Update regarding FPIL Glanmore Property fund (P27)
21 August 2012
Further to our update last month, FPIL have been advised by The Glanmore Property Fund Limited that the EGM will take place on 18 September 2012.
The Proposal for the EGM is that the redemption postponement period is extended from 48 months to 72 months, although the Directors intend to apply the redemption postponement period for so long as the Fund has facilities in place with its lenders.
The Glanmore Directors believe, given the market constraints and current market conditions that this represents the best available option for the Fund and its shareholders. Please note that this Proposal is dependent on being passed at the EGM in September. Once the outcome of the EGM is known, FPIL will provide their customers with investments in P27 Glanmore Property fund with a further update.
As soon as any further details are available we will provide you with an update, but if you have any queries in the meantime, please contact our Unit Linked Investments Department.