Boussard & Gavaudan Holding Limited
a closed-ended investment company incorporated with limited liability
under the laws of Guernsey with registration number 45582
CANCELLATION OF EURO SHARES HELD IN TREASURY
The board of the company has resolved with immediate effect to cancel
:
- 3,425,623 of the Euro issued shares, thereby reducing the number of
outstanding issued Euros shares of the company to 63,142,446 Euro
shares.
26 November 2008
For further information, please contact:
B&G Asset Management +44 20 7514 0700
Emmanuel Gavaudan
www.bgholdingltd.com
The Company is established as a closed-ended investment company
domiciled in Guernsey. The Company has received the necessary
approval of the Guernsey Financial Services Commission and the States
of Guernsey Policy Council. The Company is registered with the Dutch
Authority for the Financial Markets as a collective investment scheme
pursuant to article 2:73 in conjunction with 2:66 of the Dutch
Financial Supervision Act (Wet op het financieel toezicht).
This announcement is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective investors
are advised to seek expert legal, financial, tax and other
professional advice before making any investment decision. The value
of investments may fluctuate. Results achieved in the past are no
guarantee of future results.
This announcement contains forward looking statements, including,
without limitation, statements regardingthe Company's intention to
establish a mechanism to permit shareholders to switch their ordinary
shares for shares in Sark Fund and statements containing the words
"envisaged", "intention" and "expected" or in each case, their
negative or other variations or similar expressions. Such forward
looking statements involve unknown risk, uncertainties and other
factors that may cause the results to be materially different from
any future results or achievements expressed or implied by such
forward looking statements.
This is not an offer to sell or a solicitation of any offer to buy
any securities in the United States or in any other jurisdiction.
This announcement is not intended to and does not constitute, or form
part of, any offer or invitation to purchase any securities or the
solicitation of any vote or approval in any jurisdiction, nor shall
there be any sale, issuance or transfer of the securities referred to
in this announcement in any jurisdiction in contravention of
applicable law.
Neither the Company nor the Sark Fund have been, and neither will be,
registered under the US Investment Company Act of 1940, as amended
(the "Investment Company Act"). In addition the securities
referenced in this announcement have not been and will not be
registered under the US Securities Act of 1933, as amended (the
"Securities Act"). Consequently any such securities may not be
offered, sold or otherwise transferred within the United States or
to, or for the account or benefit of, US persons except in accordance
with the Securities Act or an exemption therefrom and under
circumstances which ill not require the issuer of such securities to
register under the Investment Company Act. No public offering of any
securities will be made in the United States.
The intended mechanism to permit the Company's shareholders to switch
their ordinary shares in the Company for shares in Sark Fund (unless
otherwise determined by the Company and permitted by applicable law
and regulation), will not be made available, directly or indirectly,
in or into, or by use of mails or any means or instrumentality
(including, without limitation, telephonically or electronically) of
interstate or foreign commerce of, or any facility of a national,
state or other securities exchange of the United States and will not
be capable of acceptance by any such use, means, instrumentality or
facilities from within the United States.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
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Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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