Tender Offer

RNS Number : 5675A

Schroder AsiaPacific Fund PLC

02 February 2011

 



2 February 2011

Tender Offer Price

Further to the announcement made by Schroder AsiaPacific Fund plc (the "Company") on 31 January 2011 regarding the passing of the special resolution at the General Meeting to give effect to the Tender Offer for Shares in the Company, the Board today announces that the Tender Price, which has been calculated in accordance with paragraph 3 of Part IV of the circular to Shareholders dated 6 January 2011 (the "Circular"), is 234.5853 pence per Share.

A total of 69,731,610 shares were validly tendered under the Tender Offer. As a result, 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 21.29 per cent. of the excess shares tendered.

25,711,701 shares will be repurchased by the Company under the Tender Offer and cancelled; this equates to 15% of the Company's shares in issue at 23 December 2010.

It is expected that cheques will be despatched and CREST accounts will be credited with proceeds in respect of successfully tendered shares and with unsold uncertificated Shares by 10 February 2011.  It is expected that balancing certificates in respect of unsold certificated Shares will be despatched during the week commencing 14 February 2011.

Following the implementation of the Tender Offer, the Company will have 145,801,291 Shares in issue.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.

Enquiries:

John Spedding

Schroder Investment Management Limited

020 7658 3206

David Benda/Hugh Jonathan

Numis Securities Limited

020 7260 1000

 

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