APEF.L Regulatory News (APEF)

23 May 2018

Aberdeen Private Equity Fund Limited

Net Asset Value, 30 April 2018

Ordinary Shares

As at the close of business on 30 April 2018, the Net Asset Value per GBP share of Aberdeen Private Equity Fund Limited was 7.7 pence (5 April 2018: 7.5 pence) or net assets of £4.2 million (5 April 2018: £4.1 million).

The 30 April 2018 estimated NAV includes a deduction for tax payable under the U.S. Tax Cuts and Jobs Act legislation, as referred to in the Company's announcement of 27 February 2018, but excludes tax that is potentially recoverable. The amount withheld by the buyer for this purpose has now been finalised at approximately US$2.3 million. There can be no certainty that this full amount will be recovered, but, at the current exchange rate, this would equate, in terms of the NAV per remaining share in issue of a further approximately 3.2 pence. 

It is expected that any recoverable tax proceeds would be returned to shareholders as part of the Company's liquidation process. The timetable for liquidation will be dependent on how quickly the Company and its tax advisers can finalise its US tax filings and recover the tax withheld.

The estimated NAV has been prepared in good faith by the Company's administrator and is for information purposes only. The estimated NAV has not been subjected to any independent verification or other due diligence and may not comply with generally accepted accounting practices or other generally accepted valuation principles. Other risk factors which may be relevant to these valuations are set out in the Company's Prospectus, dated 6th June 2007, and the Circular, dated 1 February 2018.

LEI: 213800V526XNYNLZPV78 

For further information, please contact:

Ipes (Guernsey) Limited

Nicholas Robilliard

T: +44 1481 735827