March 12 (Reuters) - Eildon Capital Ltd EDC.AX :
* ANNOUNCES ITS INTENTION TO TRANSITION FROM A COMPANY TO A STAPLED COMPANY AND TRUST STRUCTURE
* SHAREHOLDERS WILL RECEIVE ONE UNIT IN EILDON CAPITAL TRUST FOR EACH SHARE IN EILDON CAPITAL LIMITED.
* SHAREHOLDERS WILL RECEIVE ONE UNIT IN EILDON CAPITAL TRUST FOR EACH SHARE IN EILDON CAPITAL LIMITED.
* FOLLOWING RESTRUCTURE, CO WILL UNDERTAKE BUYBACK OF 4.55 MILLION SHARES AT UP TO NET TANGIBLE ASSETS VALUE
* THERE WILL BE NO CAPITAL REQUIRED FROM SHAREHOLDERS FOR RESTRUCTURE TO TAKE PLACE.
* WILL PROVIDE SHAREHOLDERS WITH LIQUIDITY BY WAY OF EQUAL ACCESS BUYBACK OF ABOUT 10% OF SHARES UP TO NTA, WHICH IS ABOUT $1.10/SHARE
* FOLLOWING RESTRUCTURE, IT IS INTENDED THAT TRUST WILL HOLD EXISTING AND NEW LOANS
* FOLLOWING RESTRUCTURE, CO WILL HOLD EXISTING DIRECT PROPERTY INVESTMENTS, CURRENTLY ABOUT 9% OF NET ASSETS
* ANY EXCESS FRANKING CREDITS CURRENTLY SITTING IN COMPANY WILL BE DISTRIBUTED AS PART OF RESTRUCTURE.