The New Ireland Fund (NYSE: IRL) has successfully completed its liquidation process as of March 31, 2023, in accordance with its previously approved Plan of Liquidation.
The Fund returned a liquidating distribution of $10.43 per share to its stockholders. This distribution is based on the net asset value determined as of the close of business on February 28, 2023. Stockholders are advised to consult a tax professional to understand any potential gains or losses resulting from this liquidation.
KBI Global Investors, based in Dublin, manages the Fund, which is majority-owned by Amundi Asset Management.
The New Ireland Fund, Inc. (NYSE: IRL) announced the approval of its liquidation and dissolution plan at a special stockholder meeting on January 5, 2023. The close of business on February 28, 2023, will determine stockholders eligible for liquidating distributions. The Fund's last trading day on the NYSE is anticipated to be around February 27, 2023, after which there will be no secondary market for its shares.
Until the Valuation Date, the Fund's portfolio will be liquidated, and no future dividends will be declared.
The Board of Directors of The New Ireland Fund has declared an annual capital gain distribution of $0.2003 per share, to be paid in cash on December 30, 2022, to shareholders on record by December 23, 2022. The shares will be ex-dividend on December 22, 2022. The Fund focuses on long-term capital appreciation through investments primarily in Irish equity securities. Managed by KBI Global Investors, a subsidiary of Amundi Asset Management, the Fund is traded on the NYSE under the ticker IRL.
The New Ireland Fund (NYSE: IRL) announced a proposal to liquidate its assets and dissolve the Fund, pending stockholder approval at a special meeting in January 2023. The decision is based on the Fund's current asset level, expenses, and discount to net asset value. If approved, the Fund will distribute net proceeds to stockholders after selling its assets. Stockholders are encouraged to read the definitive proxy materials that will be filed with the SEC, as they will provide important details regarding the liquidation process.
The New Ireland Fund (NYSE: IRL) announced the re-election of David Dempsey as a Class II Director for a three-year term at its Annual Meeting on June 14, 2022. The Fund aims for long-term capital appreciation, investing at least 80% of its assets in Irish equity securities. Managed by KBI Global Investors, which is a subsidiary of Amundi Asset Management, the Fund emphasizes a diversified investment approach.
BOSTON, March 01, 2022 – The New Ireland Fund, Inc. (NYSE: IRL) hosted a webinar featuring Portfolio Manager Noel O’Halloran and Chief Economist Eoin Fahy from KBI Global Investors. They discussed the current state and outlook of the Irish economy and stock market, emphasizing key drivers that could positively influence the Fund. The New Ireland Fund aims for long-term capital appreciation primarily through investments in Irish equities. More details are available on the Fund’s website.
The New Ireland Fund, Inc. (N.Y.S.E. - IRL) declared an annual net investment income distribution of $0.0011 per share, a short-term capital gain distribution of $0.2527 per share, and a long-term capital gain distribution of $2.0281 per share. These distributions are payable in cash on January 4, 2022, to stockholders of record as of December 24, 2021. The shares will be traded ex-dividend on December 22, 2021. The Fund, managed by KBI Global Investors, aims for long-term capital appreciation through investments in Irish equities.
The New Ireland Fund, Inc. (NYSE: IRL) has announced a renewal of its share repurchase program, allowing for the buyback of up to 5% of outstanding shares until October 31, 2022. This initiative aims to enhance shareholder value by potentially increasing the net asset value per remaining share. The timing and amount of repurchases will depend on market conditions, and there is no guarantee of a price increase as a result. The Fund, managed by KBI Global Investors, focuses on long-term capital appreciation through investments in Irish securities.
The New Ireland Fund (NYSE: IRL) has completed a tender offer to purchase 25% of its outstanding shares, which expired on May 13, 2021. The Fund accepted 1,213,300 shares at a price of $14.78 each, reflecting 98% of its net asset value as of May 14, 2021. Approximately 3,043,351 shares, or 62.71% of the issued shares, were tendered. Consequently, approximately 39.87% of each stockholder's tendered shares will be accepted for payment, marking an update from the previous announcement on May 14, 2021.
The New Ireland Fund (NYSE: IRL) announced the preliminary results of its recent tender offer that concluded on May 13, 2021. The purchase price for shares tendered is set at 98% of the net asset value (NAV), amounting to $14.78 per share as of May 14, 2021. Out of the 4,853,202 outstanding shares, approximately 3,060,731 shares were validly tendered. Due to the high number of tenders, shares will be accepted on a pro-rata basis, with an acceptance ratio of about 88.39%. The Fund aims for long-term capital appreciation through investments in Irish equity and fixed income securities.