News
The general meeting of investors of the risk capital fund GILD Arbitrage approved the restructuring of the fund
The general meeting of the risk capital fund GILD Arbitrage decided to amend the Fund Rules according to the proposals made by the fund management company. Investors who participated at the General Meeting represented ca 60% of the votes and the restructuring of the fund was supported by over 95% of participants. According to the decision of the General Meeting GILD Arbitrage will be a non-public fixed-term fund.
„I am glad that investors have expressed their support to the long-term plans proposed by the fund management company and from hereon we can focus on restoring the value of the assets. The investors additionally supported the fund management company in continuing to manage the fund," said Tõnno Vähk, Fund Manager of GILD Arbitrage.
Vähk emphasised that the general meeting of fund unit holders was the best option for involvement of fund investors in the decision-making process. The authority of the general meeting covers all principal decisions related to the structure and terms of the fund.
In addition to the fund unit holders the amendments in the fund rules have to be approved by the Estonian Financial Supervision Authority.
GILD Arbitrage has postponed redemptions of the fund units until 3 November 2009. The changed rules of the fund will not come into effect by this date and therefore the fund will extend the given deadline until the new fund rules become effective.
In September 2009 GILD Arbitrage also completed the restructuring of the debt obligations into long-term bonds.
For further information, please contact:
Kadri Kütt
Communication Manager
GILD Bankers
+372 56 800 467
kadri.kytt(at)gildbankers.com