The board of the RIF investment fund announced that it has asked the Prague Stock Exchange for delisting as of September 27 (this would be the last trading day). RIF has also asked a regional commercial court to delete its entry in the commercial register as of October 14. If deleted as requested, the fund would convert into an open-end fund on that date (October 14). The board envisages that RIF unit holders would be able to withdraw their funds (or buy new units) six working days after the fund is deleted from the commercial register. An EGM, scheduled for October 17, would be canceled if RIF is deleted from the commercial register by that date.
The above news was released after trading closed yesterday. RIF closed at CZK 1,420 on Monday; its per-share NAV stood at CZK 1,600 at the end of last week, implying a discount of some 11%. The fund’s opening conditions are a 6% initial redemption fee, which will be reduced by 1% each month.