The New Ireland Fund, Inc. (NYSE: IRL) announced a cash tender offer to repurchase up to 25% of its outstanding shares at 98% of the net asset value per share. This decision follows a Compromise and Standstill Agreement with Bulldog Investors LLP, who has committed to adhering to the Board's recommendations during this period. The tender offer's commencement will be announced by April 20, 2021, and details will be provided in subsequent public announcements. The Fund is managed by KBI Global Investors, a subsidiary of Amundi Asset Management.
The New Ireland Fund (NYSE: IRL) provides an update on the Irish economy and stock market in a recent webinar featuring Noel O’Halloran and Eoin Fahy from KBI Global Investors. They discuss key economic drivers and the potential positive impacts of Brexit on the Fund. The Fund aims for long-term capital appreciation primarily through investments in Irish equity securities and is managed by KBI Global Investors, a subsidiary of Amundi Asset Management.
The New Ireland Fund, Inc. has announced an annual short-term capital gain distribution of $0.0675 per share and an annual long-term capital gain distribution of $0.2377 per share. These distributions will be paid in cash on December 30, 2020, to stockholders of record on December 18, 2020. The shares will trade 'ex-dividend' on December 17, 2020. The Fund focuses on long-term capital appreciation through investments primarily in Irish equity securities and is managed by KBI Global Investors, a subsidiary of Amundi Asset Management.
The New Ireland Fund (NYSE: IRL) announced the renewal of its share repurchase program, allowing the buyback of up to 5% of outstanding shares from November 1, 2020, until October 31, 2021. This move aims to enhance shareholder value by potentially increasing the net asset value per share through repurchases made at discounts. The timing and amount of repurchases will depend on market conditions, but there is no guarantee of share price increments as a result of this program.
The New Ireland Fund (NYSE: IRL) announced its annual stockholders' meeting scheduled for June 9, 2020, at 9 a.m. ET, to be held virtually due to COVID-19. Only stockholders of record as of May 4, 2020 can participate. The meeting will include the election of one director. As a closed-end non-diversified investment company, the Fund aims for long-term capital appreciation through investments in Irish securities, managing at least 80% of its assets in this portfolio.