Templeton Emerging Markets Share News (TEM)

(Sharecast News) - Templeton Emerging Markets Investment Trust on Friday confirmed its intention to introduce a five-year performance-related conditional tender offer.The concept, which will be implemented subject to the passing of a continuation vote put to the company's annual general meeting in July, will see the Templeton put forward proposals to shareholders to undertake a tender offer for up to 25% of its issued share capital if its net asset value total return fails to exceed the benchmark total return in the the five-year period to 31 March 2024.No tender offer will take place if net asset value total return continues to exceed the Templeton's benchmark total return.The FTSE 250-traded trust said any offer will be at a price equal to the then prevailing net asset value less 2%, and will also be conditional on shareholders approving a continuation vote in 2024 before taking place following the annual general meeting that year.A statement from the company said the board will recommend that shareholders vote in favour of the resolution, adding that the long-term outlook for Emerging Markets remains "favourable" and that current valuations provide an attractive investment opportunity.Templeton Emerging Markets' shares were up 0.20% at 783.60p at 0837 BST.