Holding(s) in Company

RNS Number : 2054N

Advance Developing Markets Fund Ltd

30 August 2011

Advance Developing Markets Fund Limited has received the following notification of interest in its shares

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ			Advance Developing Markets Fund Ltd
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights				X
Other (please specify):	Conversion of Subscription shares
3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ		City of London Investment Management Company Limited
4. Full name of shareholder(s) (if different from 3.):^iv
5. Date of the transaction and date on which the threshold is crossed or reached: ^v		25 August 2011
6. Date on which issuer notified:		26 August 2011
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}		27%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

GG00B45L2K95

17,612,777

N / A

18,142,777

27.44%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

GG00B462HH36

Subscription

291p

October 31, 2011

500,000 shares to be newly created at time of conversion

Nominal

Delta

5.09%

0.76%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

18,642,777 if all subscription shares were converted

28.20% (if all shares are converted and if there were no new shares created)

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi
All Voting Rights on all Shares are controlled by City of London Investment Management Limited.

Proxy Voting:
10. Name of the proxy holder:		City of London Investment Management Company Limited
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	Based on voting rights to 66,113,801 as published by the fund on the London Stock Exchange. Any conversion of Subscription Shares will result in the creation of new shares with voting rights.
14. Contact name:	Jay McKenna or Chris Weaver
15. Contact telephone number:	Jay.McKenna@Citlon.com - 001-610-380-0121 OR Christopher.Weaver@citlon.co.uk - 0207 860 8329