To resolve the Lehman Brothers Mini-bond Series incident at an earlier date in the best interests of all parties concerned, this Authority has been, together with our Macao distributors, endeavouring in all respects culminating in settlements between some affected investors and distributors. The 16 Hong Kong distributor banks have now unanimously agreed to repurchase these investment instruments from eligible investors. The repurchase proceeds will be equivalent to 60% or 70%, as the case may be, of originally invested capital. In the event that the realized value of the collaterals involved differs from the proceeds arising from aforementioned calculations, investors will be entitled to additional sums according to proposal. The 4 Macao distributor banks of the Lehman Brothers Mini-bond Series have agreed to follow suit. Investors who have come to terms with the banks shall be entitled to the difference between the amounts they have received and the amounts stipulated in the proposal. The banks involved will liaise with clients shortly with a view to arranging the repurchase. This Authority welcomes the proposal and the proactive action of our Macao distributor banks and deems that it has fully taken into consideration the interests of both the banks and investors involved and looks forward to a smooth implementation of the proposal.
