Result of General Meeting

RNS Number : 9115P

Aberdeen All Asia Inv Tst PLC

07 October 2013

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA.

This announcement is an advertisement and not a prospectus. This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in Aberdeen All Asia Investment Trust PLC (the "Company") or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities. Any investment decision must be made exclusively on the basis of the Prospectus published by the Company and any supplement thereto.

7 October 2013

Aberdeen All Asia Investment Trust PLC

Result of General Meeting

On 11 September 2013, the Board of Aberdeen All Asia Investment Trust PLC (the "Company") announced plans to change the Company's investment mandate, change the investment management fee, adopt new articles of association and authorise a C share issue ("Proposals").

The Board is pleased to report that the Proposals were approved by Shareholders at the General Meeting held today with the resolution contained in the Notice of Meeting unanimously passed on a show of hands. Proxy votes totaling 3,704,667 or 95.9% of those votes received were cast in favour of the resolution with 157,308 or 4.1% against.

The Company's new investment objective is to achieve long-term capital growth principally through investment in listed Japanese companies which are believed by the Investment Manager to have above average prospects for growth. The new investment policy also provides for the underlying Yen net exposure to be appropriately Sterling hedged at levels to be determined from time to time by the Board in consultation with the Investment Manager.

The Company's name will change to Aberdeen Japan Investment Trust PLC with a new ticker code of AJIT.

The Board is pleased with the reception and feedback obtained from investors. However, it has decided not to proceed with the C share issue ("Issue"). In spite of demand from new investors it has determined that the Issue would not have reached its minimum size. 

All monies received under the Offer for Subscription will be returned to applicants by the registrar at the earliest opportunity.

It is expected that the Company's existing portfolio of assets will be realigned in accordance with the Company's new investment mandate within the next few days. 

Save where the context otherwise requires, terms used in this announcement have the same meanings as set out in the Prospectus dated 11 September 2013.

Enquiries

William Simmonds                              J.P. Morgan Cazenove                     0207 588 2828

William Hemmings                              Aberdeen Asset Managers Limited 0207 463 6223

Gary Jones                                           Aberdeen Asset Managers Limited 0207 463 6295

J.P.Morgan Securities plc (which conducts its UK investment banking business as "J.P.Morgan Cazenove") is acting for Aberdeen All Asia Investment Trust PLC and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Aberdeen All Asia Investment Trust PLC for providing the protections afforded to clients of J.P.Morgan Securities plc or for providing advice in relation to the matters referred to in this announcement.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase, any shares offered by the Company.

Neither the National Storage Mechanism website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.

 

END

 

 

ROMXDLFBXBFZFBE