The Lion Fund Limited - Change in Rights and Creation of Additional Classes

Date6-Feb-2012

COMPANY ANNOUNCEMENT

 

 

For Immediate Release

6 February 2012

 

 

THE LION FUND LIMITED

 

 

RE: Change in the Rights of Listed Securities, Creation of Additional Classes of Security, Amendment to Memorandum and Articles of Association and Offering Documentation

                                                                                         

 

The Board of Directors of The Lion Fund Limited (the “Company”) wishes to announce that, following consultation with York Asset Management Limited, the investment manager of the Company, and as a result of progress in industry standards regarding redemption notice periods and the increasing economic importance of Asia, the Company has restructured its existing share capital from three classes of participating shares in the Company (the US Dollar Class, Euro Class and Class B (together, the "Existing Shares")) to the following seven classes of participating shares in the Company: Class A US Dollar, Class A Euro, Class A HKD, Class X, Class B, Class Y and Class Z (together, the "New Share Classes").

The Board of Directors also wishes to announce that, in connection with the foregoing, the following class meetings were held at the offices of Citco Fund Services (Curaçao) B.V., Kaya Flamboyan 9, PO Box 4774, Curaçao on 24 January 2012 (together, the "Class Meetings") in accordance with the Company's then Articles of Association:

(a)   a meeting of the US Dollar Class of participating shares of the Company held at 10.30am;

(b)   a meeting of the Euro Class of participating shares of the Company held at 11.15am; and

(c)   a meeting of the Class B of participating shares of the Company held at 12.00pm.

Pursuant to the Class Meetings, the requisite level of consent from the holders of the Existing Shares has been obtained in relation to the alteration of the share rights attaching to the Existing Shares. Amended and Restated Memorandum and Articles of Association of the Company and a revised offering memorandum were each adopted on 31 January 2012.

For further information in relation to the above announcement please contact Nick Walker of York Asset Management Limited at info@yorklimited.com.