara Radford/Paul Smith Tel: 01481 743 004BNP Paribas Fund Services (Guernsey) Limited This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Oryx International Growth