VANCOUVER, Nov. 7, 2013 /CNW/ - (TSXV: PTF) Pender Growth Fund (VCC) Inc. (the "Fund") is pleased to announce that the sale of its largest portfolio holding, Radiant Communications, has completed at a price of $1.43 per share, for aggregate proceeds to the Fund of $3.8 million.
The Fund will use all of these proceeds to honour outstanding redemptions. All redemption requests submitted in 2011 will be honoured as to 100% and redemption requests submitted in 2012 will be honoured as to 50%. Pender expects to process these redemptions on or around November 30, 2013.
The remaining portion of the 2012 redemptions will be honoured as soon as another liquidity event takes place that nets sufficient proceeds to the Fund. Although we cannot predict when this event will take place, several of the Fund's investments could be sold within the next 12 months.
We remind those shareholders who purchased shares at any time prior to February 28, 2009 that they are now eligible to submit redemption requests. All those who submit requests to Pender on or before November 30, 2013 will be included in the 2013 tranche. Those who submit requests after such date will be included in a later tranche.
On behalf of:
Pender Growth Fund (VCC) Inc.
"J. Kelly Edmison"
SOURCE: Pender Growth Fund (VCC) Inc.
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