NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, NEW ZEALAND, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
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 31 January 2017
of Tender Offer shares to uncertificated
shareholders
Despatch of settlement proceeds by cheque in by 3 February 2017
respect of Tender Offer shares to certificated
shareholders
Unless otherwise stated, all references to time in this document are to London
time.
Enquiries:
Steven Bates
Chairman, Baring Emerging Europe PLC
Tel: 020 7982 1263
William Simmonds
J.P. Morgan Cazenove
Tel: 020 7742 4000
Martin Salmon / Graham Venables
Northern Trust
Tel: 020 7982 2000