Moneda Chile Fund Limited (the “Company” or “Fund”) Advises Intention to Voluntarily Liquidate

Hamilton, Bermuda:  12th, January 2022 –In a filing with the Bermuda Stock Exchange, Moneda Chile Fund Limited (the “Company” or “Fund”) advised its intention to voluntarily liquidate.  The full filing stated.

 

 

Moneda Chile Fund Limited Advises of Resolution to Voluntarily Liquidate

 

At the annual general meeting held on 29 December 2021, and in accordance with the memorandum of association of Moneda Chile Fund Limited (the "Company" or "Fund"), the shareholders of the Company resolved the following:

 

1.     the life of the Company not be extended for an additional period expiring on the date of, and immediately following, the annual general meeting two years thereafter;

 

2.     the Company be voluntarily wound up in accordance with the Companies Act 1981 9the "Act");

 

3.     Mr Vicente Bertrand be appointed liquidator for the purpose of such winding up, such appointment effective immediately (the "Liquidator");

 

4.     the Liquidator be authorized to distribute the surplus assets in specie and/or in cash as the Liquidator may determine;

5.     the Liquidator be authorized to appoint Attorneys-in-Fact to act on the liquidators behalf; and

 

6.     the Liquidator be remunerated for all work reasonably and properly carried out in the winding-up of the Company together with reasonable out-of-pocket expenses and disbursements incurred in connection with the liquidation.

 

In accordance with the Act, the Fund will cease to carry on business except so far as may be required for the beneficial winding up thereof. The Liquidator intends to oversee the orderly liquidation of the Company to include the realisation of the assets of the Fund, the payment of all creditors to the Fund in full and the distribution of the net proceeds to the shareholders.

 

The Fund is a closed-ended fund, shareholders do not have the right to require or demand redemption of their shares. Further, the Directors have resolved as per the Company's Bye-laws, that all subscriptions and any early redemptions are now suspended for the duration of the liquidation period.

 

Valuations will continue to be made on a weekly basis.

 

Due to the recent price volatility of the Company's investments, the Liquidator may determine it is in the best interests of the Company, its shareholders and creditors to hold certain positions to try to optimize their value, if he determines it is preferable and desirable to do so to maximize returns. It is intended to conduct a phased realisation of the Fund's assets, with payments to creditors and distributions to investors made in 20% increments.

 

The Liquidator expects to apply to delist the Fund from the Official List of the Exchange in accordance with the Listing Regulations as soon as is practicably possible and in any event likely before the end of Quarter 3 2022. Copies of the minutes pertaining to the annual general meeting are available at the registered office of the Company at Apex Fund Services Ltd., Vallis Building, 4th Floor, 58 Par-La-Ville Road, Hamilton HM11, Bermuda, or by request to the Company.

 

Enquiries

 

Moneda Chile Fund Limited

 

Isidora Goyenechea 3621

 

Piso 8

 

Las Condes Santiago

 

Chile

 

Tel: +56 223 377 900

 

Email: GerenciaLegal@moneda.cl

 

 

Bermuda Listing Sponsor

 

Apex Fund Services Ltd.

 

Vallis Building, 4th Floor

58   Par-La-Ville Road Hamilton HM11 Bermuda

 

Tel: 441-292-2739

 

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For more information on the Bermuda Stock Exchange (BSX), contact James Best at 1-441-292-7212 or jbest@bsx.com . Information is also available at www.bsx.com and on Bloomberg at BSX.

 

Established in 1971 the Bermuda Stock Exchange (BSX) is the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities.

 

The BSX is a full member of the World Federation of Exchanges (WFE) and is in an O.E.C.D. member nation and an affiliate member of IOSCO. The BSX is recognised by the US SEC as a Designated Offshore Securities Market. In addition, the BSX is recognized by the U.S. Securities & Exchange Commission (SEC) as a Designated Offshore Securities Market under Regulation S; The Financial Services Authority in the UK as a Designated Investment Exchange; HM Revenue & Customs in the UK as a Recognized Stock Exchange; The Bermuda Monetary Authority as a Recognised Investment Exchange; and as an Approved Stock Exchange under Australia’s Foreign Investment Funds (FIF) taxation rules; and Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.

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