Publication of Prospectus

6 Nov 2007 09:24

FRM Credit Alpha Limited06 November 2007 THIS COMMUNICATION IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA. THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND IS NOT AN OFFER TO SELL OR A SOLLICITATION OF ANY OFFER TO BUY ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION. Investors should not subscribe to the shares referred to in this advertisement except on the basis of the information contained in the prospectus dated 2 November 2007 in connection with the proposed placing (and any supplement oramendment thereto). Copies of the prospectus will be available on the Company's website (www.frmcredit.com), at the Company's registered office, PO Box 173,Trafalgar Court, Admiral Park, St. Peter Port, Guernsey GY1 4HG, at the offices of Herbert Smith LLP, Exchange House, Primrose Street, London EC2A 2HS, and on the Irish Financial Services Regulatory Authority's website (www.financialregulator.ie). FRM Credit Alpha Limited (the 'Company') Publication of Prospectus Further to the Company's announcement on 22 October 2007, FRM Credit AlphaLimited announces that a prospectus in connection with the placing of New Shareshas been published today. The Company is listed on the Irish Stock Exchange and its shares are availableto trade on the London Stock Exchange's International Bulletin Board. The minimum subscription amount under the placing is £50,000 (in the case ofsubscriptions for New Sterling Shares), €75,000 (in the case of subscriptionsfor Euro Shares) or US$100,000 (in the case of subscriptions for Dollar Shares).The placing price of New Sterling Shares will be announced on 22 November 2007,the placing price of the Euro Shares is €1 per Euro Share and the placing pricefor the Dollar Shares is $1 per Dollar Share. The expected timetable is as follows: 2007Placing Price of New Sterling Shares announced 22 NovemberLatest time and date for commitments under the Placing 5.00 p.m. on 21 NovemberDealings in New Shares commence 8.00 a.m. on 27 November Additional information on the Company is available at www.frmcredit.com. This announcement is an advertisement and not a prospectus and is not an offerto sell or a solicitation of any offer to buy any securities in the UnitedStates or in any other jurisdiction. The issuer has not been and will not be registered under the US InvestmentCompany Act of 1940, as amended (the "Investment Company Act"). In addition, theshares have not been and will not be registered under the US Securities Act of1933, as amended (the "Securities Act"). Consequently, the shares may not beoffered, sold or otherwise transferred within the United States or to, or forthe account or benefit of, US persons except in accordance with the SecuritiesAct or an exemption therefrom and under circumstances which will not require theissuer to register under the Investment Company Act. No offering of the shareswill be made in the United States. Neither this document nor anything contained herein shall form the basis of, orbe relied upon in connection with, any offer or commitment whatsoever in anyjurisdiction. Any offer to acquire securities referred to in this advertisementshould be made solely on the basis of information contained in a prospectus madegenerally available in Ireland on 2 November 2007. Copies of such prospectus maybe obtained at no cost from FRM, through the website of the Irish FinancialServices Authority or the website of the issuer. This communication is issued in the UK by Financial Risk Management Limitedwhich is authorised and regulated by the Financial Services Authority and whoseoffice is at 15 Adam Street, London WC2N 6AH. This communication is directed only at (i) persons outside the United Kingdom,or (ii) persons having professional experience in matters relating toinvestments who fall within the definition of "investment professionals" inArticle 19(5) of the Financial Services and Markets Act 2000 (FinancialPromotion) Order 2005 (the "Order") or (iii) high net worth companies,unincorporated associations and partnerships and trustees of high value trustsas described in Article 49(2) (a) to (d) of the Order. Persons within the UnitedKingdom who receive this communication (other than persons falling within (ii)and (iii) above) should not rely on or act upon this communication. Enquiries: Tina Hugo/Luke Burdess, Financial Risk Management 020 7968 6000 Chris Gook, Winterflood Investment Trusts 020 3100 0256 Roland Cross/Sally Moore, Broadgate 020 7776 0508 This information is provided by RNS The company news service from the London Stock Exchange