HSGU Hsbc Icav Gl Su

    RNS Number : 1019W
  HSBC Global Absolute Limited
  05 June 2008
   

    HSBC Global Absolute Limited
    St Martin's House, Le Bordage, St Peter Port, Guernsey, GY1 4AU


    05th June 2008


    HSBC Global Absolute Limited (the "Company") announces that at the Annual General Meeting of the Company held on 5 June 2008, the
following ordinary resolution was passed: 

    "THAT the Company be authorised in accordance with the Companies (Purchase of Own Shares) Ordinance, 1998 to make market purchases
(within the meaning of section 5 of the said Ordinance) of redeemable participating preference shares designated as US Dollar shares ("US
Dollar Shares") and Sterling Hedged shares ("Sterling Hedged Shares"), provided that the maximum number of US Dollar Shares and Sterling
Hedged Shares hereby authorised to be purchased is 7,206,741 US Dollar Shares and 3,008,267 Sterling Hedged Shares or such other lesser
amounts as shall equal 14.99 per cent. of the US Dollar Shares or Sterling Hedged Shares (as appropriate) in issue as at the date of the
passing of this resolution. The minimum price which may be paid for a US Dollar Share or Sterling Hedged Share is 1p and the maximum price
which may be paid for a US Dollar Share or Sterling Hedged Share shall be limited to an amount which must not exceed the higher of (a) 105
per cent. of the average market value for the 5 Business Days before the purchase is made and, (b) the higher price of the last independent trade and the highest current independent bid price. Such
authority expires at the conclusion of the 2009 annual general meeting of the Company.  The Company may, prior to the expiry of such
authority, enter into a contract to purchase US Dollar Shares or Sterling Hedged Shares under such authority and make a purchase of US
Dollar Shares or Sterling Hedged Shares pursuant to any such contract".

    This authority will be exercised by the Company in order to address any imbalance between the supply of and demand for US Dollar Shares
and Sterling Hedged Shares in the market. Purchases will only be made through the market for cash at prices below the prevailing net asset
value of a US Dollar Share or Sterling Hedged Share where the directors believe such purchases will result in an increase in the net asset
value of the remaining US Dollar Shares or Sterling Hedged Shares and to assist in narrowing any discount or premium to net asset value at
which the US Dollar Shares or Sterling Hedged Shares may trade.
















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