GIR Gart.Irish

 
TIDMGIR 
 
The announcement of the Tender Offer released earlier today under 
PRNUK-0909091024-ED7C contained a transposition error in the Expected 
Timetable. The Latest time and date for receipt of Tender Forms and TTE 
instructions in CREST should have read: 1.00 p.m. on 30 September and the 
General Meeting time should have read: 10.30 a.m. on 2 October. The corrected 
announcement is set out in full below. All other details remain the same. 
 
 
 
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR 
INDIRECTLY IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE 
REPUBLIC OF SOUTH AFRICA OR JAPAN 
 
Gartmore Irish Growth Fund PLC 
 
Tender Offer 
 
9 September 2009 
 
Introduction 
 
Further to the Company's announcement on 7 August 2009 concerning a proposed 
Tender Offer for the purchase of up to 30 per cent of its issued share capital, 
the Company has today published a circular to Shareholders containing details 
of the Tender Offer. 
 
The Tender Offer is available to Shareholders (other than certain Overseas 
Persons) on the Register as at 5.00 p.m. on 12 August 2009. 
 
Background to the Tender Offer 
 
The Company operates a buy-back policy which has the dual objective of 
enhancing Net Asset Value per Share and providing more liquidity for the 
Shares. The policy has been successful in enhancing Net Asset Value per Share, 
but the turbulent stock markets have not been helpful in improving liquidity at 
a reasonable discount. The Board is therefore proposing a tender offer for up 
to 30 per cent of the Company's issued share capital at a price of 92 per cent 
of the Tender NAV, determined as at the Calculation Date. This proposal will 
give some immediate liquidity to those Shareholders who wish to realise all or 
part of their investment in the Company, while at the same time providing 
ongoing Shareholders with an uplift in their Net Asset Value per Share. 
 
The Directors will not be tendering any of their Shares in the Company. 
 
The Tender Offer 
 
Under the Tender Offer, Shareholders (other than certain Overseas Persons) will 
be entitled to tender up to 30 per cent of their holdings as at the Record Date 
("Basic Entitlement"). Shareholders will also be able to tender additional 
Shares. Such tenders will be satisfied to the extent that other Shareholders 
tender less than their Basic Entitlement and will be satisfied on a pro rata 
basis. Investors who hold Shares through the Gartmore Savings Schemes ("Scheme 
Participants") will be treated in the same way as Shareholders for the purposes 
of any pro-rating of tenders in excess of their Basic Entitlement. 
 
The Tender Offer is being made at 92 per cent of the Tender NAV determined as 
at the Calculation Date. The Tender NAV will include any accrued net income of 
the Company but will exclude the costs of the Tender Offer. 
 
The Tender Offer is being made by Winterflood Securities. Winterflood 
Securities will, as principal, purchase the Shares tendered at the Tender Price 
by means of on-market purchases and, immediately upon completion of those 
purchases, sell them to the Company at the Tender Price. All Shares acquired by 
the Company under the Tender Offer will be cancelled. The repurchase of Shares 
by the Company will be funded from cash resources and the proceeds of sale of 
investments in the Company's portfolio. 
 
Share Buy-Back Policy 
 
The Board has a policy of buying back Shares at times when it is believed to be 
attractive to Shareholders. In particular, Shares are bought back when the 
discount at which the Shares trade relative to Net Asset Value is considered 
too high, which enhances the Net Asset Value per Share for continuing 
Shareholders. 
 
It is the Board's intention to continue to use the Company's existing buy-back 
authority following completion of the Tender Offer in normal market conditions 
and where it believes Shareholder value and liquidity in the Shares can be 
enhanced. No part of the authority to make market purchases granted at the 
Annual General Meeting of the Company held on 3 September 2009 will be used to 
implement the Tender Offer. The Company will limit repurchases under the buy 
back authority to 14.99 per cent of the number of Shares in issue following 
completion of the Tender Offer. 
 
General Meeting 
 
Implementation of the Tender Offer requires the approval of the Shareholders. 
The General Meeting to vote on the proposed special resolution to approve the 
Tender Offer will be held at 10.30 a.m. on 2 October 2009. The notice convening 
the General Meeting is set out at the end of the Circular. 
 
Expected timetable 
 
                                                                          2009 
 
Record Date for Tender Offer                            5.00 p.m. on 12 August 
 
Latest time and date for receipt of Voting           3.00 p.m. on 24 September 
Direction Forms for the General Meeting and 
Scheme Tender Forms 
 
Latest time and date for receipt of Forms of        10.30 a.m. on 30 September 
Proxy 
 
Latest time and date for receipt of Tender Forms     1.00 p.m. on 30 September 
and TTE instructions in CREST 
 
General Meeting                                        10.30 a.m. on 2 October 
 
Calculation Date                                   close of business 2 October 
 
Result of Tender Offer and Tender Price                           by 8 October 
announced 
 
Cheques despatched in respect of proceeds of the                 by 14 October 
Tender Offer and CREST accounts credited with 
proceeds of Tender Offer and unsold 
uncertificated Shares 
 
Balance share certificates in respect of unsold                  by 14 October 
certificated Shares despatched 
 
Despatch of cheques to Scheme Participants in                    by 21 October 
respect of the Tender Offer 
 
Terms used and not defined in this announcement bear the meaning given to them 
in the Circular dated 8 September 2009. 
 
A copy of the Circular has been submitted to the UK Listing Authority and will 
shortly be available for inspection at the UK Listing Authority's Document 
Viewing Facility, which is situated at: 
 
The Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London E14 5HS 
 
Enquiries: 
 
Melissa Gallagher                       020 7782 2124 
Gartmore Investment Limited 
 
Robin Archibald/Katie Standley          020 3100 0290/0297 
Winterflood Investment Trusts 
 
 
 
END 
 

Grafico Azioni Gart.Irish (LSE:GIR)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Gart.Irish (LSE:GIR)
Storico
Da Giu 2023 a Giu 2024