Result of Issue and Total Voting Rights

RNS Number : 9302Q

Aberdeen Asian Income Fund Limited

12 November 2012

 



12 November 2012

ABERDEEN ASIAN INCOME FUND LIMITED
(THE "COMPANY")

RESULT OF EQUITY ISSUE AND TOTAL VOTING RIGHTS

Result of Equity Issue

The Company published a prospectus on 22 October 2012 setting out the terms of a placing and offer for subscription of up to 50,000,000 C Shares at an issue price of 100p per C Share (the "Prospectus").

The Board is pleased to announce that commitments to apply for 43,809,271 C Shares pursuant to the Placing and applications to subscribe for 16,190,729 C Shares pursuant to the Public Offer have been received.  Accordingly, the Issue is over-subscribed.  As stated in the Prospectus, the Directors reserved the right to increase the number of C Shares available pursuant to the Issue.  In light of the substantial demand through the Public Offer, including a large number of new private investors in the Company, and following consultation with a number of existing and new institutional investors, the Board has decided to increase the maximum number of C Shares available for issue to 60,000,000.

The Issue remains conditional on, in particular, the resolutions adopting the New Articles and authorising the issue of the C Shares being passed at the extraordinary general meeting of the Company convened for 9.00 a.m. on Thursday, 15 November 2012 (or at any adjournment of that meeting).

Applications have been made for the C Shares to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's Main Market.  Subject to the Issue becoming unconditional (save for such admissions), such admissions are expected to become effective, and dealings in the C Shares on the Main Market are expected to commence, at 8.00 a.m. on Friday, 16 November 2012.

The ISIN of the C Shares is GB00B841RZ84 and the TIDM of the C Shares is AAIC.

C Shares issued in uncertificated form are expected to be credited to the relevant CREST accounts by 8.00 a.m. on Friday, 16 November 2012 and certificates for C Shares issued in certificated form are expected to be despatched during the week commencing Monday, 19 November 2012.

The Company intends to publish a daily NAV for the C Shares and will make a further announcement in due course setting out the Conversion Ratio to be applied in converting the C Shares into Ordinary Shares, the record date of this Conversion and any dividends which may be payable to C Shareholders in advance of the Calculation Date.

Total Voting Rights

Following Admission, which is expected to take effect at 8.00 a.m. on Friday, 16 November 2012, the Company's share capital will consist of 151,182,346 Ordinary Shares and 60,000,000 C Shares.  On a poll at a general meeting of the Company, each Ordinary Share confers, and each C Share will confer, the right to one vote.  Accordingly, the total number of voting rights will be 211,182,346 on Admission.

The above figure (211,182,346) may be used by investors as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of 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	Aberdeen Asset Managers Limited	020 7463 6295

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.

Words and expressions defined in the Prospectus dated 22 October 2012 have the same meanings when used in this announcement.

 

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