2nd Apr 2014 09:07
The World Trust Fund
Final exercise of warrants
The World Trust Fund (the "Company") announces that on the final exercise date of 31 March 2014, holders of warrants exercised their right to subscribe for a total of 5,309,128 ordinary shares of $0.20 each at $3.51 per ordinary share.
A total of 2,484,909 warrants have not been exercised (including those held by US persons who were unable to exercise their warrants). In accordance with the terms of the warrant instrument dated 10 August 2011, the Company has appointed a trustee who, provided that in their opinion the net proceeds of sale (after deduction of all costs and expenses incurred) will exceed the costs of subscription, shall exercise all the subscription rights which have not been exercised and sell in the market the ordinary shares for the benefit of the holders thereof. The trustee will then distribute the net proceeds to such holders, except that entitlements amounting to less than $5.00 shall be retained for the benefit of the Company. All rights attaching to any warrants which are not exercised by the trustee before 14 April 2014, shall lapse on that date.
Applications will be made to the UK Listing Authority and the London Stock Exchange for any ordinary shares arising from the exercise of subscription rights referred to above to be admitted to the premium segment of the Official List and to trading on the main market of the London Stock Exchange. A further announcement will be made in due course confirming the expected date of admission and the resultant issued share capital of the Company.
Enquiries
| State Street Bank Luxembourg
|
| Isabelle Charlier |
| Tel: +352 46 40 10 7068 |
| Westhouse Securities Limited |
| Financial Adviser and Broker |
| Alastair Moreton / Hannah Young / Darren Vickers |
| Tel: +44(0) 20 7601 6118 |
Listing Category: Premium – Equity Closed-ended Investment Fund.
Copyright Business Wire 2014
Related Shares:
WTR.L