Embattled Absolute Capital Management Holdings is thawing the redemption freeze it put into place last week after its founder resigned and its shares went into a tailspin. The Majorca, Spain-based hedge fund said investors will be permitted to withdraw 30% of their investments in four of its funds.

The firm announced a restructuring after co-founder Florian Homm’s departure, planning to separate the funds’ liquid investments from their illiquid investments, which are to be placed into side pockets.

ACM will permit redemptions “up to an aggregate 30% of their investments in the funds’ liquid share classes on scheduled redemption days over the following 12 months,” it said today. The funds covered by the new arrangement are the Absolute Return Europe Fund, Absolute European Catalyst Fund, Absolute Octane Fund and Absolute East West Fund.

ACM shares have more than dropped 80% since Homm’s shock announcement last week, and nearly 90% since the end of July. The firm’s clients have been no kinder, pulling more than 40% of its assets under management before it suspended redemptions on Sept. 20.