CULS Conversion Price/Placing Results

RNS Number : 3871D

Aberdeen Asian Smaller Co's Inv Tst

15 May 2012

 



15 May 2012

Not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the United States, Canada, Australia, Japan, New Zealand or the Republic of South Africa or any other jurisdiction in which the same would be unlawful.

Aberdeen Asian Smaller Companies Investment Trust PLC (the "Company")

Placing and open offer of £35 million nominal of 3.5 per cent. Convertible Unsecured Loan Stock 2019 at 100p per £1 nominal ("CULS")

Conversion Price and Results of Placing and Open Offer

CULS Conversion Price

The Company announces the Conversion Price of the CULS will be 830p nominal of CULS for one Ordinary Share. This equals a 15 per cent. premium to the unaudited NAV per Ordinary Share (including income) of 725p at 14 May 2012, rounded down to the nearest 5 pence.

Results of Placing and Open Offer

Valid applications under the Open Offer (including the Excess Application Facility) have been received for approximately £9.35 million nominal of CULS, out of up to £17.5 million nominal of CULS available, and will be satisfied in full. Placing commitments are subject to scaling back.

The issue of the CULS is subject to shareholder approval at the general meeting of the Company to be held on 17 May 2012.  Subject to such approval, it is expected that dealings in the CULS will commence at 8:00 a.m. on 18 May 2012.

Enquiries

Matrix
Paul Fincham/Robert Naylor                                      020 3206 7000

Aberdeen Asset Managers Limited
William Hemmings                                                     020 7463 6000

Notes

Matrix Corporate Capital LLP ("Matrix"), which is authorised and regulated in the United Kingdom by the FSA, is acting solely for the Company and for no one else in connection with the Issue and Admission and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Matrix or for affording advice in relation to the Issue, Admission or any other matter referred to in this announcement or the Prospectus. 

Words and expressions defined in the Prospectus have the same meanings when used in this announcement.

 

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