Aberdeen Frontier Mkts Inv Co Ltd Tender Offer Update and Total Voting Rights (7284Z)
March 16 2017 - 10:02AM
UK Regulatory
TIDMAFMC
RNS Number : 7284Z
Aberdeen Frontier Mkts Inv Co Ltd
16 March 2017
Aberdeen Frontier Markets Investment Company Limited
Tender Offer Update, On-sale Shares Result and Total Voting
Rights
16 March 2017
As announced on 14 March 2017, Aberdeen Frontier Markets
Investment Company Limited (the "Company") received valid tender
acceptances of 97,307,392 Ordinary Shares. Numis has sold
13,750,000 of such tendered Ordinary Shares ('On-sale Shares') to
Incoming Investors at the Investment Price of 72.5748 pence per
Ordinary Share and therefore the number of Exit Shares which have
been repurchased for cancellation by the Company is 83,557,392
representing 49.44 per cent of the current Ordinary Shares in issue
excluding shares in treasury. As a result Aberdeen Asset Management
now holds 13,750,000 Ordinary Shares representing 16.09 per cent of
the Ordinary Shares in issue post the tender excluding shares in
treasury.
Tendering Shareholders will receive the full Tender Price in
cash for the Exit Shares (including the On-sale Shares) only once
all of the assets in the Tender Pool have been fully realised.
However, if and when an interim distribution from the Tender Pool
is made, the amount received by Tendering Shareholders will include
an amount in respect of their pro rata proportion of any On-sale
Shares.
The Tender Offer FAV is $73,702,939.
The Tender Price and any interim distributions will be announced
in due course.
Following the Tender Offer the Company has 85,452,608 Ordinary
Shares in issue (excluding shares held in treasury) attributable to
the continuing pool. Henceforth, net asset value calculations
published by the Company will be based on net assets attributable
to the continuing pool divided by the Ordinary Shares in issue
(excluding shares held in treasury) attributable to the continuing
pool.
Total Voting Rights
Following the Tender Offer the total number of Ordinary shares
with voting rights in the Company will be 85,452,608 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.
Terms used and not defined in this announcement shall have the
meaning given to them in the Circular.
The information contained within this announcement is considered
to be inside information prior to its release as defined in Article
7 of the Market Abuse Regulation No. 596/2014 and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations.
16 March 2017
www.aberdeenfrontiermarkets.co.uk
Enquiries:
Aberdeen Fund Managers Limited (Investment Manager to Aberdeen
Frontier Markets Investment Company Limited)
William Hemmings / Gary Jones Tel: +44 (0)20 7463 6000
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett Tel: +44 (0)20 7383 5100
Numis Securities Limited (Nominated Broker)
David Benda Tel: +44 (0) 20 7260 1275
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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