BOUSSARD AND GAVAUDAN HOLDING LIMITED (GBP) - N...

Boussard & Gavaudan Holding Limited ("the Company")
a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registration number 45582

"Non-mainstream pooled investments" ("NMPIs")

The Board and the Manager of Boussard & Gavaudan Holding Limited (the "Company"), a closed-end investment company listed and traded on Euronext Amsterdam and the main market of the London Stock Exchange, note the creation by the UK Financial Conduct Authority (the "FCA") of a new category of funds called "non-mainstream pooled investments" ("NMPIs"), which it considers unsuitable for promotion in the UK retail market, and the enactment with effect from 1 January 2014 of The Unregulated Collective Investment Schemes and Close Substitutes Instrument 2013, which made various changes to the FCA's rules, most importantly the Conduct of Business Sourcebook. 

These changes mean that an Independent Financial Advisor ("IFA") cannot recommend these products to their retail clients, except where those individuals have been identified as 'high net worth' or 'sophisticated' investors.  In practical terms, this means that many IFAs might not be able to distribute NMPIs to any retail investors, as they do not segment their clients in this way.
The Board has received appropriate legal and accounting advice that confirms that the Company's shares will qualify as an 'excluded security' under these new rules and will therefore be excluded from the FCA's restrictions that apply to NMPIs.
It is the Board's intention that the Company will continue to conduct its affairs in such a manner that the Company's shares will continue to be excluded from the FCA's rules relating to NMPIs.

6 June 2014

For further information, please contact:

B&G Asset Management     [phone]s
Emmanuel Gavaudan (London) [phone]
Manuel Kalbreier (London) [phone]

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). The shares of the Company (the "Shares") are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc's main market for listed securities.

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 BG Fund Plc has 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 will 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.

NMPI

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BOUSSARD AND GAVAUDAN HOLDING LIMITED (GBP) via Globenewswire

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