Results of Tender Offer and Tender Price

RNS Number : 0772L

Aberdeen Emerging Markets Inv Co Ld

16 April 2018

 

ABERDEEN EMERGING MARKETS INVESTMENT COMPANY LIMITED ("AEMC" or the "Company")

Legal Entity Identifier (LEI): 213800RIA1NX8DP4P938

Results of Tender Offer and Tender Price

Tender Offer

Further to the announcement of the proposed Tender Offer on 19 February 2018, the Board of Aberdeen Emerging Markets Investment Company Limited announces that a total of 41,804,580 Shares, being 81.7 per cent. of the Company's Shares in issue (excluding treasury shares) as at 20 February 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 1.12 per cent. of the excess Shares tendered.

A total of 5,119,633 Shares will be repurchased by the Company on 17 April 2018 under the Tender Offer and held in treasury.  It is expected that payments will be made in respect of successfully tendered Shares during the week commencing 23 April 2018.

Following the implementation of the Tender Offer the Company will have 54,618,507 Shares in issue (including 8,571,411 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 46,047,096 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 12 April 2018, being the Calculation Date for the purposes of the Tender Offer, was 676.32 pence per Share. Accordingly the Tender Price, calculated in accordance with the Circular sent to Shareholders on 13 March 2018, is 652.6487 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 13 March 2018.

Enquiries:

Aberdeen Fund Managers Limited (Alternative Investment Fund Manager to the Company)

William Hemmings / Jonathon McManus                               Tel: [phone]

Stockdale Securities Limited (Financial adviser and broker to the Company)

Robert Finlay / Rose Ramsden                                                   Tel: [phone]

 

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