Advance Developing Markets Fund Limited has received the following notification of interest in its shares
TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES
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1. Identity of the issuer or the underlying issuer |
Advance Developing Markets Fund Ltd |
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2 Reason for the notification (please tick the appropriate box or boxes): |
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An acquisition or disposal of voting rights |
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An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached |
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An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify): |
Conversion of Subscription shares |
X |
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3. Full name of person(s) subject to the |
City of London Investment Management Company Limited |
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4. Full name of shareholder(s) |
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5. Date of the transaction and date on |
5 November, 2010 |
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6. Date on which issuer notified: |
9 November, 2010 |
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7. Threshold(s) that is/are crossed or |
From 21 % to 24 % |
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8. Notified details: |
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A: Voting rights attached to shares viii, ix |
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Class/type of
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Situation previous |
Resulting situation after the triggering transaction |
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Number |
Number |
Number |
Number of voting |
% of voting rights x |
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Direct |
Direct xi |
Indirect xii |
Direct |
Indirect |
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GG00B45L2K95 |
14.166,667 |
14.166,667 |
N / A |
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14,166,667 |
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20.74 % |
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B: Qualifying Financial Instruments |
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Resulting situation after the triggering transaction |
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Type of financial |
Expiration |
Exercise/ |
Number of voting |
% of voting |
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C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi |
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Resulting situation after the triggering transaction |
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Type of financial |
Exercise price |
Expiration date xvii |
Exercise/ |
Number of voting rights instrument refers to
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% of voting rights xix, xx
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Nominal |
Delta |
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Total (A+B+C) |
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Number of voting rights |
Percentage of voting rights |
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14,166,667 |
20.74 % |
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9. Chain of controlled undertakings through which the voting rights and/or the |
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All Voting Rights on all Shares are controlled by City of London Investment Management Limited. |
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Proxy Voting: |
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10. Name of the proxy holder: |
City of London Investment Management Company Limited |
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11. Number of voting rights proxy holder will cease |
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12. Date on which proxy holder will cease to hold |
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After the conversion of subscription shares the new voting shares in issue is 68,290,851 |
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14. Contact name: |
Jay McKenna or Mike Sugrue |
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15. Contact telephone number: |
Jay.McKenna@Citlon.com - 001-610-380-0121 OR Michael.Sugrue@citlon.co.uk - 0207 860 8340 |
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Enquiries:
Name of person making this announcement on behalf of Advance Developing Markets Fund Limited.
Anthony Lee
Cavendish Administration Limited
Tel: 020 7490 4355
10 November 2010
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