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Midgard Fixed Income IRSH Change of Name of Share Class and Various Updates



  Midgard Fixed Income (IRSH) - Change of Name of Share Class and Various
  Updates

RNS Number : 2029J
Midgard Fixed Income Fd Ltd (The)
02 August 2012
 

                         STOCK EXCHANGE ANNOUNCEMENT

                                       

                                                                                                                                                                    
1 August, 2012

 

              The Midgard Fixed Income Fund Limited (the "Fund")

                                       

            Re: Change of Name of Share Class and Various Updates

 

Appointment & Resignation of Directors

The Directors  of the  Fund wish  to announce  the resignation  of Lars  Mikal 
Hatlen and  Patrik  Tillman from  the  Board of  Directors  of the  Fund,  for 
business reasons, with effect from 23 February 2012.

                                       

The  Directors   of  also   wish  to   announce  the   appointment  of   Peter 
Fehrn-Christensen and Ulrick Jensen as independent directors of the Fund, with
effect from 23 February 2012.

 

Peter Fehrn-Christensen

Peter Fehrn-Christensen (Danish)  graduated from the  CBS Copenhagen  Business 
School with a Bachelor  of Science Program (economics)  degree in 1975 and  an 
MBA, majoring  in investment  planning, financial  planning and  international 
business, in 1977. In 1984 Mr Fehrn-Christensen became a partner and  Managing 
Director of Sundberg & Co  and then owner and  Managing Director from 1991  to 
2004. In 2004,  Mr Fehrn-Christensen  relocated to Cyprus  where he  currently 
resides.  He  is  currently  Chairman  of  the  Board  of  Directors  of   the 
Stockbrokers Association Charity Fund,  Denmark and Non-Executive Director  of 
VIPGPL Vision International People Group Public Limited, listed on the  Cyprus 
Stock Exchange. He also provides  consultancy services, focusing on  portfolio 
manager selection and asset allocation and has been self-employed for the past
five years.

 

Ulrik Tofte Jensen

Ulrik Tofte  Jensen (Danish)  graduated from  the University  of St.  Andrews, 
Scotland, in 1992 with a BSc. Hons.  Economics degree and an MBA from  INSEAD, 
France, in  2003. In  2006, Mr  Jensen was  appointed Chairman  and  executive 
officer  of  Hamton  Asset  Management,  Geneva,  Switzerland  which  was  the 
investment manager  of Cayman  Islands incorporated  Hamton Hedge  Funds  with 
funds under management of  Euro70 to 200 million  during the period and  asset 
classes  including  Danish  Mortgage  bonds,  corporate  bonds,  international 
equities and fund of funds. Mr Jensen was responsible for general oversight of
fund strategies  and client  relations. Since2011,  he is  a partner  of  Sika 
Partners LLP, the UK based fund manager of the Hamton Funds and a director  of 
the Hamton Funds.

 

 

Peter Fehrn-Christensen and Ulrik Tofte Jensen have never:

 

(i)     had any unspent convictions in relation to indictable offences; or

(ii)    been bankrupt or the subject of a voluntary arrangement, or has had  a 
receiver appointed to any of his assets; or

(iii)  been a director of any company  which, while he was a director with  an 
executive function or within 12 months after  he ceased to be a director  with 
an executive  function,  had a  receiver  appointed or  went  into  compulsory 
liquidation,  creditors  voluntary  liquidation,  administration  or   company 
voluntary arrangements,  or  made any  composition  or arrangements  with  its 
creditors generally or with any class of its creditors; or

(iv)  been a  partner of  any partnership,  which while  he was  a partner  or 
within 12  months  after he  ceased  to be  a  partner, went  into  compulsory 
liquidation, administration  or partnership  voluntary arrangement,  or had  a 
receiver appointed to any partnership asset;

(v)    had  any  public  criticism  by  statutory  or  regulatory  authorities 
(including recognised professional bodies); or

(vi)  been disqualified by a court from acting as a director or from acting in
the management or conduct of affairs of any company.

 

A list  of past  and  current directorships  and  partnerships held  by  Peter 
Fehrn-Christensen and Ulrik Tofte  Jensen over the past  5 years is  available 
for inspection  on request  for a  period of  14 days  from the  date of  this 
announcement from J & E Davy, Davy House, 49 Dawson Street, Dublin 2.

 

The directorate appointments  were not  notified to the  Irish Stock  Exchange 
previously due to an administrative oversight.

 

The Directors also wish to advise of the following operational changes to  the 
Fund:

 

Change of Name

The names of the  Euro Shares of  the Fund will be  renamed as EUR-AA  Shares, 
with immediate effect.

 

Change to Redemption and Subscription Day Definition

With effect from 1 August 2012,  shareholders can redeem from or subscribe  to 
the Eur-AA Shares (previously  the Euro Shares) on  the first Business Day  of 
each calendar quarter and/or any other day as the Directors may determine.

 

Redemption Notice Period.

With effect from 1 August 2012, the Eur-AA Shares (previously the Euro Shares)
are redeemable on each redemption day,  upon at least 60 calendar days'  prior 
written  notice,  previously  30  calendar  days'  prior  written  notice  was 
required.

 

Minimum Investment

The Minimum Holding is  €30,000,000 (previously €250,000) in  the case of  Eur 
AA-Shares or such  lesser amounts  as the  Directors may  in their  discretion 
determine provided that such amount is not less than €100,000 as the case  may 
be (and in any event not less than the equivalent of US$100,000). The  minimum 
amount of additional subscriptions is  €3,000,000 (previously €50,000) in  the 
case of Eur AA-Shares.

 

 

Enquiries:

  Davy   Elaine Drennan +353 1 614 8933

 

 

 

 

 

 

 This announcement has been issued through the Companies Announcement Service
                                      of

                          the Irish Stock Exchange.

                                       

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
ISEEALPAEDSAEFF -0- Aug/02/2012 14:36 GMT
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