Business
Potential move to LSE Listing
Potential move to LSE Listing.
About this update from Cavendish Plc
[{"type":"text","content":"\n FRM Credit Alpha Limited\n03 March 2008\n\n\nThis communication is not for release, publication or distribution in or into\nthe United States, Canada, Japan or Australia.\n\n\nThis communication is an advertisement within the meaning of the prospectus\nrules of the financial services authority and not a prospectus. No offer to buy\nor a solicitation of an offer to buy any securities in the company is being made\nby this communication, in the United States or in any other jurisdiction.\n\n\nFRM Credit Alpha Limited (the 'Company')\n\n\nProposed fund raising and full listing in London\n\n\nThe Board of the Company announces that it is considering a move to a full\nlisting on the Official List of the London Stock Exchange under Chapter 15 of\nthe Listing Rules.\n\n\nThe Directors believe that a full listing on the Official List will enhance the\nprofile of the Company and provide further liquidity and visibility in the\ntrading of the Company's shares.\n\n\nFurthermore, the Board intend to use this opportunity to proceed with an issue\nof new shares. Details on the timing of the change of listing venue and issue of\nshares will be disclosed in due course.\n\n\nThe Company seeks to generate significant returns over cash with low volatility\nand beta to global credit markets when measured over a market cycle. The\nCompany's portfolio comprises between 12 to 25 'specialist credit' hedge funds,\nwhich utilise fundamental research, asset allocation, security selection and\nactivism to invest in credit securities, as opposed to investing according to\nmacro views on interest rate movements or spreads. The Company has returned\n13.08% from its launch on 1 April 2007 through to 31 January 2008, compared to a\ndecrease of 0.75% for the ML US High Yield Master II Index (GBP) for the same\nperiod.\n\n\nThe investment portfolio and general deployment of assets of the Company are\nmanaged by FRM Investment Management Limited. Investment advice is provided by\nFinancial Risk Management Limited. Both FRM Investment Management Limited and\nFinancial Risk Management Limited are part of the FRM Group which was founded in\n1991 and has over US $14 billion in funds of hedge funds assets under management\nand over 200 employees in offices in London, New York, Tokyo, Sydney and\nGuernsey.\n\n\nAdditional information on the Company is available at www...