Subscription Share Final Subscription Date

RNS Number : 7191F

Aberdeen Latin American Inc Fd Ltd

16 November 2015

 

16 NOVEMBER 2015

ABERDEEN LATIN AMERICAN INCOME FUND LIMITED
(the "company")

SUBSCRIPTION SHARES - FINAL exercise DATE

The last date on which holders of subscription shares in the Company (the "Subscription Shares") may exercise their rights to convert each Subscription Share into an ordinary share in the Company (an "Ordinary Share") at a price of 120p per Ordinary Share is 31 December 2015 (the "Final Exercise Date").

To the extent holders of Subscription Shares have not elected to exercise their Subscription Share rights by the Final Exercise Date, a trustee will be appointed by the Company (the "Trustee") over the remaining Subscription Shares.  In accordance with the Subscription Share terms, the Trustee will have to decide whether or not to exercise the outstanding Subscription Share rights and to have done so within 14 days of the Final Exercise Date, such period expiring at the latest at the close of business on Thursday, 14 January 2016.  In the event that the Trustee determines to exercise the outstanding Subscription Share rights, proceeds received upon the sale of the Ordinary Shares arising from such exercise (less the exercise price of 120p per Ordinary Share and any expenses incurred) will be paid to the holders of the remaining Subscription Shares pro rata to their holdings of the remaining Subscription Shares.

To the extent not exercised by the Trustee, the Subscription Share rights will lapse at close of business on Thursday, 14 January 2015 and, in accordance with their terms, all outstanding Subscription Shares will be converted automatically into deferred shares ("Deferred Shares") and repurchased by the Company for a nominal consideration and cancelled.  The Company shall not be obliged to account to any holder of Deferred Shares for the repurchase moneys in respect of such Deferred Shares.

The Company will apply for any Ordinary Shares arising from the exercise of Subscription Share rights, whether by Subscription Shareholders or by the Trustee, to be admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities and will make further announcements in due course.

The Company has requested that the UK Listing Authority suspend the listing of, and the London Stock Exchange to suspend trading in, the Subscription Shares from 7.30 a.m. on Monday, 4 January 2016, following the passing of the Final Exercise Date, and that the listing and trading of the Subscription Shares be cancelled with effect from 8.00 a.m. on Friday, 15 January 2016.

The notice reminding holders of Subscription Shares of their rights and the Final Exercise Date will be posted today and a copy will be (i) submitted to the National Storage Mechanism and will be available shortly for inspection at www.morningstar.co.uk/uk/nsm and (ii) available in electronic form on the Company's website (www.latamincome.co.uk).

Enquiries

Gary Jones, 020 7463 6000 Aberdeen Asset Managers Limited

Charles Mearns, 0131 528 4000 Aberdeen Private Wealth Management Limited 

 

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