Statement on Woodford Equity Income Feeder Fund

Woodford Equity Income Feeder Fund, a sub-fund of Woodford Funds (Ireland) ICAV (the “Fund”) – temporary suspension of dealing

The Board of Woodford Funds (Ireland) ICAV met today and, due to the suspension in the dealing in the shares of LF Woodford Investment Fund (the “Master Fund”), the Board has taken the decision to temporarily suspend dealing in shares in the Fund with immediate effect and until further notice. We have notified the Central Bank of Ireland of this decision.

The Fund invests in the Master Fund. Dealing in the shares in the Master Fund was suspended on 3 June 2019 with immediate effect and until further notice. This suspension is intended to protect the investors in the Master Fund (including the Fund) by allowing Woodford Investment Management Limited (the “Investment Manager”) time to reposition the element of the Master Fund’s portfolio invested in unquoted and less liquid stocks into more liquid investments, following an increased level of redemptions in the Master Fund.

After consideration of all relevant circumstances relating to the Fund’s assets, in conjunction with the Fund’s Investment Manager, Manager and Depositary, we have decided that, due to the suspension in dealing in the Master Fund, it is in the best interests of all investors in the Fund to suspend the issue, cancellation, sale, redemption and transfer of shares in the Fund.

During the period that share dealing is suspended, no requests to redeem, purchase or transfer shares in the Funds can be accepted.

We will keep all investors appropriately informed about the suspension, including its likely duration, and when the Board of the Fund considers it can resume dealing in the shares of the Fund, we will write to all investors informing them of this fact. We will take all reasonable actions to resume dealing as soon as is possible.

If you have any questions regarding this suspension of dealing, please contact us on 0333 300 0381 or alternatively email us at woodfordoffshore@ntrs.com.

Important information

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