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Global Specialised Opportunities 1 Limited - Announcement
Hamilton, Bermuda - 19 December, 2008 - The Board of Directors of Global Specialised Opportunities 1 Limited (the "Company") (Ticker: GLSPOPP GU) announce result of the recent Board meeting.
NOTICE IS HEREBY GIVEN that a meeting of the Board of Directors of the Company was held at 1 Le Marchant Street, St Peter Port, Guernsey GY1 4HP on 5 December 2008 at 11.00 a.m.
The purpose of the meeting was to consider and if thought fit, approve an addendum (the "Addendum") to the supplemental private placing memorandum dated 21 October 2008 of the Company (the "Memorandum").
The Addendum would:
(i) extend the Second Closing Date to 24 April 2009; and
(ii) alter the method of calculation of the Subscription Price by replacing the 5.5% premium with a rate of USB LIBOR +2%.
It was noted that the Auditors had confirmed that the change to the method of calculation of the Subscription Price was reasonable on the basis that the LIBOR rate on the Second Closing Date would be difficult to predict in these uncertain times.
RESOLUTION
THAT the Addendum be and is hereby approved for immediate issue.
For further information on the Company please contact:
Martin Tolcher
Legis Group Limited
P O Box 186
1 Le Marchat Street
St Peter Port
Guernsey