Aberdeen Frontier Mkts Inv Co Ltd Tender Offer and Tender Price (5910E)
October 19 2018 - 2:16AM
UK Regulatory
TIDMAFMC
RNS Number : 5910E
Aberdeen Frontier Mkts Inv Co Ltd
19 October 2018
19 October 2018
Aberdeen Frontier Markets Investment Company Limited (the
"Company")
LEI: 213800X9N731I4IPK361
Results of Tender Offer and Tender Price
Tender Offer
Further to the announcement of the proposed Tender Offer on 17
September 2018, the Board of Aberdeen Frontier Markets Investment
Company Limited announces that a total of 51,026,065 Shares, being
60.3% of the Company's Shares in issue (excluding treasury shares)
as at 15 October 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 4.61% of the excess Shares
tendered.
A total of 12,689,991 Shares has been repurchased by the Company
today under the Tender Offer and cancelled. The total value of
Shares purchased is GBP6,693,970. It is expected that assured
payment obligations for uncertificated Shares will be created by 26
October 2018 and that cheques will be dispatched in respect of
successfully tendered certificated Shares during the week
commencing 29 October 2018.
Following the implementation of the Tender Offer the Company
will have 73,212,617 Shares in issue (including 1,302,500 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 71,910,117 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 17 October 2018, being the Calculation Date for the purposes of
the Tender Offer, was 70.59 cents per Share (53.82 pence).
Accordingly the sterling Tender Price, calculated in accordance
with the Circular sent to Shareholders on 19 September 2018, is
52.75 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 19
September 2018.
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.
Enquiries:
Aberdeen Fund Managers Limited (Alternative Investment Fund
Manager to the Company)
William Hemmings/Stuart Reid
Tel: +44 (0)20 7463 6000
Numis Securities Limited (Nominated Broker)
David Benda
Tel: +44 (0)20 7260 1275
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett
Tel: +44 (0)20 7383 5100
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TENEAXENFFSPFEF
(END) Dow Jones Newswires
October 19, 2018 03:16 ET (07:16 GMT)
Aberdeen Frontier Market... (LSE:AFMC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Aberdeen Frontier Market... (LSE:AFMC)
Historical Stock Chart
From Oct 2023 to Oct 2024