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Ordinary Shares In The Global Investment Basket Limited Are Scheduled For Redemption On 22 October 2007
Hamilton, Bermuda, July 25, 2007 - In an announcement made to the Bermuda Stock Exchange (BSX) Ordinary Shares in The Global Investment Basket Limited are scheduled for redemption on 22 October 2007.
Proxies from Shareholders received by the Board indicated that 94.612% of the issued shares of the Company voted in favour of the extending the planned life of the Company until 20 April 2013 and Shareholders will be able to have the option to elect to either:
€¢ continue their investment in the Company until 30 April 2013 by continuing to hold their Ordinary Shares in accordance with the Prospectus issued by the Company*
€¢ have some or all of their Ordinary Shares redeemed at fair market value*
€¢ sell some or all of their Ordinary Shares to the GIBL Trust at fair market value*
€¢ purchase more Ordinary Shares at a price equal to the fair market value of the Existing Issued Shares pursuant to a secondary fund raising, of which the closing date will be 28 October 2007 but not being later than 31 October 2007, as the Directors may decide.
* provided that Shareholders wishing to remain invested in the Company or elect to redeem or sell some of their shares retain at least 10 Ordinary Shares as a minimum;