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BSX Approves Listing of Clear Concept's Medium Term Note Program and Series B1 Notes.
Hamilton, Bermuda: 3 September, 2009 - The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing of Clear Concept Global Opportunity Fund SPC Ltd's "Dual Currency Partially Protected Medium Term Note Program and the Series B1 Notes Due 2014" issued pursuant to the Program under the Exchange's Restricted Marketing provisions for Qualified Investors and Section IIIB of the BSX Listing Regulations pertaining to International Issuers of Debt Securities.
The Clear Concept Global Opportunity Fund SPC Ltd is a segregated portfolio company incorporated in the British Virgin Islands and is registered as a Professional Mutual Fund. The "Dual Currency Partially Protected Medium Term Note Program" provides investors exposure to a managed portfolio described in each Pricing Supplement to a Series of Notes while offering a similarly specified level of protection from loss of capital. In compensation for the protection an investor's maximum return over the investment period is limited to a defined percentage unique for each Series of Notes.
Apex Fund Services Ltd ("Apex") sponsored the listing of both the Program and the initial Series B1 Notes.
James Mc Kirdy, Chief Compliance Officer of the BSX stated, "We are delighted to welcome Clear Concept's Note Program and Series B1 Notes to the Official List of the BSX. The BSX Listing Regulations for International Issuers of Debt Securities are specifically designed to facilitate the listing of this type of Program and Notes that are offered to institutional and sophisticated Qualified Investors". Mr. Mc Kirdy continued, "This Program and its Notes have a unique structure that have taken advantage of the flexibility offered by the Exchange's Listing Regulations for Debt Securities and we are extremely pleased to be working with Clear Concept Capital and Apex."
Peter Hughes of Apex stated, "Apex is pleased to have assisted with the listing of the first Dual Currency Partially Protected Medium Term Note Program to be listed on the BSX. We believe the BSX is well suited to more listings of this nature."
James Irons of Clear Concept Capital, who assisted in designing the investment product commented, "The BSX have been extremely forthcoming with their assistance regarding the listing application. The complexity of the product required open dialogue between the team at Clear Concept and the BSX. This facilitated in ensuring the successful listing of the Program and the Notes issued by the Clear Concept Global Opportunity Fund SPC Ltd and we look forward to continue working with them in future."
For further information on Clear Concept Global Opportunity Fund SPC Ltd's Note Program please contact any of the directors of the Fund on 1-230-217-9000.