HSGU Hsbc Icav Gl Su

 

TIDMHSGU TIDMHSGS 
 
RNS Number : 4932S 
HSBC Global Absolute Limited 
19 May 2009 
 

HSBC Global Absolute Limited 
St Martins House, Le Bordage, St Peter Port, Guernsey, GY1 1BP 
 
 
19th May 2009 
 
 
HSBC Global Absolute Limited ("the Company") announces that at the 
Annual General Meeting held on 18 May 2009, in addition to the ordinary business 
dealt with at that Annual General Meeting, two special resolutions were 
passed (1) approving the renewal of the Company's tender facility and (2) 
authorising the Company to make market acquisitions of its own shares. 
 
 
The texts of the special resolutions are as follows: 
 
 
"THAT the Company be authorised in accordance with The Companies (Guernsey) Law, 
2008 (as amended) to make market acquisitions (within the meaning of section 316 
of The Companies (Guernsey) Law, 2008) of redeemable participating preference 
shares designated as US Dollar shares ("US Dollar Shares"), Sterling Hedged 
shares ("Sterling Hedged Shares") and Euro Hedged shares ("Euro Hedged Shares") 
pursuant to the tender offer facility described in article 3 of its Articles of 
Association ("Articles"), providing that the maximum number of US Dollar Shares, 
Sterling Hedged Shares and Euro Hedged Shares hereby authorised to be purchased 
by way of tender offer is an amount equal to, in aggregate, 24.99 per cent. of 
the US Dollar Shares, 24.99 per cent. of the Sterling Hedged Shares and 24.99 
per cent. of the Euro Hedged Shares in issue as at the date of the passing of 
this resolution. The minimum price which may be paid for a US Dollar Share, 
Sterling Hedged Share or Euro Hedged Share shall be 1p and the maximum price 
which may be paid for a US Dollar Share, Sterling Hedged Share or Euro Hedged 
Share pursuant to this authority shall be the Net Asset Value (as defined in the 
Articles) per US Dollar Share or per Sterling Hedged Share or per Euro Hedged 
Share as at the relevant Tender Date as set out in the Articles. Such authority 
shall expire at the conclusion of the 2010 annual general meeting of the 
Company. The Company may, prior to the expiry of such authority, enter into a 
contract to purchase US Dollar Shares or Sterling Hedged Shares or Euro Hedged 
Shares under such authority and make a purchase of US Dollar Shares or Sterling 
Hedged Shares or Euro Hedged Shares pursuant to any such contract. 
 
 
"THAT the Company be authorised in accordance with The Companies (Guernsey) Law, 
2008 (as amended) to make market acquisitions (within the meaning of section 316 
of The Companies (Guernsey) Law, 2008) of redeemable participating preference 
shares designated as US Dollar shares ("US Dollar Shares"), Sterling Hedged 
shares ("Sterling Hedged Shares") and Euro Hedged shares ("Euro Hedged Shares"), 
provided that the maximum number of US Dollar Shares, Sterling Hedged Shares and 
Euro Hedged Shares hereby authorised to be purchased is 5,580,934 US Dollar 
Shares, 2,537,300 Sterling Hedged Shares and 1,714,529 Euro Hedged Shares or 
such other lesser amounts as shall equal 14.99 per cent. of the US Dollar Shares 
or Sterling Hedged Shares or Euro Hedged Shares (excluding Treasury Shares) (as 
appropriate) in issue as at the date of the passing of this resolution. The 
minimum price which may be paid for a US Dollar Share or Sterling Hedged Share 
or Euro Hedged Share is 1p and the maximum price which may be paid for a US 
Dollar Share or Sterling Hedged Share or Euro Hedged Share shall be limited to 
an amount which must not exceed the higher of (a) 105 per cent. of the average 
market value for the 5 Business Days before the purchase is made and, (b) the 
higher price of the last independent trade and the highest current independent 
bid price. Such authority expires at the conclusion of the 2010 annual general 
meeting of the Company. The Company may, prior to the expiry of such authority, 
enter into a contract to purchase US Dollar Shares or Sterling Hedged Shares or 
Euro Hedged Shares under such authority and make a purchase of US Dollar Shares 
or Sterling Hedged Shares or Euro Hedged Shares pursuant to any such contract." 
 
 
In accordance with Listing Rule 9.6.2, a copy of the special resolutions passed 
at the AGM has been sent to the UK Listing Authority and will shortly be 
available for inspection at the UK Listing Authority's Document Viewing 
Facility, Financial Services Authority, 25 The North Colonnade, Canary Wharf, 
London E14 5HS. 
 
 
Definitions: Unless otherwise defined, capitalised terms used in this 
announcement will have the same meaning given to them in the circular containing 
the notice of the Annual General Meeting sent to shareholders on 17 April 2009. 
 
 
Enquiries: 
Noel von Kaltenborn, HSBC Alternative Investments Limited, 020 7860 3067 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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