RNS Number:7030T
BarclaysGlbl Inv Endowment Fd II Ld
02 May 2008
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in
any doubt as to the action you should take, you are recommended to seek your own
financial advice immediately from your stockbroker, bank manager, solicitor,
accountant or other independent financial adviser duly authorised under the
Financial Services and Markets Act 2000 or the Financial Services (Jersey) Law
1998 (as amended).
If you have sold or otherwise transferred all your Ordinary Shares, please
forward this document, as soon as possible, to the purchaser or transferee or to
the stockbroker, bank or other agent through whom the sale or transfer was
effected for onward transmission to the purchaser or transferee.
Barclays Global Investors Endowment Fund II Limited
La Motte Chambers
St Helier
Jersey Channel Islands
JE1 1BJ
Telephone +44 (0)1534 602000
Facsimile +44 (0)1534 602002
1 May 2008
Dear Shareholder,
Fourth Redemption of Ordinary Shares
Under the Company's Articles of Association, the Company may, at its option, in
each of the years 2005 to 2009 (inclusive) redeem such proportion of the
Company's Ordinary Shares of 1p each as the Directors may consider appropriate.
Any proportion of Ordinary Shares to be redeemed will be redeemed pro rata
amongst the holders of Ordinary Shares.
I am writing to inform you that the Board has resolved that a proportion of the
Company's Ordinary Shares should be redeemed in 2008 (the "Fourth Redemption").
A timetable is set out below.
The Board has decided that one half of the Ordinary Shares in issue will be
redeemed on 3 September 2008 (the "Redemption Date").
The amount per Ordinary Share to be paid in September this year will be based on
the Net Asset Value ("NAV") per Ordinary Share. In order to allow payment to
shareholders to take place as soon as possible after the Redemption Date, the
Directors intend to determine the redemption price by reference to the NAV at
the end of May. Any difference between the redemption price and the NAV per
Ordinary Share immediately prior to the Redemption Date will be retained and
carried forward to future redemption dates.
The retention (if any) will be reflected in the NAV of the remaining Ordinary
Shares in issue after the Redemption Date. In the event of a fall in the NAV
per Ordinary Share between the NAV at the end of May and the 31 August year-end,
resulting in a payment of more than one half of the net assets of the Company,
the NAV per Ordinary Share could fall following the Redemption Date.
The board have yet to decide the exact level of payment, but we anticipate that
this year's payment will be in excess of 126p per Ordinary Share paid in 2007.
The payment date for the proceeds of the Fourth Redemption will be on or about
12 September 2008. Shareholders who have claimed the proceeds of the first,
second and third redemptions (on 7 September 2005, 6 September 2006 and 5
September 2007 respectively) need take no further action. Your green Share
Certificate(s) will expire on 5 September 2008, and a new yellow Share
Certificate for the balance of Ordinary Shares held will be sent to the named
Shareholder on the Register to the registered address of such Shareholder,
together with a cheque for the proceeds of the Fourth Redemption. This new
yellow Share Certificate will not have an expiry date and will be valid for the
remainder of the Company's life.
Under Jersey law, on a redemption of an Ordinary Share the premium (being the
redemption proceeds less the nominal amount of 1p per Ordinary Share) may be
paid out of the share premium account or the distributable profits of the
Company. The nominal amount of 1p per Ordinary Share must be paid either out of
the distributable profits of the Company or out of the proceeds of a fresh issue
of shares made for the purposes of the redemption or a combination of the two.
The Directors intend that preference shares shall be issued to the Company's
Administrator or its nominees if and to the extent that such issue of shares is
necessary to enable the Company to repay the nominal amount in respect of
Ordinary Shares which are to be redeemed.
TIMETABLE
31 August 2008 End of current accounting period of the Company.
3 September 2008 Redemption Date for one half of the Ordinary Shares in
issue.
5 September 2008 Expiry date for existing green Share Certificates
5 September 2008 Record date for Shareholders on the Register to receive
proceeds of redemption
12 September 2008 Earliest date for despatch of cheques and balance Share
Certificates to Shareholders.
Those Shareholders who have not yet received the proceeds of the first, second
or third redemptions should contact the Transfer Agent by writing to Capita
Registrars, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent
BR3 4TU or by telephoning 0871 664 0321, or if calling from outside the UK on
+44 (0)20 8639 3399. Calls to the 0871 664 0321 number cost 10p per minute plus
network extras. Calls may be recorded for your protection and training purposes.
Redemption proceeds due to shareholders will be held by the Company until paid
to Shareholders and any interest earned thereon will be for the benefit of the
Company and be reflected in the NAV.
For UK resident Shareholders, the redemption of Ordinary Shares will normally be
treated as a disposal of shares for capital gains tax purposes, and not as an
income distribution. Shareholders in any doubt as to their tax position should
seek appropriate professional advice. For UK tax purposes, the disposal will be
treated as taking place on the Redemption Date and not at any later date.
If you have any questions concerning any of the foregoing please do not hesitate
to contact the Investment Manager to the Company by telephoning 020 7668 8300.
Yours sincerely,
Peter Bailey
Chairman
This information is provided by RNS
The company news service from the London Stock Exchange
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