3 Jun 2010 17:48
Aberdeen Private Equity Fund Limited ("the Company")
Results of Extraordinary General Meeting
The Board of the Company announces that at the class meeting of the US Dollar shareholders and extraordinary general meeting, both held today, all resolutions were duly passed.
(a) The change of name of the Company to Aberdeen Private Equity Fund Limited (APEF.L) has been approved by shareholders but still needs to be registered with the Registrar of Companies in Guernsey.
(b) The investment objective and policy of the Company has been changed as described in the circular dated 10 May 2010.
(c) All of the Company's US Dollar shares will convert into Sterling shares, thereby simplifying the Company's capital structure. The conversion will be on the basis of 28 May 2010 net asset value ("NAV"), anticipated to be published on, or around, 21 June 2010. The Listing of the US Dollar Shares will be cancelled on 2 July 2010.
For illustrative purposes only, using the NAV attributable to the US Dollar Shares and the Sterling Shares (the last published NAV before this announcement) and the exchange rate of US$1.5306:£1, all as at 30 April 2010, the entitlement would be as set out below:
| NAV attributable to US Dollar shares in Sterling based on the above exchange rate (£) | NAV attributable to Sterling shares as at 30 April 2010 (£) | Entitlement to Sterling shares of US Dollar shareholders (£) |
| 0.5110 | 0.8796 | 0.5809 Sterling shares for every US Dollar Share held |
An announcement will be made in due course of the final entitlement to Sterling Shares of the Dollar Shareholders.
(d) The waiver, granted by the Panel on Takeovers and Mergers, of the obligation that would otherwise arise on Elsina Limited (the Company's largest shareholder) to make a general offer to shareholders pursuant to Rule 9 of the City Code as a result of the share conversion proposal in (c) or in consequence of the Company repurchasing its own shares, has been approved.
Aberdeen Private Equity Fund LimitedJonathan Carr, Chairman, 01242 890287
Aberdeen Asset Management Limited James Thorneley, Aberdeen Asset Management Limited, 020 7463 6323 Neil Bennett/Charlotte Walsh, Maitland, 020 7379 5151
Matrix Corporate Capital LLPPaul Fincham/Robert Naylor, 020 3206 7175