The New Ireland Fund, Inc. Announces Results of Special Meeting of Stockholders: Proposal to Liquidate and Dissolve the Fund is Approved
The New Ireland Fund, Inc.BOSTON, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The New Ireland Fund, Inc. (NYSE: IRL) (the "Fund") announced today the results of the votes cast at the special meeting of…
BOSTON, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The New Ireland Fund, Inc. (NYSE: IRL) (the "Fund") announced today the results of the votes cast at the special meeting of stockholders held on January 5, 2023, where stockholders approved the liquidation and dissolution of the Fund pursuant to a Plan of Liquidation.
The Fund has fixed the close of business on February 28, 2023 as the date for determining the stockholders of the Fund that will be entitled to receive liquidating distributions (the 'Valuation Date'). The proportionate interests of stockholders in the assets of the Fund will be fixed on the basis of their respective holdings at the close of business on the Valuation Date. It is anticipated that one or more liquidating distributions will begin being paid after the Valuation Date. The Fund expects its last trading day on the New York Stock Exchange ('NYSE') to be on or about February 27, 2023, after which time there will be no secondary market for the Fund's shares.
Until the Valuation Date, the Fund is expected to deviate from its investment objective and investment policies as the Fund's portfolio will be managed in anticipation of the liquidation and the Fund's portfolio securities will be sold. In addition, the Fund will not declare any future dividends as a result of the pending liquidation.
The Fund is managed by KBI Global Investors (North America) Ltd, a wholly owned subsidiary of KBI Global Investors Ltd. based in Dublin, Ireland. KBI Global Investors Ltd. is majority owned by Amundi Asset Management, Europe's largest asset manager by assets under management.
The Fund is listed on the New York Stock Exchange under the ticker symbol - IRL. For further information, please contact the Fund at 1-800-468-6475 or EMAIL