Stmnt re Robeco ZS Argentinie
02 Gennaio 2002 - 9:56AM
UK Regulatory
RNS Number:3502P
Robeco NV
2 January 2002
Rotterdam, 2 January 2002
Robeco announces that, after consultation with Euronext N.V. and the Dutch
central bank (DNB), it has decided to resume the quotation of bid prices for its
investment fund Robeco ZS Argentinie as of today, Wednesday, 2 January 2002,
9:30 hours CET. The fund will only repurchase its own shares; no new shares will
be issued.
Trading in the fund has been suspended since 5 December 2001, because it was
impossible to repatriate money from Argentina. If investors in Robeco ZS
Argentinie had wanted to sell their shares, the proceeds of the underlying
transactions could not have been passed on to them.
During the past few days Robeco has made every effort to find the best possible
solution for the fund's shareholders. Although it was difficult to repatriate
money from Argentina, Robeco has now succeeded in doing so, and has sold all the
fund's investments. This means that the fund is now fully liquid, and the
proceeds of these sales are now available to shareholders.
In view of the negative outlook for Argentina and the associated limited
interest in the fund, Robeco has decided to terminate Robeco ZS Argentinie, and
intends to do so by mid-April. As stated above, the fund changed its investment
policy after consultation with Euronext Amsterdam N.V. and DNB, and will
maintain a full cash position. Trading will continue until the fund is
terminated.
For further information, please contact:
Corporate Communications
Ronald Florisson
+31 - 10 - 224 28 10 (office)
+31 - 653 - 831 586 (mobile)
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