Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Tuesday 18 March, 2008

Euro-Partners Arb.Fu

Changes to Fund

Euro-Partners Arbitrage Fund
18 March 2008

                                        COMPANY ANNOUNCEMENT

For Immediate Release                                                                   18 March 2008

                                 EURO-PARTNERS ARBITRAGE FUND, LTD.

                                         RE: Changes to Fund

The Board of Directors (the 'Board') of Euro-Partners Arbitrage Fund, Ltd. (the
'Fund') wishes to announce the following changes to the Fund:

Change of Registered Office of the Fund:

With effect from January 1, 2008 the registered office of the Fund has changed
to the following address:

C/o Walkers SPV Limited

Walker House

87 Mary Street

George Town

Grand Cayman


Cayman Islands

Appointment of Prime Broker:

The Fund has entered into a prime brokerage agreement dated as of November 15,
2007 (the 'Prime Brokerage Agreement') with UBS Securities LLC (the 'Prime
Broker' or 'UBS').  In addition, under the Prime Brokerage Agreement, UBS will
also now act as clearing agent and custodian to the Fund (the 'Custodian')
replacing ADP Clearing and Outsourcing Services, Inc. with effect from December
15, 2006.

UBS serves as prime broker and custodian for the Fund and clears (generally on
the basis of payment against delivery) the securities transactions for the Fund
which are effected through other brokerage firms.  The Prime Broker provides
prime brokerage services which may include margin financing, the establishment
and maintenance of dealing lines, clearing, settlement, the establishment of
trading limits, stock borrowing and foreign exchange facilities.

UBS has the right to refuse to accept any trade and it is the sole
responsibility of UBS to amend, cancel or otherwise affect or interfere with

The Fund will indemnify UBS from and against any and all claims, damages, costs,
losses and liabilities (including reasonable attorneys' fees), except to the
extent that the claim, damages, costs, losses and liabilities are due to the
gross negligence, willful misconduct or fraud by UBS.

The Prime Brokerage Agreement may be terminated by either party without cause,
upon prior written notice.

Fees shall be paid to the Prime Broker by the Fund at normal commercial rates.

As at the date of this announcement UBS has a minimum credit rating of 'A2' for
long term debt from the credit agency of Moody's or 'A' from Standard & Poor's
or Fitch and a minimum of 'P-1' or 'A-1' or 'F-1', for short term from those
same agencies.

As at the date of this announcement UBS has financial resources in excess of
€200 million (or its equivalent in another currency).

UBS is regulated by the Financial Services Authority ('FSA').

The Custodian maintains all assets of the Fund, including securities, cash and
other assets not deposited as margin in a segregated client account and those
assets will be separately identified and will be unavailable to the creditors of
the Custodian in the event of its insolvency.

UBS shall exercise reasonable skill, care and diligence in the selection of a
suitable sub-custodian and shall be responsible to the Fund for the duration of
the sub-custody agreement for satisfying itself as to the ongoing suitability of
the sub-custodian to provide custodial services to the Fund.  UBS will maintain
an appropriate level of supervision over the sub-custodian and make appropriate
enquiries, periodically, to confirm that the obligations of the sub-custodian
continue to be competently discharged.

Change of Administrator:

With effect from January 1, 2008, SEI Global Services Inc. (the 'Administrator')
has replaced HSBC Trustee (Cayman) Limited as administrator to the Fund pursuant
to an agreement between the Fund and the Administrator dated December 22, 2006
(the 'Administration Agreement') and an amendment to the Administration
Agreement dated December 13, 2007.

All material terms and provisions remain the same as the previous Administration

Change in Directors:

With effect from December 19, 2007 Mr. Klaus Haberich and Mr. Markus Elsasser
resigned from the Board for personal reasons.

In addition, Mr. Sebastian Freitag was appointed to the Board on December 19,

Sebastian Freitag is the Managing Director of Freitag & Co, Frankfurt, a leading
German investment bank founded in 2002 with a focus on mergers & acquisitions.
Prior to forming his own firm, Mr. Freitag was head of Lazard Germany.  Earlier
in his career, he spent five years with McKinsey & Company.  He is a member of
the board of the leading German biotech company MediGene AG.  He is also a
member of the World Economic Forum, Davos, the Hessischer Kreis e.V., Frankfurt,
and the Frankfurter Gesellschaft fur Handel, Industrie und Wissenschaft.  Mr.
Freitag holds an MBA with Distinction from the Harvard Business School and a BA
in Economics from Stanford University.

A memorandum detailing the names of all the companies and partnerships of which
Mr. Freitag has been director or partner at any time in the previous five years,
together with an indication of whether or not he is still a director or partner,
is available for inspection at the office of NCB Stockbrokers Limited, 3
George's Dock, Dublin 1, upon request.

Save as disclosed herein, no further information is required to be disclosed in
relation to Mr. Freitag under the Irish Stock Exchange's listing requirements
for investment funds.

The delay in notifying these changes to the Irish Stock Exchange is due to an
oversight of an administrative nature.


NCB Stockbrokers Limited                                                               Ms Margot McDonagh

                                                                                   Phone: +353 1 611 5907

This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                           

a d v e r t i s e m e n t