Conversion of Subscription Sh

RNS Number : 5873V

Advance Developing Markets Fund Ltd

04 November 2010

 



Advance Developing Markets Fund Limited

Conversion of Subscription Shares

Advance Developing Markets Fund Limited announces that on the subscription date of 29 October 2010, conversion rights in respect of 2,350,604 Subscription Shares were exercised.  As a result 2,350,604 Ordinary Shares will be allotted at a subscription price of 291p per Ordinary Share.

Application will be made to the UK Listing Authority and to the London Stock Exchange for the admission to the Official List and to trading of the above Ordinary Shares.  It is expected that the new Ordinary Shares will be admitted to the Official List and will begin trading on the London Stock Exchange's main market on 9 November 2010.

The share capital in issue following this subscription will consist of 68,290,851 Ordinary Shares with voting rights and 9,830,153 Subscription Shares with no voting rights. However, the Subscription Shares are considered to be qualifying financial instruments under the FSA's Disclosure and Transparency Rules, and accordingly, the total number of voting rights for the purposes of those rules will be 78,121,004. 

The above figures may be used by shareholders as denominators for the calculations by which they will determine if they are required to notify their interest in, or a change of interest in, the Company under the FSA's Disclosure and Transparency Rules.

For further information please contact:

Advance Emerging Capital Limited (Investment Manager to Advance Developing  Markets Fund Limited)

Dr Slim Feriani            

Tel: [phone]                   

Cavendish Administration Limited (UK Administration Agent)

Anthony Lee / Russell Scott                               

Tel: [phone]

4 November 2010

 

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