Conversion of Securities??? HELP!

jbanks

Hi

I have shares in Bramdean Alternatives Limited a company that invest in Hedge Funds, they have sent me a letter about the 'Conversion of Securities' unfortunately they wrote it in Swahili - they didn't really but I consider myself releatively well educated and I don't have a clue what it's about!

So can anyone tell me what "Conversion of Securities" means, I have googled it but again not a great help!

I have £1000 invested (1000 x £1 shares) the current price (18/4/08) is 0.94 so they are currently worth £940!

Any advice on what they are and what the implications of converting are and is it a good idea to do?

I'm lost!

Thanks everyone!

J

cheerfulcat

Looking at the RNS it seems that there are two classes of shares in this investment company, one in sterling and one in US dollars. Twice a year investors are given to opportunity to switch from one to the other.

Whether it's a good idea is up to you to decide! I suggest that you go to the Bramdean website, download a copy of the prospectus and have a good read of it before you do anything more.