Final Distribution to Exiting
For immediate release
31 July, 2008
Templeton Emerging Markets Investment Trust PLC
("TEMIT" or the "Company")
Final distribution to Exiting Shareholders
Pursuant to the Tender Offer, the Board announces that a final distribution, of 19.83p per Exit Share, is expected to be made to Exiting Shareholders on 1 August 2008.
Aggregated with the previous two interim distributions of 357p and 50p made on 27 June 2008 and 11 July 2008 respectively, the Board has made a total distribution of 426.83p per Exit Share, which constitutes the Tender Price for the Tender Offer.
Forms of payment for Exiting Shareholders are as follows:
-
Exiting Shareholders who held Shares in uncertificated form in CREST will be paid the consideration through CREST on 1 August 2008 in favour of the Exiting Shareholders' payment bank in accordance with the CREST payment arrangement.
-
Exiting Shareholders who held Shares in certificated form will receive a cheque for the consideration from the Registrars by first class post to the address written in Box 1 (or, if relevant, Box 5A) of their Tender Form or, in the case of joint holders, the address of the first named or, to the registered address of the Exiting Shareholder. Cheques are expected to be posted on 1 August 2008.
-
Exiting Shareholders who held Shares through the Templeton Investment Plan will receive a cheque for the consideration from the Registrars by first class post to their registered address or, in the case of joint holders, the address of the first named. Cheques are expected to be posted on 1 August 2008.
-
Exiting Shareholders who held Shares on the New Zealand Branch Register will receive a cheque in New Zealand dollars from the New Zealand Registrar to their registered address or, in the case of joint holders, the address of the first named. Cheques are expected to be posted on 1 August 2008.
In accordance with the terms of the Tender Offer, the Company has repurchased a total of 141,804,364 Shares from UBS for cancellation. Following cancellation of the successfully tendered Shares, there will be 330,876,852 Shares outstanding.
Defined terms in this announcement have the same meaning as in the Circular to Shareholders dated 20 May 2008.
Enquiries
Templeton Emerging Markets Investment Trust PLC: Freephone: 0800 305 306 or +44 207 073 8690
Client Dealer Services
ING Corporate Finance (Financial Adviser): +44 207 767 1000
William Marle
Francis Moore
UBS (Corporate Broker): +44 207 567 8000
Joe Winkley
Lansons:
Tony Langham +44 7979 692287
David Masters +44 7786 394688
This announcement has been approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 by ING Corporate Finance, the corporate finance division of ING Bank N.V., London Branch, and UBS Limited.
ING Corporate Finance and UBS are acting exclusively for the Company and no one else in relation to the matters described in this announcement and will not be responsible to anyone other than TEMIT for providing the protections afforded to clients of ING Corporate Finance and UBS or for giving advice in relation to this announcement or any transaction or arrangement referred to herein. ING Bank N.V., London Branch is authorised by the Dutch Central Bank. UBS is authorised by the Financial Services Authority. ING Bank N.V., London Branch, and UBS Limited are regulated by the Financial Services Authority for the conduct of business in the United Kingdom.
This announcement does not constitute an offer or form any part of any offer or invitation to sell or issue or purchase or subscribe for any shares in TEMIT.
This information is provided by RNS
Latest directors dealings
- 7 hours ago Johnson Matthey
- 8 hours ago Galliford Try
- 9 hours ago Galliford Try
- 9 hours ago Centrica
- 9 hours ago Smith & Nephew