Statement of Investing Policy
(Thomson Reuters ONE) - Prosperity Voskhod Fund Limited Statement of Investing PolicyProsperity Voskhod Fund Limited (the "Company") today notifies itsinvesting policy pursuant to the new requirements of AIM Rule 8. TheCompany's investing policy as set out in this announcement is asoriginally disclosed in the Company's admission document at the timeof its admission to AIM on 6 October 2006. The Company hassubstantially implemented its investing policy and continues toactively manage its portfolio in accordance with it.Investment Objective and Strategy:The investment objective of the Company is to achieve capital growthby investing in a portfolio of securities involved in the corporaterestructuring and consolidation which are expected to take place inRussia and other NIS countries. The Company invests primarily insmall and medium-sized companies, with the aim of being an active andinfluential minority shareholder. Investment is directed towardscompanies considered attractive from a fundamental value perspective.Borrowing:The Company's articles contain standard borrowing powers for theCompany, to borrow up to US$75,000,000, which powers may be exercisedby the Company's board of directors. To date the board of directorshas not exercised these powers.Investment Restrictions:Investment of the Company's assets is subject to certain restrictionsat the date the relevant investment is made:(i) The Company may not invest less than 75% of its gross assets inthe securities of companies established or having their principaloperations in Russia.(ii) The Company may not invest more than 25% of its gross assets inthe securities of companies established or having their principaloperations in NIS countries other than Russia.(iii) The Company may not invest more than 25% of its gross assets inthe securities of companies not listed on a recognised stock exchangeor a recognised NIS OTC market.(iv) The Company may not invest more than 20% of its gross assets inthe securities of companies representing a weighting of more than 5%of the RTS index.(v) The Company may not make any investments in debt securities otherthan (a) in connection with making an equity investment or (b) whenmaking short-term investments as contemplated in Section 5 of Part 1of its admission document, headed ''Short-Term Investments''.(vi) The Company may not invest more than 20% of its gross assets inthe securities of any one company or group, or in any company orgroup which invests in excess of 20% of its gross assets in anycompany or group.(vii) The Company may not invest in more than 25% of the equitysecurities of any one company.(viii) The Company may not expose more than 20% of its gross assetsto the creditworthiness or solvency of any one counterparty. Theforegoing restriction will not apply to (a) investments in securitiesissued or guaranteed by a government, government agency orinstrumentality of any EU or OECD member state, or by anysupranational authority of any EU or OECD member state, or (b) cashdeposits awaiting investment.(ix) The five largest investments of the Company may not exceed 70%of its gross assets.(x) The Company may not invest directly in physical commodities orreal property. The foregoing restriction shall not apply toinvestments in securities of issuers that make investments inphysical commodities or real property.(xi) The Company may not invest in any pooled investment vehicles,other than when making short-term investments in the circumstancesreferred to in clause (vi) of Section 5 of Part 1 of its admissiondocument, headed ''Short-Term Investments''.(xii) The Company may not invest in derivatives other than for thepurposes of efficient portfolio management.Dividend Policy:The Company's objective is to achieve capital growth. It is thereforeanticipated that all income and capital gains derived from theCompany's investment programme will continue to be re-invested.However, income and capital gains may be distributed to shareholders,if the directors deem it appropriate. No dividend has been declaredto date and to the extent that any dividend is declared, it will bepaid in compliance with any applicable laws.Liquidity Events:The Company, acting on the advice of its manager, Prosperity CapitalManagement Limited, and taking account of the investment programme ofthe Company and the prevailing conditions of the local markets, willno later than the fifth anniversary of its admission to AIM and eachfollowing anniversary put to the vote of its shareholders the optionof realising the Company's investments and winding up the Company,which the Company would seek to carry out within six months of thedate of such determination.The Company will pursue such option if it is voted for by not lessthan 75% of members voting on theresolution. If such option is not voted for by such majority, theCompany will continue to conduct itsoperations pursuant to its existing investment objective andarrangements.Enquiries:Julian Reid, ChairmanMobile telephone: +44 (0) 7768 068 200Elly Wordsworth, Prosperity Capital ManagementTelephone: +44 (0) 20 7299 6950Tom Franks, KPMG Corporate Finance (Nominated Adviser)Telephone: +44 (0) 20 7311 1000KPMG Corporate Finance, a division of KPMG LLP which is authorisedand regulated by the Financial Services Authority for investmentbusiness activities, is acting for the Company as nominated adviserin relation to the matters set out in this announcement and is notacting for any other person in relation to these matters. KPMGCorporate Finance will not be responsible to anyone other than theCompany for providing the protections afforded to its clients or forproviding advice in relation to the contents of this announcement.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 10.11.2009 - 13:01 Uhr
Sprache: Deutsch
News-ID 8162
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