Result of General Meeting - R

RNS Number : 7914A

Schroder AsiaPacific Fund PLC

14 October 2009

 

Schroder AsiaPacific Fund plc

Results of General Meeting and Issue of Subscription Shares 

14 October 2009 

The announcement released by Schroder AsiaPacific Fund plc (the "Company") on 14 October 2009 at 16.09 under RNS Number 7852A was incorrect. Due to an administrative error, the NAV per Ordinary Share as at 5.00 p.m. on 13 October 2009 was incorrectly stated as 188.64 pence per share. The correct NAV per Ordinary Share as at 5.00 p.m. on 13 October 2009 was 188.46 pence per share. The full text of the corrected announcement appears below. 

Schroder AsiaPacific Fund plc (the "Company") announces that at the General Meeting of the Company held today to consider a proposal to implement a bonus issue of Subscription Shares, the resolution giving effect to the Bonus Issue was duly passed without amendment. 

Issue of Subscription Shares 

A total of 33,437,655 Subscription Shares have been allotted, subject to Admission, to Ordinary Shareholders on the register at 5.00 p.m. on 13 October 2009, by way of a bonus issue on the basis of one Subscription Share for every five Ordinary Shares held at that date. 

The subscription share rights conferred by the Subscription Shares will be exercisable on each of 31 December, 31 March, 30 June and 30 September between 31 December 2009 and 31 December 2012 (or if such date is not a Business Day, on the next following Business Day). 

The Subscription Price, equal to the NAV per Ordinary Share as at 5.00 p.m. on 13 October 2009 of 188.46 pence per share plus a percentage premium to such amount, rounded up to the nearest whole penny, is as follows: 

If exercised on any Subscription Date between and including 31 December 2009 and 30 September 2010, 191 pence, representing a premium of 1 per cent. 

If exercised on any Subscription Date between and including 31 December 2010 to 30 September 2011, 208 pence, representing a premium of 10 per cent. 

If exercised on any Subscription Date between and including 31 December 2011 to 31 December 2012, 245 pence, representing a premium of 30 per cent. 

Application has been made for the Subscription Shares to be admitted to the Official List and to trading on the London Stock Exchange. It is expected that dealings in the Subscription Shares will commence at 8.00 a.m. on 15 October 2009. It is anticipated that certificates in respect of the Subscription Shares will be sent out in the week commencing 19 October 2009. 

Terms used and not defined in this announcement shall bear the meanings given to them in the Prospectus dated 18 September 2009.

Enquiries: 

John Spedding

Schroder Investment Management Limited

020 7658 3206 

David Benda

Numis Securities Limited

020 7260 1275

 

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