Aberdeen Frontier Mkts Inv Co Ltd Termination of tender offer (4557R)
December 09 2016 - 5:53AM
UK Regulatory
TIDMAFMC
RNS Number : 4557R
Aberdeen Frontier Mkts Inv Co Ltd
09 December 2016
Aberdeen Frontier Markets Investment Company Limited
Termination of tender offer
9 December 2016
Further to the publication on 11 November 2016 of a circular
(the "Circular") in connection with a Tender Offer to purchase up
to 100 per cent. of the Ordinary Shares in issue the Board of
Aberdeen Frontier Markets Investment Company Limited (the
"Company") announces that the number of Ordinary Shares tendered is
such that the Board is of the view that the continuance of the
Company as currently constituted is not in the best interests of
the continuing Shareholders, and accordingly it has exercised the
right, as set out in the Circular, to terminate the Tender Offer.
The Tender Offer will therefore not proceed and instead the Company
will put forward alternative proposals to the Shareholders.
The Company is in receipt of a detailed proposal from Aberdeen
Fund Managers Limited regarding the future of the Company which
would include a cash exit opportunity and it expects to consult
with shareholders shortly.
All documents lodged pursuant to the Tender Offer will be
returned or sent promptly by post, within 14 Business Days of this
announcement, to the person or agent whose name and address is set
out on Tender Form or, if none is set out, to the Tendering
Shareholder or, in the case of joint holders, the first named at
his or her registered address as shown on the Tender Form. In the
case of Ordinary Shares held in uncertificated form, Capita Asset
Services, in its capacity as the escrow agent will, within 14
Business Days of this announcement, give instructions to CREST to
transfer all Ordinary Shares held in escrow balances and in
relation to which it is the escrow agent for the purposes of the
Tender Offer by TFE Instruction to the original available balances
from which those Ordinary Shares came.
In respect of the Extraordinary General Meeting to be held at 11
New Street, St Peter Port, Guernsey GY1 2PF on 12 December 2016 at
3.30pm the Chairman will propose a resolution that the meeting is
adjourned indefinitely.
Terms used and not defined in this announcement shall have the
meaning given to them in the Circular.
Enquiries:
Aberdeen Fund Managers Limited
(Manager to Aberdeen Frontier Markets Investment Company
Limited)
William Hemmings / Gary Jones
Tel: +44 (0)20 7463 6223
Grant Thornton UK LLP
(Nominated Adviser)
Philip Secrett
Tel: +44 (0)20 7383 5100
Numis Securities Limited
(Nominated Broker)
David Benda/Hugh Jonathan
Tel: +44 (0)20 7260 1275/1263
This information is provided by RNS
The company news service from the London Stock Exchange
END
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