Tender Offer Results
January 28 2011 - 10:45AM
UK Regulatory
TIDMEST TIDMESTS
THE EASTERN EUROPEAN TRUST PLC
28 January 2011
Results of Tender and Tender Price
The Board today announces that the Net Asset Value as at the Calculation Date
for the Tender Offer was 348.20 pence per Ordinary Share. Accordingly, the
Tender Price, which has been calculated in accordance with paragraph 3 of Part
IV of the Circular to Shareholders dated 17 December 2010, is 337.8046 pence
per Ordinary Share.
The Tender Offer was over-subscribed with 58.08 per cent. of the Company's
issued share capital being tendered. Following scaling back, 3,676,752 Ordinary
Shares will be repurchased by the Company at the Tender Price and held in
treasury; this equates to 7.5 per cent. of the Company's ordinary shares in
issue at the Record Date. Shareholders who tendered in excess of their basic
entitlement will have their excess tenders satisfied to the extent of an
additional approximately 4.67 per cent.. It is expected that cheques will be
despatched and CREST payments made in the week commencing 31 January 2011.
The Company announces that 1,414,190 Ordinary Shares which were held in
Treasury were today cancelled. There are 3,250,177 Ordinary Shares currently
held by the Company in Treasury. Following the implementation of the Tender
Offer, the Company will have 46,179,527 Ordinary Shares in issue (excluding
6,926,929 Ordinary Shares held in treasury).
Enquiries
Jonathan Ruck Keene/ Barbara Powley 020 7743 3000
BlackRock Investment Management (UK) Limited
Jane Lewis 020 3100 0295
Winterflood Investment Trusts
END
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