C share conversion ratio & admission of ord shares

RNS Number : 3489Z

Aberdeen Latin American Inc Fd Ltd

14 March 2012

 



Aberdeen Latin American Income Fund Limited                                        

14 March 2012

C Share Conversion Ratio and Admission of New Ordinary Shares to Official List and trading on the London Stock Exchange

Further to its announcement dated 29 February 2012, Aberdeen Latin American Income Fund Limited (the "Company") is pleased to announce the following information in relation to the conversion of its C Shares.

Conversion Ratio for C Shares

The net asset values attributable to the Ordinary Shares and the C Shares as at the Calculation Date, being 29 February 2012, were 103.97p per share and 96.43p per share respectively. The NAVs have been calculated including income and after providing for, in the case of the Ordinary Shares, the second interim dividend declared on 27 February 2012.

The Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 20 January 2012 (the "Prospectus"), is 0.9275 Ordinary Shares for every one C Share held.

On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 927 New Shares upon Conversion.

Entitlements will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.

The Ordinary Shares arising on Conversion (the "New Shares") will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue. 

Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus. Terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined.

Admission to the Official List and to trading on the London Stock Exchange

On the basis of the Conversion Ratio, application will be made to the UK Listing Authority for 14,466,389 New Shares to be admitted to the premium segment of the Official List. Application will also be made for the New Shares to be admitted to trading on the London Stock Exchange. It is expected that such admissions will become effective and that dealings in the New Shares will commence on 11 April 2012.

The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8:00 a.m. on 11 April 2012.

Expected Timetable

The expected timetable for Conversion is as follows:

Record date for Conversion and C Share register closes	10 April 2012 (close of business)
Conversion Date and dealings in New Shares commence	11 April 2012
Crediting of CREST accounts with New Shares	11 April 2012
Share certificates in respect of New Shares despatched	Week commencing 16 April 2012

Voting Rights and Capital

Effective from 11 April 2012, the Company's share capital will consist of 66,572,574 Ordinary Shares with voting rights and 10,421,236 Subscription Shares with no voting rights. Accordingly, the figure of 66,572,574 may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

Aberdeen Asset Managers Limited Charlie Macrae Gary Jones	[phone]
Canaccord Genuity Limited Sue Inglis Chris Whittingslow	[phone]

The contents of this announcement have been prepared by and are the sole responsibility of the Company. Canaccord Genuity Limited ("Canaccord Genuity"), which is regulated by the Financial Services Authority, is acting exclusively for the Company and no-one else and will not be responsible to anyone other than the Company for providing the protections afforded to the clients of Canaccord Genuity, nor for affording advice in relation to the Issue, the contents of this announcement or any matter referred to herein.

 

END

 

 

MSCLLFIVVDISLIF