Tender Offer and Buyback Programme

RNS Number : 8751D

Highbridge Multi-Strategy Fd Ltd £

02 May 2017

 

HIGHBRIDGE MULTI-STRATEGY FUND LIMITED (the "Company")

TENDER OFFER AND BUYBACK PROGRAMME

The Board of the Company have determined that a tender offer in the second quarter of 2017 will not be made, but the Company will continue to operate a buyback programme.

The Board, at its absolute discretion, may determine on a quarterly basis to offer shareholders a tender offer (each a "Tender Offer"). The Board announced a Tender Offer on 26 September, 2016 for up to 20 per cent of the shares then in issue (excluding any treasury shares), instructing a redemption from Highbridge Capital Corporation effective 31 December, 2016 for those Shareholders from whom tendered shares were repurchased.

On 5 January, 2017 the Board, having consulted a number of the Company's largest shareholders, announced that the Company would not be offering a tender offer in the first quarter of 2017 as a result of the reduction in the discount of the share price to NAV since the Tender Offer announced on 26 September, 2016.  As a result of a further reduction in the discount of the share price to NAV since this announcement the Board have determined that a tender offer in the second quarter of 2017 will not be offered but the Company will continue to operate a buyback programme.

For further information about this announcement contact:

JTC Fund Solutions (Guernsey) Limited, Secretary

Tel:  [phone]

Tim Mitchell, J.P. Morgan Asset Management (UK), Investor Relations

Tel: [phone]

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