PGC
23/07/2015 15:51
GENERAL
NOT PRICE SENSITIVE
REL: 1551 HRS Pyne Gould Corporation Limited
GENERAL: PGC: Torchlight Fund legal action
NZX ANNOUNCEMENT
23 July 2015
Torchlight Fund legal action
Pyne Gould Corporation ("PGC") said today that Torchlight Fund LP ("TFLP") is
vigorously defending itself in a legal action taken in the Cayman Islands,
where the fund is domiciled.
TFLP is a private equity fund investing in long term assets and was designed
for long term investors.
A small number of limited partners are seeking early exit from the TFLP
partnership and liquidity for their investment. They are petitioning to have
TFLP wound up prior to fund termination date.
The general partner believes this is an ill considered and meritless action
which has no prospect of success.
Given this matter is before the courts, PGC does not consider it appropriate
to make detailed comments in respect of this matter, however, the press
reporting to date is considered inaccurate and misleading.
Until the case is concluded, PGC will not make any further comment.
For more information, please contact: David Lewis +64 21 976 119
End CA:00267364 For:PGC Type:GENERAL Time:2015-07-23 15:51:45
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