Dexion Absolute Limited (in Voluntary
Liquidation) (the “Company”)
Shareholder Update
At an extraordinary general meeting of the Company held on
23 March 2016, shareholders passed
resolutions to wind-up the Company and appointed Ashley Paxton and Linda
Johnson of KPMG Channel Islands Limited as joint liquidators
(the “Liquidators”).
Further to the Liquidators’ shareholder announcement of
22 July 2016, the Liquidators
announce the following update to shareholders with respect to the
Company’s investment in Aurora Offshore Fund II Limited (“AOFL
II”).
On 16 August 2016, the Liquidators
received US$83,758,569.41 (the
“Funds”) representing 71.83% of the reported net asset value (as at
June 30 2016) of the Company’s
investment in AOFL II.
As shareholders will be aware, the Company operates a single
Sterling denominated share class. Upon receipt of the Funds the
Liquidators converted the Funds from US Dollars into Sterling for
settlement on 17 August 2016 at a
rate of US$1.3005 / GBP£1.00.
Accordingly, the Joint Liquidators received GBP£64,404,897.66.
The liquidators anticipate making a distribution of the Funds
(the “First Interim Distribution”) to shareholders of the Company
during the week commencing 22 August
2016.
A further announcement will be made by the Liquidators as soon
as the rate per share and distribution date of the First Interim
Distribution has been agreed.
Following the First Interim Distribution, the Liquidators will
assess the future distribution schedule for AOFL II before making
further distributions to shareholders to ensure that the costs of
making distributions are minimised.
Enquiries
The Liquidators
Linda Johnson and Ashley Paxton
Glategny Court
Glategny Esplanade
St Peter Port
Guernsey
GY1 1WR
Tel: 01481 721 000
restructuring-ci@kpmg.com