EGM Results

RNS Number : 6767W

Templeton Emerging Markets IT PLC

13 June 2008

 



FOR IMMEDIATE RELEASE

13 June, 2008

Templeton Emerging Markets Investment Trust PLC

("TEMIT" or the "Company")

RESULT OF EGM

SHAREHOLDERS APPROVE TENDER OFFER

The Board of TEMIT is pleased to announce that at the Extraordinary General Meeting held earlier today, the ordinary resolution to approve the Tender Offer, as set out in the Circular to Shareholders dated 20 May 2008, was passed by Shareholders.

In addition, the special resolution to renew the Company's authority to purchase up to 14.99% of its Shares in issue on 13 June 2008 or 70,854,915 Shares (whichever is the lower amount), such authority to expire no later than the annual general meeting of the Company to be held in 2009, was also approved by Shareholders.

The votes on each resolution were as follows:

Resolution 1

            For                 219,498,332 Shares (98.98% of votes cast)

            Against             1,656,359 Shares (0.75% of votes cast)

            Abstention         616,749 Shares (0.28% of votes cast)

Resolution 2

            For                 221,143,589 Shares (99.72% of votes cast)

            Against             486,382 Shares (0.22% of votes cast)

            Abstention         141,469 Shares (0.06% of votes cast)

A total of 221,771,440 Shares were voted on Resolution 1 and 221,771,440 Shares on Resolution 2, each representing approximately 46.91% of TEMIT's Shares outstanding.

Accordingly, ordinary resolution 1 and special resolution 2 at the EGM were duly approved and adopted.  

The results of the Tender Offer and the Strike Price Discount are expected to be announced on 16 June 2008.

Defined terms in this announcement have the same meaning as in the Circular to Shareholders dated 20 May 2008.

Enquiries

Templeton Emerging Markets Investment Trust PLC:            [phone]

Sara MacIntosh

ING Corporate Finance (Financial Adviser):                             [phone]

William Marle

Francis Moore

UBS (Corporate Broker):                                                            [phone]

Joe Winkley

Lansons:                                    

Tony Langham                                                                               [phone]

David Masters                                                                               [phone]

This announcement has been approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 by ING Corporate Finance, the corporate finance division of ING Bank N.V., London Branch, and UBS Limited.

ING Corporate Finance and UBS are acting exclusively for the Company and no one else in relation to the matters described in this announcement and will not be responsible to anyone other than TEMIT for providing the protections afforded to clients of ING Corporate Finance and UBS or for giving advice in relation to this announcement or any transaction or arrangement referred to herein. ING Bank N.V., London Branch is authorised by the Dutch Central Bank. UBS is authorised by the Financial Services Authority. ING Bank N.V., London Branch, and UBS Limited are regulated by the Financial Services Authority for the conduct of business in the United Kingdom.

This announcement does not constitute an offer or form any part of any offer or invitation to sell or issue or purchase or subscribe for any shares in TEMIT.

 

END

 

 

REGFJMBTMMTBBRP