Cancellation of Subscription Shares

RNS Number : 0207M

Aberdeen Latin American Inc Fd Ltd

15 January 2016

 

15 JANUARY 2016

ABERDEEN LATIN AMERICAN INCOME FUND LIMITED
(the "company")

SUBSCRIPTION SHARES - CANCELLATION

On 4 January 2016, the Company appointed a trustee (the "Trustee") over the 10,420,986 subscription shares in the Company (the "Subscription Shares") whose conversion rights had not been exercised on or before 31 December 2015. 

The Trustee had the right to exercise the Subscription Share rights by the close of business on Thursday, 14 January 2016 in accordance with the Company's articles of association.  The outstanding Subscription Shares were not exercised by the Trustee by this deadline as the Trustee considered that the exercise of the Subscription Share rights and sale of the resulting ordinary shares in the market would not generate sufficient net proceeds of sale for distribution to the holders of the Subscription Shares.

In accordance with the Company's articles of association, the remaining Subscription Shares have now been converted automatically into deferred shares ("Deferred Shares") and have been repurchased by the Company for a nominal consideration and cancelled.  The Company shall not be obliged to account to any holder of Deferred Shares for the repurchase moneys in respect of such Deferred Shares.

The standard listing in the Financial Conduct Authority's Official List and trading on the London Stock Exchange's main market of the Subscription Shares was cancelled with effect from 8.00 a.m. today.

Enquiries

Gary Jones, 020 7463 6000 Aberdeen Asset Managers Limited

Charles Mearns, 0131 528 4000 Aberdeen Private Wealth Management Limited

 

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