European Equity Tranche Income Limited
(Incorporated and registered in Guernsey under the Companies (Guernsey) Law, 1994
(as amended) with registered number 44552)
Admitted to trading on AIM on 26 April 2006.
(N.b. The trading of the company's shares on AIM was cancelled with effect from 9 July 2009.
Please see notice at foot of this page re Dealing in Shares of the Company)
European Equity Tranche Income Limited (the “Company”) is a closed-ended limited liability investment company formed under the Companies Law of Guernsey.
The Company's investment adviser is Cartesia Finance S.A.S., 78, Avenue Raymond Poincare, 75116 Paris, France.
The Company’s investment objective is to deliver stable returns to shareholders in the form of quarterly dividends and to preserve capital. It aims to achieve this by investing in non investment grade and equity tranches (or ‘‘first loss’’ positions) of residential mortgage-backed securities (“RMBS”) and, to a limited extent, other asset-backed securities (“ABS”) in Continental Europe and the UK.
The Company utilises leverage in order to enhance returns to shareholders.
The Company’s capital structure consists solely of Ordinary Shares.
The Company does not have a fixed life, but there will be a continuation vote on its 7th anniversary in 2013.
The Company is not incorporated in the UK. The Company is incorporated in Guernsey, therefore the rights of shareholders may be different from the rights of shareholders in a UK incorporated company.
The Company invests mainly in continental Europe.
Countries of investments include: Italy, Spain, Portugal, The Netherlands, Germany, The United Kingdom and France
The Company has 10,250,000 ordinary shares in issue as at 17 February 2009. The Company is not permitted to hold shares in treasury.
There are no restrictions on the transfer of shares.
As at 17 February 2009, 83.92% of the shares were not held in public hands.
DEALING IN SHARES OF THE COMPANY
Now that the Company's shares are no longer listed on a stock exchange, shareholders wishing to dispose of their shares are asked to contact Ralph Baber at Union Investment Management Limited, London. Telephone: 0207 256 5734. E-mail: Ralph Baber. Union Investment Management Limited is prepared to organise by private treaty the sale of shares in the Company.