Aida - hedging announcement
01 Septiembre 2009 - 8:11AM
UK Regulatory
TIDMAIDP TIDMAIDU TIDMAIDE
RNS Number : 3338Y
Aida Fund Limited
01 September 2009
The Aida Fund Limited (the "Company")
1 September 2009
Conversion of Sterling and Euro shares to US Dollar shares and cessation of
foreign exchange hedging
On 24 August 2009 shareholders approved a range of proposals to restructure the
Company at class meetings for the Euro and Sterling shareholders and an
extraordinary general meeting of the Company.
As part of the proposals, and in order to ensure that the Company's investment
portfolio does not become unbalanced due to hedging of currency fluctuations and
the necessity of liquidating assets to make payments in connection with such
currency hedging, the Sterling and Euro denominated shares will be converted
into US Dollar denominated shares.
The conversions will take place on the basis of exchange rates and the net asset
values of the Sterling and Euro denominated shares as at 28 August 2009, once
the net asset values have been determined and in conjunction with the
implementation of the proposals.
The exchange rates as at 28 August 2009 at which the conversions will be
undertaken are:
Sterling to US Dollar: GBP1:1.63111 US$
Euro to US Dollar: EUR1:1.43735 US$
Accordingly the Company ceased hedging of foreign currency with effect from 28
August 2009.
For further information please contact:
Aida Capital Limited
020 7600 7500
The information in this announcement should be read in conjunction with the full
text of the Circular to shareholders dated 4 August 2009 and any subsequent
announcements. Capitalised terms used in this announcement shall, unless the
context otherwise requires, bear the meaning given to them in the Circular.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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