H&Q Healthcare Investors : Announces Renewal of Share Repurchase Program
03/23/2012| 12:15pm US/Eastern
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H&Q Healthcare Investors (NYSE: HQH) (the "Fund") announced today that
the Board of Trustees authorized a renewal of its share repurchase
program. The current share repurchase program allows the Fund to
purchase in the open market up to 12% of its outstanding common shares
for a one-year period ending July 10, 2012. The renewal will allow the
Fund to purchase in the open market up to 12% of its outstanding common
shares for a one year period beginning July 11, 2012. The Board
authorized the share repurchase program as a result of its periodic
review of the options available to enhance shareholder value and
potentially reduce the discount between the market price of the Fund's
shares and the net asset value per share. The share repurchase program
is intended to increase the Fund's net asset value per share and could
also have the benefit of providing additional liquidity in the trading
of shares.
The amount and timing of repurchases will be at the discretion of
Hambrecht & Quist Capital Management LLC, the Fund's investment adviser.
There is no assurance that the Fund will purchase shares at any specific
discount levels or in any specific amounts or on any specific date. The
Fund's repurchase activity will be disclosed in its shareholder report
for the relevant fiscal period. There is no assurance that the market
price of the Fund's shares, either absolute or relative to net asset
value, will increase as a result of any share repurchases. The Board
will monitor the effect of the share repurchase program on the Fund's
market price and net asset value per share, expense ratio and investment
strategy over time.
H&Q Healthcare Investors (NYSE: HQH) is a closed-end fund that invests
in public and private companies in the healthcare industry. Hambrecht &
Quist Capital Management LLC, based in Boston, serves as investment
adviser to the Fund. Shares of the Fund can be purchased on the New York
Stock Exchange through any securities broker.
For additional information, please visit www.hqcm.com
or call (617) 772-8500.
H&Q Healthcare Investors
617-772-8500
www.hqcm.com
© Business Wire 2012
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