The Authority would like to update those investors that hold an investment in ARM Asset Backed Securities SA (“ARM”).
In its media release of 22nd October 2013, the Authority had informed the general public that Mark James Shaw and Malcolm Cohen of BDO LLP, an auditing and professional consultancy firm in the UK, were appointed as provisional liquidators of ARM by order of the High Court of Justice of England and Wales. The provisional liquidators have the exclusive power to control and manage ARM’s affairs.
On 14th January 2014, the provisional liquidators issued a notice informing ARM investors that they are required to complete an identification request form [specimen copy attached / available on the
MFSA Website] and return it to the provisional liquidators by not later than Thursday 13 February 2014. Investors are required to attach copies of contract notes as proof of their investment.
Investors who fail to submit this form are likely to be excluded from receiving any distributions from ARM in the future.
The provisional liquidators are also organising a meeting for all investors on Monday 3rd February 2014 at 1pm (GMT) in London. The purpose of this meeting is to update investors and discuss the anticipated process and options for the issuer and its property in the current circumstances. Those Bondholders that want to attend the meeting should complete the pre registration form [copy being attached / available on the
MFSA Website] and return it to the provisional liquidators by not later than Thursday 30th January 2014 together with proof of their holding as well as their identification. During the meeting of 3rd February 2014, investors will vote to elect members to sit on an ad-hoc committee of ARM investors, which the provisional liquidators would consult at regular intervals and they will be provided with non-public information.
The notice, as well as the forms which investors are required to compile, are available from the provisional liquidators’ website:
www.bdo.co.uk/arm-abs-sa .
Investors should primarily request information and assistance from the firm which had sold them ARM or with which their investment is now registered. These firms have the necessary information as well as documentation that investors need to compile the requested identification form correctly.
In the event of doubt, the MFSA strongly recommends that investors contact an independent advisor to assist them in compiling the requested forms.
