THE EASTERN EUROPEAN TRUST PLC - Tender Offer
November 07 2012 - 12:10PM
PR Newswire (US)
THE EASTERN EUROPEAN TRUST PLC - Tender Offer
7 November 2012
Tender offer
The Board of The Eastern European Trust PLC (the `Company') is
mindful of the share price discount to NAV at which the Company's
shares trade. During 2010 the Board introduced a package of
measures aimed at reducing the Company's discount.
The estimated current discount is 9.4% (based on the Company's
diluted ex-income NAV as at close of business 6 November 2012), therefore the Board will be
exercising its discretion and offering a periodic tender for up to
7.5% of the Company's shares in issue (excluding treasury shares)
as at the close of business on 21 December
2012 (the record date for participation in the tender offer)
at a discount of 1% to Formula Asset Value (diluted NAV less the
costs of the tender offer). The calculation date for the tender
offer will be the close of business on 21
January 2013.
The Board intends to post a circular to shareholders during
December 2012 containing details of
the tender offer and the procedure for tendering shares.
Shareholders should place no expectation or reliance on the
Board exercising its discretion to operate a periodic tender offer
on any one occasion in the future.
Enquiries:
Jonathan Ruck Keene - BlackRock
Investment Management (UK) Limited Telephone Number: 020 7743
2178
Jane Lewis - Winterflood Investment Trusts
Telephone Number: 020 3100 0295
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