STOCK EXCHANGE ANNOUNCEMENT - FOR IMMEDIATE RELEASE
LYXOR/HAVEN INTERNATIONAL FUND LIMITED
RE: Appointment of an Additional Prime Broker
April 5th, 2012
The Directors of the Fund wish to announce that with effect from February 23rd, 2012 Credit Suisse Securities (USA) LLC has been appointed as prime broker to the Fund in addition to the existing prime brokers (the "Prime Brokers"). The Manager of the Fund will decide how all the assets of the Fund are allocated between the Prime Brokers.
Credit Suisse Securities (USA) LLC
Credit Suisse Securities (USA) LLC ("CSSU") will act as a prime broker and sub-custodian to the Fund pursuant to the terms and conditions of a Customer Agreement, a Prime Brokerage Annex and a Supplement to the Prime Broker Annex (collectively the "CSSU Prime Brokerage Agreement") dated as of February 23rd, 2012 between CSSU, the Fund and the Custodian. CSSU is a part of the Credit Suisse Group and is based in New York, at Eleven Madison Avenue, New York, New York, 10010-3626 with offices worldwide. CSSU will provide prime brokerage services to the Fund under normal commercial terms pursuant to the CSSU Prime Brokerage Agreement which may be terminated by either party in its sole discretion upon giving at least 30 days written notice to the other. Under the CSSU Prime Brokerage Agreement the Fund shall indemnify and hold harmless CSSU, for any reasonable loss, claim, damage or reasonable expense incurred or suffered by, or asserted against CSSU. CSSU shall not be liable to the Fund for any loss, liability or cost suffered or incurred by the Fund as a result of any action or omission unless the loss, liability or cost suffered or incurred by the Fund arises from CSSU's own gross negligence, willful misconduct, bad faith, fraud or breach of the CSSU Prime Brokerage Agreement.
These services will include the provision to the Fund of clearing, settlement and foreign exchange services pursuant to which CSSU or its affiliates will enter into transactions with the Fund on either a principal or agency basis.
CSSU is paid fees, calculated at normal commercial rates, in connection with providing financing to its customers.
In accordance with applicable US law, including but not limited to, the rules and regulations of the US Securities and Exchange Commission, all of the assets of the Fund be held in the name of the Fund and beneficial ownership thereof will be recorded on the books of CSSU as belonging to the Fund. The rules of the US Securities and Exchange Commission (the "SEC") require that CSSU hold all fully-paid and excess margin customer securities either physically or in a control location. To the extent of applicable US law, such securities and other property will not be available to the creditors of CSSU. CSSU is authorised, within the limits of applicable US law, to lend to itself or to others and to pledge, repledge, hypothecate or rehypothecate assets of the Fund which are held as margin, in which event the Fund will only have a right to the return of equivalent assets. CSSU will have a security interest in all securities and other property of the Fund that are held in an account at CSSU or its affiliates to secure the payment and performance by the Fund of its obligations to CSSU and its affiliates.
CSSU may appoint other sub-custodians of the assets of the Fund. CSSU will exercise reasonable skill, care and diligence in the selection of any such sub-custodian and will be responsible to the Fund for satisfying itself as to the ongoing suitability of such other sub-custodian to provide custodian services to the Fund, will maintain an appropriate level of supervision over such other sub-custodian and will make appropriate enquiries periodically to confirm that the obligations of such other sub-custodian continue to be competently discharged.
CSSU has no decision-making responsibility relating to the Fund's investments, which decisions remain the responsibility of the Fund at all times. CSSU has no responsibility for any of the Fund's assets that are not held by CSSU or its affiliates. CSSU and the Fund may not amend the terms of the CSSU Prime Brokerage Agreement except in a writing duly executed on behalf of CSSU and the Fund. CSSU, the Fund and the Custodian may terminate the CSSU Prime Brokerage Agreement upon giving notice in accordance with the terms set forth in the CSSU Prime Brokerage Agreement.
CSSU is a registered broker-dealer with the SEC and is a registered futures commission merchant with the SEC. CSSU has financial resources in excess of US$200 million (or its equivalent in another currency) and as of the date of this document, Credit Suisse Group, the ultimate parent of CSSU, has a credit rating of "A-1" and "P-1" from Standard & Poor's and Moody's respectively for short term debt and "Aa2" and "A" from Moody's and Standard & Poor's respectively, for long term debt.
CSSU has no responsibility for the preparation of this document or the activities of the Fund or its affiliates and accepts no responsibility for any information contained in this document.
+ 1 353 673 1833
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange.