HarbourVest Global Private Equity Limited Statement Re Redemption Of Class A Shares
September 30 2013 - 2:01AM
UK Regulatory
TIDMHVPE
30 September 2013
HARBOURVEST GLOBAL PRIVATE EQUITY LIMITED - REDEMPTION OF CLASS A SHARES
HarbourVest Global Private Equity Limited ("HVPE") today announces that,
further to the powers granted to the Board at HVPE's extraordinary
general meeting on 26 September 2013, approximately $20,000,000,
representing 1.8678% of the Company's estimated net asset value as at 31
August 2013 (or 1.854% of HVPE's issued share capital), will be redeemed
at close of business on 8 October 2013 (the "Redemption Date") by way of
a compulsory partial redemption of HVPE's class A shares ("Class A
Shares") (the "Compulsory Redemption").
Class A Shares will be redeemed as at the Redemption Date, by reference
to the net asset value per Class A Share as at 31 August 2013 (being
$12.9478 per Class A Share) less the direct costs associated with the
Compulsory Redemption (the "Redemption Price"). Accordingly, such
Redemption Price will be $12.946 per Class A Share to be redeemed.
The Compulsory Redemption will be effected pro rata to holdings of Class
A Shares on the register at the close of business on the Redemption Date
(which is the record date for the purposes of the Compulsory Redemption),
being 8 October 2013.
Payments will be effected on or around 15 October 2013 through CREST (in
the case of Class A Shares held in uncertificated form) or paid by
cheque (in the case of Class A Shares held in certificated form).
Fractions of Class A Shares will not be redeemed and so the number of
Class A Shares to be redeemed for each Class A Shareholder will be
rounded down to the nearest whole number of Class A Shares.
The Class A Shares will be disabled in CREST on the Redemption Date and
the existing ISIN number GG00B28XHD63 (the "Old ISIN") will expire. The
new ISIN number GG00BDSTPW61 (the "New ISIN") in respect of the
remaining Class A Shares which have not been redeemed will be enabled
and be available for transactions from and including 9 October 2013. Up
to and including the Redemption Date, Class A Shares will be traded
under the Old ISIN and as such, a purchaser of such Class A Shares would
have a market claim for a proportion of the redemption proceeds. CREST
will automatically transform any open transactions as at the Redemption
Date into the New ISIN. Class A shareholders holding their shares in
certificated form will be issued with new share certificates on 9
October 2013. On 9 October 2013 their old share certificates will no
longer be valid.
As at today's date, the Company has 82,700,000 Class A Shares in issue
of which none are held in treasury. All of the Class A Shares redeemed
on the Redemption Date will be cancelled.
Enquiries:
HarbourVest
Stuart Howard Mobile: +44 (0) 7739 showard@harbourvest.com
538096
Laura Thaxter Tel: +1 (617) 348 3695 lthaxter@harbourvest.com
Fishburn Hedges
Paul Farrow / Alastair Tel: +44 (0) 20 7839 4321 HVPE@fishburn-hedges.co.
Fairbrother / Ben Lyons uk
Notes to Editors:
About HarbourVest Global Private Equity Limited:
HarbourVest Global Private Equity Limited ("HVPE") is a
Guernsey-incorporated closed-end investment company which has a dual
listing on both the London Stock Exchange and Euronext Amsterdam. HVPE
is registered as an investment institution with the Netherlands
Authority for the Financial Markets. HVPE is designed to offer
shareholders long-term capital appreciation by investing in a private
equity portfolio diversified by geography, by stage of investment, by
vintage year, and by industry. It invests in and alongside
HarbourVest-managed funds which focus on primary partnership commitments,
secondary investments, and direct investments in operating companies.
HVPE is advised by HarbourVest Advisers L.P., an affiliate of
HarbourVest Partners, LLC.
About HarbourVest Partners, LLC:
HarbourVest is an independent global private equity investment firm and
an SEC registered investment advisor, providing vehicles for
institutional investors to invest in the venture capital and buyout
markets in the U.S., Europe, and elsewhere through primary partnerships,
secondary purchases, and direct investments. The HarbourVest
team began investing in 1982 and has committed more than $30 billion to
investments over its more than 30-year history. Across its global
investment platform, HarbourVest and its affiliates have more than 230
employees in Boston, London, Hong Kong, Tokyo, Bogotá, and Beijing.
