News
Hedge fund GILD Arbitrage to hold a general meeting of investors
AS GILD Fund Management, the fund management company of the only Baltic hedge fund GILD Arbitrage decided to change the rules of the fund in July 2009. The aim of these changes is to involve investors more in the decision making processes of the fund and assemble a general meeting of fund unit holders. On August 19th 2009 Estonian Financial Supervision Authority registered the amendments of the fund rules that will come into effect after one month of the corresponding announcement.
"The best option for further involvement of fund investors in the current legal framework is to set up a general meeting of fund unit holders. The competence of the meeting would encompass all principal decisions related to the structure and terms of the fund," explained Tõnno Vähk, Fund Manager of GILD Arbitrage "The general meeting is planned to be held in October. Fund has already looked into several possibilities to change the structure of the fund in order to support the management of fund`s assets in a longer timeframe, but we would like to make the final decision at the general meeting of fund unit holders."
The redemptions and subscriptions of GILD Arbitrage are postponed until 3 November 2009. In addition to arranging the set up of the general meeting, fund management company in cooperation with the largest creditors has made thorough preparations for converting all loans to the fund into three-year bonds. Changed rules of the fund can be found on the website of the fund management company http://www.gildbankers.com/en/Alternative-Funds/GILD-asset-based-lending-and-investing/GILD-Arbitrage.
For further information, please contact:
Kadri Kütt
GILD Bankers Communication Manager
+372 56 800 467
kadri.kytt(at)gildbankers.com