admission of the Company's Cash Fund
Shares to the Official List of
On 17 December 2012, the Company provided Cash Fund
The investment portfolio of the Common Cash Fund
is managed by the Short-Term Fixed-Income Division of the Bureau of Investments, which reports to Michigan's State Treasurer.
the participant ID of the holder of the Cash Fund
In addition, the Company has in issue a class of Cash Fund
Shares which provide, via investment in the BlackRock Institutional Sterling Liquidity Fund (a sub-fund of the Institutional Cash Series plc), exposure to a portfolio of short-term money market instruments.
Further to the announcement made on 6 November 2012 that the Cash Fund
Share Class is no longer compliant with the "Public Hands" requirements of the UK Listing Rules, the Board announces that, subject to the requisite regulatory approvals and clearances being obtained, and pursuant to the Company's Articles of Association, it currently intends to compulsorily redeem all Cash Fund
Shares in issue after the next share conversion between the UK Emerging Company Shares and the Cash Fund
Shares has been implemented on 31 December 2012.
As a result of a recent transaction in the Company's cash fund
shares the Company is no longer compliant in respect of those Shares with the free float requirement of the UK Listing Rules which, broadly, stipulates that 25 percent of the shares of each class in a listed company should be held by shareholders who are neither Directors nor holders who own more than a 5 percent holding each.
Offer of a Cash Exit in respect of the Cash Fund
805p per Cash Fund
Share has been declared by the Directors, payable on 28 November 2012 to holders of Cash Fund
Shares on the register at the close of business on 2 November 2012 (ex dividend date is 31 October 2012).
The start up funding for the project is derived from the Secretary of State's cash fund
and it is anticipated continual funding for the project will be available from the Secretary of State's office.
The number of Cash Fund
Shares that a Shareholder will receive as a
252405 Cash Fund
Shares for 1 UK Emerging Companies Share.