Result of Tender Offer and Tender Price

RNS Number : 8303J

Advance Developing Markets Fund Ltd

17 June 2014

For release on 17 June 2014

Advance Developing Markets Fund Limited

Result of Tender Offer and Tender Price

Further to the announcement made by Advance Developing Markets Fund Limited (the "Company") on 29 May 2014 regarding the publication of a circular explaining the terms of a Tender Offer for up to 10 per cent. of the Shares in issue, the Company today announces the result of the Tender Offer and the Tender Price.

Result of the Tender Offer

A total of 45,252,788 Eligible Shares (being 78.4 per cent. of the Company's Shares in issue as at 7 May 2014) 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 1.3257 per cent. of the excess Shares tendered.

5,769,467 Shares will be repurchased by the Company under the Tender Offer and cancelled, equating to 10 per cent. of the Company's Shares in issue as at 7 May 2014.

It is expected that cheques will be despatched and CREST accounts will be credited with proceeds in respect of successfully tendered Shares and with unsold uncertificated Shares and that the balancing Share certificates and TFE messages in respect of any unpurchased Eligible Shares will be despatched during the week commencing 23 June 2014.

Following the implementation of the Tender Offer the Company will have 51,926,229 Shares in issue (excluding 2,692,278 Shares held in Treasury).

Accordingly, 51,926,229 Shares 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 interests in, the Company under the FCA's Disclosure and Transparency Rules.