The New Ireland Fund, Inc. Announces Tender Offer
New Ireland Fund, Inc (The) (IRL)
US:NYSE Investor Relations:
newirelandfund.com
Company Research
Source: GlobeNewswire
BOSTON, April 05, 2021 (GLOBE NEWSWIRE) -- The New Ireland Fund, Inc. (NYSE: IRL) (the “Fund”), a closed-end fund, announced today that the Fund’s Board of Directors has approved a cash tender offer for up to 25% of the Fund’s outstanding shares of common stock (“Shares”) at a price equal to 98% the Fund’s net asset value (“NAV”) per Share, as determined by the Fund as of the close of the regular trading session on the New York Stock Exchange on the business day immediately following the expiration date of the tender offer. The commencement of the tender offer will be announced at a later date, but will be no later than Tuesday, April 20th, 2021. The Fund will repurchase Shares tendered and accepted in the tender offer in exchange for cash. In the event the tender offer is oversubscribed, Shares will be repurchased on a pro rata basis. The commencement of the tender offer is pursuant to a Compromise and Standstill Agreement (the “Standstill Agreement”) between the Fund and Bulldog
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