25 Jan 2017 14:12
Baring Emerging Europe Plc - Announcement of Tender PriceBaring Emerging Europe Plc - Announcement of Tender Price
PR Newswire
London, January 25
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25 January 2017
BARING EMERGING EUROPE PLC
Announcement of Tender Price
On 15 December 2016, the Company announced the publication of a circular (the "Circular") in respect of a tender offer for up to 10 per cent. of the issued share capital of the Company (excluding any Shares held in treasury) (the "Tender Offer"). Terms used in this announcement and not otherwise defined shall have the same meaning as in the Circular.
The Board announces that the NAV as at the Calculation Date (24 January 2017) was 806.28 pence per Share. Accordingly, the Tender Price is 784.18 pence per Share, being 97.5 per cent. of the NAV (after accounting for the costs of the Tender Offer) as at the Calculation Date.
It is currently expected that the Tender Offer will become unconditional on 27 January 2017, which will also be the Trade Date for Shares which have been accepted for repurchase under the Tender Offer.
Subject to the Tender Offer becoming unconditional, a total of 1,585,858 Shares, representing approximately 10.00 per cent. of the Company's issued share capital (excluding any Shares held in treasury), will be acquired by J.P. Morgan Cazenove and will subsequently be repurchased by the Company for cancellation.
The expected timetable for the completion of the Tender Offer is as follows:
| Trade Date for Shares submitted for Tender Offer | 27 January 2017 |
| Settlement of proceeds through CREST in respect of Tender Offer shares to uncertificated shareholders | 31 January 2017 |
| Despatch of settlement proceeds by cheque in respect of Tender Offer shares to certificated shareholders | by 3 February 2017 |
Unless otherwise stated, all references to time in this document are to London time.
Enquiries:
Steven BatesChairman, Baring Emerging Europe PLCTel: 020 7982 1263
William SimmondsJ.P. Morgan CazenoveTel: 020 7742 4000
Martin Salmon / Graham VenablesNorthern TrustTel: 020 7982 2000