Posting of Annual Report & Circular

RNS Number : 0605S

Aberdeen Latin American Inc Fd Ltd

14 November 2011

 



ABERDEEN LATIN AMERICAN INCOME FUND LIMITED

POSTING OF ANNUAL REPORT and circular

Further to the announcements of the Company's results for the year ended  31 August 2011 released on 4 November 2011, copies of the following documents, which have today been posted to shareholders, are being submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do:

·       the Company's annual report and financial statements for the year ended 31 August 2011 (the "Annual Report"), which include the notice of the 2011 AGM; and 

·       the Company's circular to shareholders containing further details of the proposals (i) to amend the Company's articles of association so as to incorporate the rights, restrictions and other provisions relating to the C shares and (ii) to authorise the Company to allot up to 50,000,000 C Shares for cash without being required previously to offer such C shares on a pre-emptive basis to Ordinary Shareholders (such authority to expire on 31 December 2012 or, if earlier, at the annual general meeting of the Company to be held in 2012) and convening an extraordinary general meeting of the Company for Monday, 12 December 2011 commencing at 10.15 a.m. (or, if later, as soon as the AGM has concluded or been adjourned) (the "Circular"). 

The proposed amendment to the articles and the disapplication of pre-emption rights will enable the Company to raise substantial additional capital through a non-pre-emptive issue of C shares if there is sufficient investor demand at any time.  Notwithstanding such disapplication, the Directors intend that any issue of C Shares will be conducted by way of a placing and offer for subscription and that existing shareholders will be notified of such proposed issue so that, if they choose, they can apply for C Shares through the offer for subscription (in the event that an issue of C shares is over-subscribed, it is intended that applications from existing shareholders will be given priority). 

Copies of the Annual Report and the Circular will also be available to download from the Investment Manager's web site at www.latamincome.co.uk shortly.  

 

END

 

 

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