Aberdeen Emerging Markets Inv Co Ld Results of Tender Offer and Tender Price (0772L)
April 16 2018 - 9:58AM
UK Regulatory
TIDMAEMC
RNS Number : 0772L
Aberdeen Emerging Markets Inv Co Ld
16 April 2018
ABERDEEN EMERGING MARKETS INVESTMENT COMPANY LIMITED ("AEMC" or
the "Company")
Legal Entity Identifier (LEI): 213800RIA1NX8DP4P938
Results of Tender Offer and Tender Price
Tender Offer
Further to the announcement of the proposed Tender Offer on 19
February 2018, the Board of Aberdeen Emerging Markets Investment
Company Limited announces that a total of 41,804,580 Shares, being
81.7 per cent. of the Company's Shares in issue (excluding treasury
shares) as at 20 February 2018, were validly tendered under the
Tender Offer. As a result, the Tender Offer was oversubscribed. The
Basic Entitlement of all Shareholders who have validly tendered
their Shares will be accepted in full and excess tenders will be
satisfied to the extent of approximately 1.12 per cent. of the
excess Shares tendered.
A total of 5,119,633 Shares will be repurchased by the Company
on 17 April 2018 under the Tender Offer and held in treasury. It is
expected that payments will be made in respect of successfully
tendered Shares during the week commencing 23 April 2018.
Following the implementation of the Tender Offer the Company
will have 54,618,507 Shares in issue (including 8,571,411 Shares
which will be held in treasury and for which the exercise of voting
rights will be suspended). The total number of Shares with voting
rights in the Company will be 46,047,096 and this figure may be
used by Shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company.
Tender Price
The Company's unaudited Net Asset Value as at close of business
on 12 April 2018, being the Calculation Date for the purposes of
the Tender Offer, was 676.32 pence per Share. Accordingly the
Tender Price, calculated in accordance with the Circular sent to
Shareholders on 13 March 2018, is 652.6487 pence per Share.
Terms used and not defined in this announcement bear the meaning
given to them in the Circular published by the Company dated 13
March 2018.
Enquiries:
Aberdeen Fund Managers Limited (Alternative Investment Fund
Manager to the Company)
William Hemmings / Jonathon McManus Tel: +44 (0)20 7618 1444
Stockdale Securities Limited (Financial adviser and broker to
the Company)
Robert Finlay / Rose Ramsden Tel: +44 (0)20 7601 6115
This information is provided by RNS
The company news service from the London Stock Exchange
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