NSAI Newstar AB Inc

    RNS Number : 1878Y
  New Star Absolute Return Fund PCC 
  02 July 2008
   

    NEW STAR ABSOLUTE RETURN FUND PCC LIMITED
    (A closed-ended investment company incorporated in Guernsey with registered number 45060 under the provisions of The Companies
(Guernsey) Law 1994 to 1996 and the Protected Cell Companies Ordinance 1997 to 1998, as amended)

    2nd July 2008

    CONVERSION FACILITY

    New Star Absolute Return Fund PCC Limited (the "Company") announces that it has received Conversion Requests and affected Share
Conversions as set out below.

 Class to be converted from  Class to be           Conversion  Shares to be  Shares to be
                             converted                  Ratio      Redeemed      Allotted
 Income Shares               Growth Shares         0.92888810       458,593       425,981

 Growth Shares               Income Shares         1.07655594        28,044        30,190


    The new Share capital as a result of the conversions is set out below.

                                            Income shares  Growth shares

 Shares in issue excluding treasury shares      6,794,537     10,941,818

 Treasury shares                                  800,000        704,000

 Shares in issue including treasury shares      7,594,537     11,645,818


    The Conversion Date was 1 July 2008.

    All shares carry equal voting rights. Following admission of the newly allotted shares to trading on AIM, the total voting rights which
shareholders should use as the denominator for the calculations by which they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules will be 17,736,355.
    An application will be made for the new Shares allotted pursuant to the Share Conversions to be admitted to trading on the AIM Market of
the London Stock Exchange's at 8.00 a.m. on 11 July 2008.

    Expected Timetable

 Unconditional dealings commence                     8.00 a.m. on 11 July 2008

 Expected date that CREST accounts will be debited                11 July 2008
 / credited pursuant to Share Conversions

 Expected date that new Share certificates and any                11 July 2008
 balancing Share certificates will be despatched

    Capitalised words in this announcement bear the meanings given to them in the Company's articles of association.

    Enquiries

    Alison Bilham, HSBC Securities Services (Guernsey) Limited
    Tel: + 44 (0)1481 707213

    Susan Walker, KPMG Corporate Finance - nominated adviser
    Tel: +44 (0) 20 7311 1000

    KPMG Corporate Finance, a division of KPMG LLP which is authorised and regulated by the Financial Services Authority for investment
business activities, is acting for the Company as nominated adviser in relation to the matters set out in this announcement and is not
acting for any other person in relation to these matters. KPMG Corporate Finance will not be responsible to anyone other than the Company
for providing the protections afforded its clients or for providing advice in relation to the contents of this announcement.

    ENDS

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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