C Share Conversion Ratio and Timetable

RNS Number : 1885W

Aberdeen Asian Income Fund Limited

23 January 2013

 



23 January 2013

ABERDEEN ASIAN INCOME FUND LIMITED
(THE "COMPANY")

C SHARE CONVERSION RATIO, ADMISSION OF ORDINARY SHARES
AND TOTAL VOTING RIGHTS

Further to its announcement on 5 December 2012, Aberdeen Asian Income Fund Limited is pleased to announce the following information in relation to the Conversion of its C Shares.

Conversion Ratio for C Shares

The net asset values attributable to the Ordinary Shares and the C Shares as at the Calculation Date, being the close of business on 11 January 2013, were 206.2051361p per share and 105.0082143p per share respectively.  The NAVs have been calculated including income and after providing for, in the case of the Ordinary Shares, the fourth interim dividend declared on 10 January 2013 and payable to holders of Ordinary Shares on the register at the close of business on 18 January 2013.  For the avoidance of doubt, no dividend will be paid in respect of the C Shares.

The Conversion Ratio, as calculated in accordance with the Company's prospectus dated 22 October 2012 (the "Prospectus"), is 0.5092 Ordinary Shares for every one C Share held as at close on the conversion record date of 1 February 2013.  On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 509 Ordinary Shares ("New Shares") upon Conversion.  Entitlements to New Shares will be rounded down to the nearest whole share.  Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.

The New Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares already in issue, including all dividends declared in respect of the Ordinary Shares after the Calculation Date.

Further details of Conversion and the rights attaching to the C Shares are set out in the Prospectus (terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined).

Admission to the Official List and to trading on the London Stock Exchange

On the basis of the Conversion Ratio, applications will be made to the UK Listing Authority for 30,552,000 New Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on its Main Market.  It is expected that such admissions will become effective, and that dealings in the New Shares will commence, on 4 February 2013.

The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8:00 a.m. on 4 February 2013.

Expected Timetable

The expected timetable for Conversion is as follows:

Record date for Conversion and C Share register closes	6.00 p.m. on 1 February 2013
Conversion Date and dealings in New Shares commence	8.00 a.m. on 4 February 2013
CREST accounts credited with New Shares in uncertificated form	4 February 2013
Share certificates in respect of New Shares in certificated form dispatched	Week commencing 11 February 2013

Voting Rights and Capital

Effective from 4 February 2013, the Company's share capital will consist of 181,734,346 Ordinary Shares.  On a poll at a general meeting of the Company, each Ordinary Share confers the right to one vote.  Accordingly, the figure of 181,734,346 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 under the FSA's Disclosure and Transparency Rules.

Enquiries

Sue Inglis/ Chris Whittingslow	Cantor Fitzgerald Europe	020 7894 8016/ 020 7894 8276
Gary Jones/ Charles Mearns	Aberdeen Asset Managers Limited	020 7463 6000/ 0131 528 4132

Notes

Cantor Fitzgerald Europe, which is authorised and regulated in the United Kingdom by the FSA, is acting solely for Aberdeen Asian Income Fund Limited and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Aberdeen Asian Income Fund Limited for providing the protections afforded to clients of Cantor Fitzgerald Europe or for providing advice in relation to the matters referred to in this announcement.

 

END

 

 

MSCPGUQGGUPWGUW