Result of Tender Offer

RNS Number : 2603R

abrdn China Investment Company Ltd.

03 November 2021

 

abrdn China Investment Company Limited (formerly Aberdeen Emerging Markets Investment Company Limited) ("ACIC" or the "Company")

Legal Entity Identifier (LEI): 213800RIA1NX8DP4P938

Results of Tender Offer

Further to the announcement of the proposed Tender Offer on 30 July 2021 and the announcement of the publication of the Prospectus and Circular on 4 October 2021, the Board of abrdn China Investment Company Limited announces that a total of 43,351,363 Shares, being 94.3 per cent. of the Company's Shares in issue (excluding treasury shares) as at 1 November 2021, were validly tendered under the Tender Offer. As a result, the Tender Offer which was limited to 15 per cent. of the Company's Shares in issue (excluding treasury shares) was oversubscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 0.48 per cent. of the excess Shares tendered.

A total of 6,894,773 Shares will be repurchased by the Company on 10 November 2021 under the terms of the Tender Offer and either held in treasury or cancelled.  It is expected that payments will be made in respect of successfully tendered uncertificated Shares on or around 10 November 2021 and that payments will be made in respect of successfully tendered certificated Shares in the week commencing 15 November 2021.

In accordance with the timetable for the tender offer set out in the Prospectus and Circular published on 4 October 2021 the tender price will be announced on 9 November 2021.

Terms used and not defined in this announcement bear the meaning given to them in the Circular published by the Company dated 4 October 2021.

 Enquiries:

Aberdeen Standard Fund Managers Limited (Alternative Investment Fund Manager to the Company)

Evan Bruce-Gardyne    Tel [phone]

PraxisIFM Fund Services (UK) Limited (UK Administration Agent)

Brian Smith                                                       Tel: [phone]

Shore Capital & Corporate Limited (Financial adviser and broker to the Company)

Robert Finlay / Rose Ramsden  Tel: [phone]

 

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