RESPARCS Funding II Limited Partnership / Key word(s): Payout/Final Results
07.03.2011 18:07
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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March 07, 2011
RESPARCS Funding II Limited Partnership (the company) announces the
following:
The Company was informed by HSH Nordbank AG, Hamburg and Kiel ('the Bank'),
that the financial statements for the business year 2010 of the Bank
according to HGB ('Handelsgesetzbuch' / German GAAP) will report a balance
sheet loss/net loss for 2010. Therefore, no coupon payments for the fiscal
year 2010 will be made by the Bank on silent participations and profit
participation capital. Moreover, these hybrid instruments will participate
in the Bank's balance sheet loss/net loss.
For the instruments of RESPARCS Funding II Limited Partnership with ISIN
DE0009842542 listed on the Frankfurt Stock Exchange and on the Official
Segment of the stock market of Euronext Amsterdam N.V. which are based on a
silent participation, this means that no coupon payment will be made for
the profit period 2010 and that these instruments will participate in a
balance sheet loss for the fiscal year 2010 via the silent participation.
The book value of the silent participation was reduced by approx. 4 percent
to approx. 79 percent. The exact amount of loss participation will be
finally announced following the adoption of the Bank's financial statements
by the Supervisory Board of the Bank on 31 March, 2011.
The following instrument of RESPARCS Funding II Limited Partnership is
affected:
ISIN DE0009842542 listed on the Frankfurt Stock Exchange and on the
Official Segment of the stock market of Euronext Amsterdam N.V.
Coupon payment date: 30 June 2011
Issuer
The Company RESPARCS Funding II Limited Partnership, a limited partnership
established under the laws of Jersey on 17 April 2003, acquired with the
proceeds of the Re-Engineered Silent Participation Assimilated Regulatory
Capital (RESPARC) Securities, a silent participation in the commercial
enterprise (Handelsgewerbe) of HSH Nordbank (formerly Landesbank
Schleswig-Holstein Girozentrale) in the form of a Stille Gesellschaft under
German law. The Issuer expects to fund interest payments on the RESPARC
Securities with distributions received under the Participation Agreement
and funds received from the Bank's Luxembourg branch under a loan
agreement. Interest payments are contingent on the Issuer's receipt of
Silent Participation Payments from the Bank under the Participation
Agreement.
Jersey, March 07, 2011
Company: RESPARCS Funding II Limited Partnership
22 Grenville Street
St. Helier
Jersey
07.03.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: RESPARCS Funding II Limited Partnership
22 Grenville Street
JE4 8PX St.Helier/Jersey Channel Islands
GroÃbritannien
Phone: -
Fax: -
E-mail: -
Internet: -
ISIN: DE0009842542
WKN: 984254
Listed: Regulierter Markt in Frankfurt (General Standard)
End of Announcement DGAP News-Service
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DGAP-Adhoc: RESPARCS Funding II Limited Partnership: Participation in losses and non-payment of coupons for HSH Nordbank's hybrid capital
| Source: EQS Group AG