Possible C Share Issue Update

RNS Number : 8779O

Aberdeen Asian Income Fund Limited

17 October 2012

 



17 October 2012

ABERDEEN ASIAN INCOME FUND LIMITED

POSSIBLE C SHARE ISSUE UPDATE

The Board announced, on 18 September 2012, that, in view of the Company's strong investment performance on a NAV total return basis and the premium rating of the Ordinary Shares resulting from the high levels of market demand for them, it was considering ways in which this demand can be satisfied by further issues of new shares, including a possible issue of C Shares.  The Ordinary Shares have continued to trade at a significant premium to their NAV since the announcement regarding a possible C Share issue was made.

Having consulted a combination of existing and prospective investors in the Company, the Board is pleased to announce that written commitments to subscribe for C Shares with an aggregate value, at their issue price, of more than £40 million have been received from a range of institutional investors, private client investment managers and private client brokers.  The Directors believe that this level of demand merits proceeding with such an issue.  Accordingly, the Board expects to publish a prospectus relating to a placing and public offer for subscription of C Shares shortly, in conjunction with sending a circular to shareholders to convene an extraordinary general meeting of the Company at which the requisite approvals will be sought to enable the C Share issue to proceed.

A further announcement will be made in due course.

Enquiries:

William Hemmings / Gary Jones	Aberdeen Asset Managers Limited	[phone]
Sue Inglis / Chris Whittingslow	Cantor Fitzgerald Europe	[phone] / [phone]

 

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