Redemptions

The source of funds to meet redemption requests derives from investment income, portfolio gains and “mature investments.” If you hold shares that are eligible for redemption, then redemptions will only be available once the Fund has been able to precipitate a liquidity event within its portfolio of investments.

Since a primary goal has always been to provide liquidity to our shareholders, the Fund proposed a new capital structure at the AGM, held at the end of May 2010. The new structure was aimed at providing shareholders with the ability to maximize returns and the opportunity for earlier liquidity. Shareholders voted to pass all of the special resolutions for the new capital structure.

To see details of the new structure, click here.

To see the full press release, click here.

On June 25, 2010, the Fund published details regarding the latest redemption deadline. The deadline to submit redemption requests for eligible shares prior to the restructuring of the Fund is 1pm PT on Friday July 9, 2010. In order to be eligible, shares must have been purchased prior to July 9, 2005.

To read the press release in full, click here.

In the meantime if you have any questions or would like more information, please contact: Rachelle Hodgson, 604-630-5452, rhodgson@penderfund.com.