This Amendment No. 8 to Schedule 13D (this “Amendment No. 7”) should be read in conjunction with the Schedule 13D filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 11, 2011 (the “Original Schedule 13D”), with Amendment No. 1 to Schedule 13D filed with the SEC on October 12, 2011 (“Amendment No. 1”), and with Amendment No. 2 to Schedule 13D filed with the SEC on October 31, 2011(“Amendment No. 2”), and Amendment No. 3 to Schedule 13D SEC on December 8, 2011 (“Amendment No. 3”), Amendment No.4 to Schedule 13D SEC on June 8, 2012 ( “Amendment No. 4”), Amendment No.5 to Schedule 13D SEC on June 15, 2012 ( “Amendment No. 5”), Amendment No.6 to Schedule 13D SEC on September 28, 2012 ( “Amendment No. 6”) and Amendment No.7 to Schedule 13D SEC on October 29, 2012 ( “Amendment No. 7”). This Amendment No.8 amends Items 3 and 5 of the Original Schedule 13D. All other information in the Original Schedule 13D remains in effect. All capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Original Schedule 13D.
Item 3. Source and Amount of Funds or Other Considerations.
Beneficial ownership of the Shares to which this statement relates was acquired by the Reporting Persons with invested capital of the City of London Funds and the Segregated Accounts. The aggregate purchase price of the 8,643,814 Shares beneficially owned by the Reporting Persons was $100,623,596, inclusive of brokerage commissions. The aggregate purchase price of the 909,270 Shares owned directly by BMI was $11,440,035, inclusive of brokerage commissions. The aggregate purchase price of the 910,048 Shares owned directly by EWF was $10,241,975, inclusive of brokerage commissions. The aggregate purchase price of the 910,799 Shares owned directly by FREE was $10,863,548, inclusive of brokerage commissions. The aggregate purchase price of the 910,967 Shares owned directly by GEM was $9,903,506, inclusive of brokerage commissions. The aggregate purchase price of the 6,003 Shares owned directly by GFM was $68,541, inclusive of brokerage commissions. The aggregate purchase price of the 847,950 Shares owned directly by IEM was $9,709,351, inclusive of brokerage commissions. The aggregate purchase price of the 112,238 Shares owned directly by PLUS was $1,309,185, inclusive of brokerage commissions. The aggregate purchase price of the 4,036,539 Shares owned directly by the Segregated Accounts was $47,087,450, inclusive of brokerage commissions.
Item 5. Interests in Securities of the Issuer.
| (a) | and (b). As of the date hereof, CLIG, through its control of CLIM, and CLIM, in its capacity as investment adviser to the City of London Funds and the Segregated Accounts, have voting and dispositive power with respect to all 8,643,814 Shares owned directly by the City of London Funds and the Segregated Accounts, representing approximately 35.6% of the 24.268 million Shares outstanding as of 11-13-2012, as reported by the Fund on their web site. As of the date hereof, BMI, EWF, FREE, GEM, GFM, IEM, PLUS and the Segregated Accounts owned directly 909,270, 910,048, 910,799, 910,967, 6,003, 847,950, 112,238 and 4,036,539 Shares, respectively, representing approximately 3.75%, 3.75%, 3.75%, 33.75%, 0.02%, 3.49%, 0.46% and 16.6%, respectively, of the 24.268 million Shares outstanding as of 11-13-2012, as reported by the Fund on their web site. |
The resulting ownership in excess of 3% of the outstanding voting shares of the Fund by BMI, EWF, FREE, GEM, and IEM, respectively, resulted from a tender instituted by the Fund which had the effect of reducing the total amount of the Fund's voting shares outstanding, and not as a result of a direct purchase or acquisition of Fund shares by BMI, EWF, FREE, GEM, and IEM.
Such ownership in excess of 3% of the Fund's shares by BMI, EWF, FREE, GEM, and IEM is therefore specifically exempted from Section 12(d)(1)(A) of the Investment Company Act of 1940.
| (c). | Information with respect to all transactions in the Shares beneficially owned by the Reporting Persons that were effected during the past 60 days is set forth below: |
N / A
| (d). | Other than disclosed herein, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such Shares. |
