World Markets AG

DGAP-News: World Markets AG : Agreements with F.I.T. Timber Growth Fund

World Markets AG   / Key word(s): Agreement

28.11.2013 14:25

Dissemination of a Corporate News, transmitted by DGAP - a company of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this


World Markets AG (4WM, ISIN CH0039402646) is an investor in F.I.T. Timber
Growth Fund Limited (FIT TGF, Valor 1217354, ISIN VCP4170W1089). 4WM is
also the owner of F.I.T. Management Limited (FITML), which provides
investment advisory services to FIT TGF. Since March 2013, 4WM has extended
over CHF 19 million in loans to F.I.T. Timber Limited (FIT Timber), a
subsidiary of FIT TGF, under a Loan Facility Agreement.

Along with other shareholders of FIT TGF, 4WM received a copy of the FIT
Timber letter dated 18th October 2013. The letter sets out the business
plan and funding requirements for both FIT Timber and FIT TGF.

On 12 November 2013 the Board of Directors of 4WM approved a set of actions
to support the development of FIT TGF and FIT Timber's fundraising efforts.

On 28 November 2013 two contracts were signed:

a)  Mutual Termination of the Fund Management Agreement between FITML and
FIT TGF, as of 31 October 2013, in order to reduce the operational expenses
of FIT TGF. Under this contract unpaid management fees will be partially
converted into loans due in 2018 and partially paid in FIT TGF shares. A
severance payment will be reduced by 20% and settled in FIT TGF shares as
well, according to the original agreement.

b)  Amendment of the Loan Facility between 4WM and FIT Timber, in order to
reduce the financial expenses of FIT Timber, setting the interest rate at
7% and the repayment for 2018.

An update of the FIT TGF situation will be provided during the next
Extraordinary General Meeting, to take place on 19 December 2013
(invitation available at, or beforehand if required.


Language:     English
Company:      World Markets AG
              c/o IFIT Fund Services AG, Rothusstrasse 21
              6331 Hünenberg
Phone:        0041 41 500 0848
Fax:          0041 41 500 0849
ISIN:         CH0039402646
WKN:          A0NJ8B
Listed:       Frankfurt in Open Market (Entry Standard)

End of Announcement                             DGAP News-Service



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