Publication of Prospectus

 
TIDMAIDU TIDMAIDE 
 
The Aida Fund Limited (the "Company") 
 
25 November 2009 
 
Publication of prospectus 
 
The following Registration Document, Securities Note and Summary Note (together 
the "Prospectus") relating to the Company have been published today: 
 
Registration Document dated 25 November 2009; 
 
Securities Note dated 25 November 2009, relating to placings of up to 
US$250,000,000 (in aggregate) of US dollar shares in the Company (the "Placings 
"); and 
 
Summary Note dated 25 November 2009. 
 
The Securities Note contains the final terms of the Placings and must be read 
in conjunction with the Registration Document and Summary. These three 
documents together constitute a prospectus for the purposes of the Prospectus 
Directive. 
 
The Prospectus has been approved by the UK Listing Authority. 
 
Copies of the Prospectus published today have been submitted to the UK Listing 
Authority and will shortly be available for inspection at the UK Listing 
Authority's Document Viewing Facility which is situated at: 
 
Financial Services Authority 
 
25 The North Colonnade 
 
Canary Wharf 
 
London E14 5HS 
 
Tel. [phone] 
 
The Prospectus is also available on the Company's website in electronic form at 
www.theaidafund.com. 
 
Update on Proposals 
 
Further to the circular to shareholders dated 4 August 2009 and the subsequent 
meetings held on 24 August 2009 shareholders approved a range of proposals to 
restructure the Company (the "Proposals"). Upon publication of the Prospectus, 
set out below is an update as to the Proposals and the anticipated timing in 
relation to their implementation: 
 
Conversion to a single currency class 
 
In accordance with the Proposals the conversion of Sterling and Euro 
denominated shares into US Dollar shares will take place on the basis of 
exchange rates and the net asset values of the Sterling and Euro denominated 
shares prevailing as at 28 August 2009 as set out below: 
 
Sterling to US Dollar: GBP1:1.63111 US$ 
 
Euro to US Dollar: EUR1:1.43735 US$ 
 
US Dollar NAV: US$ 1.6724 
 
Euro NAV: Euro 1.5812 
 
Sterling NAV: GBP1.3685 
 
On the basis of these exchange rates and net asset values a holder of Euro 
denominated shares will receive 1.3590 US Dollar denominated shares for each 
share held and a holder of Sterling denominated shares will receive 1.3347 US 
Dollar shares for each share held. As a result of this conversion, 18,857,682 
US Dollar shares will be allotted. The Company has applied for the listings of 
the Euro and Sterling denominated shares to be cancelled as of 26 November 
2009. 
 
Share split and re-designation 
 
Post conversion to a single currency class, all existing US Dollar shares of 
par value US$0.025 will be subdivided into two US Dollar shares of par value 
US$0.0125 with every other share so created being re-designated as an unlisted 
side-pocket share (each a" "Side-Pocket Share"). Therefore, for every one US 
Dollar share held post conversion to a single currency class, a shareholder 
will hold one listed US Dollar share and one unlisted Side-Pocket Share. 
Approximately 18 per cent. of net assets at the 30 September net asset value of 
the Company will be placed into the side pocket. 
 
Election to receive shares in the Aida Open-Ended Fund 
 
The deadline for the receipt of completed exchange request forms has now 
passed. The Company received valid requests in respect of 5,980,224 Sterling 
shares, 1,948,992 Euro shares and 10,527,772 US Dollar shares representing 
52.25 per cent., 73.96 per cent. and 85.66 per cent. of each respective share 
class. Therefore, pursuant to valid exchange requests, a total of 21,158,236 US 
Dollar shares (including 10,630,464 in respect of converted holdings of 
Sterling and Euro Shares) will be cancelled in exchange for the issue of shares 
in the Aida Open-Ended Fund. 
 
The Company has therefore made an application to admit 8,227,218 US Dollar 
shares to the official list of the UK Listing Authority and to trading on the 
main market for listed securities of the London Stock Exchange plc ("Admission 
"). It is expected that Admission will take effect on 26 November 2009. 
Following the conversion and subsequent cancellation there will be 9,989,284 US 
Dollar shares remaining in issue. 
 
It is expected that shares in the Aida Open-Ended Fund and contract notes 
detailing the relevant exchange ratios will be issued to valid applicants on or 
after the date of this announcement. 
 
Change of name 
 
The proposed change of name of the Company to "The Aida Closed-Ended Fund 
Limited" took effect today. 
 
Illustrative NAVs 
 
The 30 November net asset value will be the first valuation produced for each 
of the Aida Closed-Ended Fund and Aida Open-Ended Fund. 
 
For illustrative purposes, if the reconstruction had taken place on 30 
September 2009 the net asset values per share post the restructuring would have 
been as follows: 
 
Illustratative NAV per share assuming    US Dollar 
that the reconstruction had taken 
place as at 30 September 2009 
 
The Aida Closed-Ended Fund NAV per US     1.3915 
Dollar share 
 
The Aida Closed-Ended Fund NAV per        0.3055 
side-pocket share 
 
The Aida Open-Ended Fund NAV per          1.3915 
ordinary share 
 
The Aida Open-Ended Fund NAV per          0.3055 
side-pocket share 
 
Initial Issue Price of Aida Open-Ended Fund Shares 
 
The initial issue price of the Aida Open-Ended ordinary shares will be US$ 
1.3915. 
 
The initial issue price of Aida Open-Ended side-pocket shares will be US$ 
0.3055. 
 
Timetable 
 
Wednesday, 25 November 2009    Proposals (including elections to exchange 
                               shares in the Aida Closed-Ended Fund for 
                               shares in the Open-Ended Fund) become 
                               effective 
 
Wednesday, 25 November 2009    Shares in the Aida Open-Ended Fund issued to 
                               valid electors 
 
Thursday, 26 November 2009     New US Dollar shares created pursuant to the 
                               conversion to a single currency and not 
                               validly exchanged for shares in the Aida 
                               Open-Ended Fund commence trading 
 
Friday, 12 February 2010       Latest time and date for receipt of redemption 
                               notices for the first Redemption Notice Date 
                               of 31 March 2010 
 
Wednesday, 31 March 2010       First Redemption Notice Date for the Aida 
                               Open-Ended Fund 
 
For further information please contact: 
 
Aida Capital Limited 
 
020 7600 7500 
 
The information in this announcement should be read in conjunction with the 
full text of the Circular to shareholders dated 4 August 2009 and any 
subsequent announcements. Capitalised terms used in this announcement shall, 
unless the context otherwise requires, bear the meaning given to them in the 
Circular. 
 
DISCLAIMER - INTENDED ADDRESSEES 
 
Please note that the information contained in the Securities Note and Summary 
Note (when read in conjunction with the Registration Document) may be addressed 
to and/or targeted at persons who are residents of particular countries 
(specified in the Securities Note, Summary Note and Registration Document) only 
and is not intended for use and should not be relied upon by any person outside 
these countries and/or to whom the offer contained in the Securities Note, 
Summary Note and Registration Document is not addressed. Prior to relying on 
the information contained in the Securities Note, Summary Note and Registration 
Document you must ascertain from the Securities Note, Summary Note and 
Registration Document whether or not you are part of the intended addressees of 
the information contained therein. Your right to access this service is 
conditional upon complying with the above requirement. 
 
10/24629371_1 1 
 
 
 
END