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25.03.2010
Fenner Capital Ltd.: Swiss Hawk AG Shareholders to receive free bonus shares in LHKX
Fenner Capital Ltd.: Swiss Hawk AG Shareholders to receive free bonus shares in LHKX
Zurich, 24 March 2010, FENNER CAPITAL LTD issues a statement to clarify the current status of Swiss Hawk AG. During the period since September 2007, Fenner Capital Ltd has acted as asset manager for Swiss Hawk AG. From 24 April 2008 the company became subject to a Superprovisorische Verfügung issued by FINMA. This action was taken in relation to the requirement for Swiss Hawk AG to be regulated under the Swiss Act on Collective Investment Schemes (CISA). During the period since April 2008 it has not been possible to resolve the situation by listing Swiss Hawk AG on the Swiss Bern stock exchange. By mid 2009, it was agreed by all parties involved that it is in the best interests of Swiss Hawk AG’s shareholders to structure a transaction which includes a speedy liquidation of the company, rather than to continue to oppose a liquidation of the company in the Swiss courts and which in due course may well result in a traditional liquidation of the company that very likely could take several years to complete. It should also be noted that in the case of a traditional liquidation, if any assets are distributed to shareholders, the distribution becomes subject to withholding taxes which would very significantly reduce the value delivered to individual shareholders.
Swiss Hawk AG holds a portfolio of assets including significant shareholdings in already listed companies. As part of an arrangement to execute a speedy liquidation of Swiss Hawk AG it has been agreed that a third party will structure a buyout of the Swiss Hawk AG assets which includes a significant shareholding in Deutsche Environmental & Renewable Energy Plc (“DE/RE”) (www.dereplc.de). It has been agreed that the third party will arrange for a distribution of shares in DE/RE shares to Swiss Hawk AG shareholders based on a one for one basis. A further announcement will confirm the date for this transaction.
Previously Fenner Capital Ltd has been in negotiations regarding the development of various projects and has secured various verbal options for Swiss Hawk to acquire participations in development projects at very favourable prices. Fenner Capital has now finalised negotiations to convert a specific verbal option into shares in a UK early stage company.
The early stage UK company is London Hong Kong Exchange Plc (“LHKX”). LHKX is a UK domiciled, holding company for a group of companies active in provision of innovative financial services and products mainly targeted at qualified retail class investors and active traders.
LHKX is developing and a customised online trading platform in co-operation with a leading European bank – LHKX |Trading Platform. LHKX will provide the following LHKX | Trading Platform product groups:
- LHKX | Professional Trading Pool
- LHKX | Institutional Trading Pool
- LHKX | Interactive Trading Competitions designed to provide the active / professional trader with the ultimate challenge.
In addition LHKX has a LHKX | Group Investment Unit and LHKX | Capital group company that focus on corporate development activities with the objective to maximise the LHKX group value.
For further information regarding LHKX visit www.lhkx.com / www.lhkx.co.uk
According to the terms of the transaction arranged for by Fenner Capital Ltd, each Swiss Hawk AG shareholder will be allocated free bonus shares in LHKX based on 1 free bonus share for each 1 share owned in Swiss Hawk AG at a date yet to be announced. It is also confirmed that each free bonus share in LHKX will have attached warrants exercisable into ordinary shares of LHKX during a three month period at an exercise price to be confirmed.
Swiss Hawk AG shareholders can register an email address to receive information updates at the following link: http://www.lhkx.co.uk/cms/index.php?option=com_content&view=article&id=43&Itemid=38&lang=de
Fenner Capital will issue a follow up press release on 9 April 2010 to confirm the timing for the LHKX transaction.
For further information contact :
Mary Prendergast
Email : FennerCapital@gmail.com
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Zurich, 24 March 2010, FENNER CAPITAL LTD issues a statement to clarify the current status of Swiss Hawk AG. During the period since September 2007, Fenner Capital Ltd has acted as asset manager for Swiss Hawk AG. From 24 April 2008 the company became subject to a Superprovisorische Verfügung issued by FINMA. This action was taken in relation to the requirement for Swiss Hawk AG to be regulated under the Swiss Act on Collective Investment Schemes (CISA). During the period since April 2008 it has not been possible to resolve the situation by listing Swiss Hawk AG on the Swiss Bern stock exchange. By mid 2009, it was agreed by all parties involved that it is in the best interests of Swiss Hawk AG’s shareholders to structure a transaction which includes a speedy liquidation of the company, rather than to continue to oppose a liquidation of the company in the Swiss courts and which in due course may well result in a traditional liquidation of the company that very likely could take several years to complete. It should also be noted that in the case of a traditional liquidation, if any assets are distributed to shareholders, the distribution becomes subject to withholding taxes which would very significantly reduce the value delivered to individual shareholders.
Swiss Hawk AG holds a portfolio of assets including significant shareholdings in already listed companies. As part of an arrangement to execute a speedy liquidation of Swiss Hawk AG it has been agreed that a third party will structure a buyout of the Swiss Hawk AG assets which includes a significant shareholding in Deutsche Environmental & Renewable Energy Plc (“DE/RE”) (www.dereplc.de). It has been agreed that the third party will arrange for a distribution of shares in DE/RE shares to Swiss Hawk AG shareholders based on a one for one basis. A further announcement will confirm the date for this transaction.
Previously Fenner Capital Ltd has been in negotiations regarding the development of various projects and has secured various verbal options for Swiss Hawk to acquire participations in development projects at very favourable prices. Fenner Capital has now finalised negotiations to convert a specific verbal option into shares in a UK early stage company.
The early stage UK company is London Hong Kong Exchange Plc (“LHKX”). LHKX is a UK domiciled, holding company for a group of companies active in provision of innovative financial services and products mainly targeted at qualified retail class investors and active traders.
LHKX is developing and a customised online trading platform in co-operation with a leading European bank – LHKX |Trading Platform. LHKX will provide the following LHKX | Trading Platform product groups:
- LHKX | Professional Trading Pool
- LHKX | Institutional Trading Pool
- LHKX | Interactive Trading Competitions designed to provide the active / professional trader with the ultimate challenge.
In addition LHKX has a LHKX | Group Investment Unit and LHKX | Capital group company that focus on corporate development activities with the objective to maximise the LHKX group value.
For further information regarding LHKX visit www.lhkx.com / www.lhkx.co.uk
According to the terms of the transaction arranged for by Fenner Capital Ltd, each Swiss Hawk AG shareholder will be allocated free bonus shares in LHKX based on 1 free bonus share for each 1 share owned in Swiss Hawk AG at a date yet to be announced. It is also confirmed that each free bonus share in LHKX will have attached warrants exercisable into ordinary shares of LHKX during a three month period at an exercise price to be confirmed.
Swiss Hawk AG shareholders can register an email address to receive information updates at the following link: http://www.lhkx.co.uk/cms/index.php?option=com_content&view=article&id=43&Itemid=38&lang=de
Fenner Capital will issue a follow up press release on 9 April 2010 to confirm the timing for the LHKX transaction.
For further information contact :
Mary Prendergast
Email : FennerCapital@gmail.com
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0028361019">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0028361019</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.