IRF Irf European Finance Investments Ltd

 

TIDMIRF 
 
RNS Number : 9871R 
IRF European Fin Investments Ltd 
08 May 2009 
 
 
 
+------------------------------------------+------------------------------------------+ 
| Press Release                            |                               8 May 2009 | 
+------------------------------------------+------------------------------------------+ 
 
 
 
 
IRF European Finance Investments Ltd 
 
 
("IRF" or the "Company") 
 
 
Notice of Special General Meeting - Reduction of Share Premium 
 
 
IRF European Finance Investments Ltd. announces that it will hold a special 
general meeting on 21 May 2009 at the offices of the Investment Bank of Greece 
S.A., Ground Floor - Auditorium, Kifissias Avenue 24-A, 151 25 Marousi, Greece 
at 6 p.m. Greek time (12 p.m. Bermuda time) to seek shareholder approval for 
reducing part of the Company's share premium. 
 
 
The Company believes it is appropriate to make periodic distributions to its 
shareholders.  Notwithstanding the Company having sufficient cash reserves to 
distribute funds to its shareholders, Bermuda law restricts the Company from 
currently declaring a dividend. Therefore, the Company's board of directors has 
determined that it would be in the best interests of its shareholders to propose 
a reduction of the Company's share premium account and to make a payment to its 
shareholders in connection therewith. The reduction of share premium is 
conditional upon shareholder approval and compliance with the Bermuda Companies 
Act. 
 
 
It is proposed that IRF's share premium account be reduced from 
US$520,344,639.17 to US$495,378,160.37, enabling an amount of US$0.20 per common 
share to be paid to holders of the Company's common shares. Any reduction will 
take effect on 26 May 2009. Payment would be made to shareholders of record on 8 
May 2009, with payment expected on 9 June 2009. 
 
 
Notice convening this special general meeting is being posted today to the 
Company's shareholders and, for information purposes, to its warrant holders. 
Copies of the notice are available, free of charge, from the Company's 
registered office at Canon's Court, 22 Victoria Street, Hamilton, HM12, Bermuda 
until the conclusion of the special general meeting. 
 
 
A copy of the notice can be found on our website (www.irf-finance.com). 
 
Information: 
 
 
For further information, please contact: 
 
 
IRF European Finance Investments Ltd 
Angeliki Frangou, Chairperson     Tel: +30 210 428 0560 
Sheldon M. Goldman    Tel: +1 212 404 5740 
 
 
About IRF 
 
 
IRF's principal investment strategy is to seek investment opportunities in 
global financial institutions, with a complementary focus on investments in 
distressed opportunities in other industries. The Company was initially listed 
on AIM until 19 January 2009 when it transferred to the SFM (Specialist Fund 
Market), both markets operated by the London Stock Exchange plc. The Company's 
registered office is at Canon's Court 22 Victoria Street, Hamilton HM12, 
Bermuda. 
 
 
Forward-looking statements 
 
 
All statements, other than statements of historical fact, included in this 
release are forward looking statements within the meaning of the Private 
Securities Litigation Reform Act of 1995. These statements are based upon 
current expectations and are subject to a number of risks, uncertainties and 
assumptions that could cause actual results to differ materially from those 
described in the forward-looking statements. IRF assumes no obligation and 
expressly disclaims any duty to update the information contained herein except 
as required by law. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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