News
GILD Arbitrage to postpone redemptions
On November 2nd, 2009, the Fund Management Company decided to postpone redemptions of GILD Arbitrage as of 4 November 2009 until 4 March 2010, but not longer than until the entry into force of the amendments of the Fund Rules.
The decision was made due to the fact that the amendments of the Fund Rules adopted at the General Meeting on 22 October 2009 will not enter into force promptly and the liquid assets of the Fund are continually insufficient for the redemption of the Units. Furthermore, redemptions at this point would conflict with the Terms of GILD Arbitrage Bonds and lead to the default of the Bond Issue. Majority of the Fund Unit holders represented at the General Meeting approved the proposal of the Management Company to postpone the redemptions as described above. Financial Supervision Authority has been notified about the decision.
For further information, please contact:
Kadri Kütt
Communication and Investor Relations Manager
+372 56 800 467
kadri.kytt(at)gildbankers.com