23 Dec 2009 10:31
Advance Developing Markets Fund Limited has received the following notification of interest in its shares
TR-1(i): 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 Limited
2. Reason for the notification (please state Yes/No): ( )
An acquisition or disposal of voting rights: ( YES )
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: ( )
Other (please specify) : ( )
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):
17 December 2009
6. Date on which issuer notified:
21 December 2009
7. Threshold(s) that is/are crossed or reached (vi, vii):
16%
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 | |
|
| Number of shares | Number of voting Rights |
| GG00B45L2K95 | 10,082,537 | 10,082,537 |
Resulting situation after the triggering transaction
| Class/type of shares if possible using the ISIN CODE | Number of shares | Number of voting rights | % of voting rights | ||
| Direct | Direct (xi) | Indirect (xii) | Direct | Indirect | |
| GG00B45L2K95 | N/A | 10,737,227 | 16.28% | ||
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
| Type of financial instrument | Expiration Date (xiii) | Exercise/Conversion Period/ Date (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 | |
| Nominal | Delta | |||||
Total (A+B+C)
| Number of voting rights | % of voting rights |
| 10,737,227 | 16.28% |
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:
14. Contact name:
Jay McKenna or Mike Sugrue
15. Contact telephone number:
Jay.McKenna@Citlon.com - 001-610-380-0121 OR
Michael.Sugrue@citlon.co.uk - 0207 860 8340
Enquiries:
Name of person making this announcement on behalf of Advance Developing Markets Fund Limited.
Mr Russell Scott
Tel: 020 7490 4355