This announcement is for information purposes only and does not
constitute or form part of any offer to issue or sell, or the
solicitation of an offer to acquire, purchase or subscribe for, any
securities in any jurisdiction and should not be relied upon in
connection with any decision to subscribe for or acquire any Shares. In
particular, this announcement does not constitute or form part of any
offer to issue or sell, or the solicitation of an offer to acquire,
purchase or subscribe for, any securities in the United States or to US
Persons (as defined in Regulation S under the US Securities Act of 1933,
as amended ("US Persons")). Neither this announcement nor any copy of it
may be taken, released, published or distributed, directly or indirectly
to US Persons or in or into the United States (including its territories
and possessions), Canada, Australia or Japan, or any jurisdiction where
such action would be unlawful. Accordingly, recipients represent that
they are able to receive this announcement without contravention of any
applicable legal or regulatory restrictions in the jurisdiction in which
they reside or conduct business. No recipient may distribute, or make
available, this announcement (directly or indirectly) to any other
person. Recipients of this announcement should inform themselves about
and observe any applicable legal requirements in their jurisdictions.
The Shares have not been and will not be registered under the US
Securities Act of 1933, as amended (the "Securities Act") or with any
securities regulatory authority of any state or other jurisdiction of
the United States and, accordingly, may not be offered, sold, resold,
transferred, delivered or distributed, directly or indirectly, within
the United States or to US Persons. In addition, the Company is not
registered under the US Investment Company Act of 1940, as amended (the
"Investment Company Act") and shareholders of the Company will not have
the protections of that act. There will be no public offer of the Shares
in the United States or to US Persons.
This announcement has been prepared by the Company and its investment
manager, HarbourVest Advisers L.P. (the "Investment Manager"). No
liability whatsoever (whether in negligence or otherwise) arising
directly or indirectly from the use of this announcement is accepted and
no representation, warranty or undertaking, express or implied, is or
will be made by the Company, the Investment Manager or any of their
respective directors, officers, employees, advisers, representatives or
other agents ("Agents") for any information or any of the opinions
contained herein or for any errors, omissions or misstatements. None of
the Investment Manager nor any of their respective Agents makes or has
been authorised to make any representation or warranties (express or
implied) in relation to the Company or as to the truth, accuracy or
completeness of this announcement, or any other written or oral
statement provided. In particular, no representation or warranty is
given as to the achievement or reasonableness of, and no reliance should
be placed on any projections, targets, estimates or forecasts contained
in this announcement and nothing in this announcement is or should be
relied on as a promise or representation as to the future.
Other than as required by applicable laws, the Company gives no
undertaking to update this announcement or any additional information,
or to correct any inaccuracies in it which may become apparent and the
distribution of this announcement. The information contained in this
announcement is given at the date of its publication and is subject to
updating, revision and amendment. The contents of this announcement have
not been approved by any competent regulatory or supervisory authority.
This announcement includes statements that are, or may be deemed to be,
"forward looking statements". These forward looking statements can be
identified by the use of forward looking terminology, including the
terms "believes", "projects", "estimates", "anticipates", "expects",
"intends", "plans", "goal", "target", "aim", "may", "will", "would",
"could", "should" or "continue" or, in each case, their negative or
other variations or comparable terminology. These forward looking
statements include all matters that are not historical facts and include
statements regarding the intentions, beliefs or current expectations of
the Company. By their nature, forward looking statements involve risks
and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future and may be beyond
the Company's ability to control or predict. Forward looking statements
are not guarantees of future performance. More detailed information on
the potential factors which could affect the financial results of the
Company is contained in the Company's public filings and reports.
HarbourVest Global Private Equity Limited is registered with the
Netherlands Authority for the Financial Markets as a collective
investment scheme which may offer participations in The Netherlands
pursuant to article 2:66 of the Financial Markets Supervision Act (Wet
op het financieel toezicht). All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective investors are
advised to seek expert legal, financial, tax and other professional
advice before making any investment decision. The value of investments
may fluctuate. Results achieved in the past are no guarantee of future
results.
This announcement is issued by the Company, which is registered with the
Netherlands Authority for the Financial Markets and whose registered
address is at Anson Place, Mill Court, La Charroterie, St Peter Port,
Guernsey GY1 1EJ.
(c) 2013 HarbourVest Global Private Equity Limited. All rights
reserved.
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: HarbourVest Global Private Equity Limited via Thomson Reuters
ONE
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