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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aberdeen Frontier Markets Investment Company Limited | LSE:AFMC | London | Ordinary Share | GG00B1W59J17 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 41.30 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAFMC
RNS Number : 1248T
Aberdeen Frontier Mkts Inv Co Ltd
16 July 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
16 July 2020
Aberdeen Frontier Markets Investment Company Limited
Publication and posting of Circular
and
Timetable for Cancellation and voluntary winding-up of the Company
Further to the announcement made on 1 July 2020 , Aberdeen Frontier Markets Investment Company Limited (" AFMC " or the "Company") (AIM: AFMC), the closed-end investment company admitted to trading on AIM, announces the publication of a circular (the "Circular") and notice of extraordinary general meeting (the "EGM"), which has been posted to Shareholders for the purpose of proposing a vote on the cancellation of the admission of the Company's ordinary shares to trading on AIM (the "Cancellation"), and the subsequent liquidation of the Company (together, the "Proposals"). The detailed reasons for and background to the Proposals are set out in the Circular. The Cancellation requires the approval of not less than 75 per cent. of the votes cast by Shareholders at the EGM.
The current timetable for the Proposals are as follows:
2020 Latest time and date for receipt of Forms 10:00 a.m. on 7 August of Direction Latest time and date for receipt Forms 10:00 a.m. on 14 August of Proxy EGM Record Time 6:00 p.m. on 14 August Record Date for participation in First 6.00 p.m. on 17 August and Final distribution Expected last day of dealings of Ordinary 17 August Shares on AIM Suspension of Ordinary Shares from trading 7:30 a.m. on 18 August on AIM Time and Date of the EGM 10:00 a.m. on 18 August Announcement of results of EGM 18 August Appointment of Joint Liquidators 18 August Expected time and date of Cancellation 7:00 a.m. on 19 August
If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by announcement through a Regulatory Information Service. All times are references to London time. All events in the above timetable following the EGM are conditional, inter alia, upon the approval of the resolutions.
The Company's shares will be suspended from trading at 7:30 a.m. on 18 August 2020 in advance of the EGM, as the commencement of the liquidation process will render the Company inappropriate for admission to trading on AIM. Conditional on the approval of Shareholders at the EGM, the Board proposes to appoint James Robert Toynton and Benjamin Alexander Rhodes of Grant Thornton Limited as the joint liquidators of the Company (together the "Joint Liquidators"). The Board will continue to manage the Company pending the Cancellation.
Immediately upon and with effect from the appointment of the Joint Liquidators at the EGM, the powers of the Board will cease, the Joint Liquidators will wind up the affairs of the Company, and Admission of the Company's shares to trading on AIM will be cancelled with effect from 7:00 a.m. on 19 August 2020 following which the Company's shares will no longer be tradeable.
No mechanism to enable the Company's shares to be traded following cancellation will be made available to shareholders and the Company's shares will not be transferable once the Company enters liquidation without the consent of the Liquidators.
For further information please contact:
MANAGER: G ary Jones A berdeen Standard Fund Managers Limited (Alternative Investment Fund Manager to Aberdeen Frontier Markets Investment Company Limited) T: +44 (0)20 7463 6000 Gary.Jones@aberdeenstandard.com BROKER: David Benda Numis Securities Limited T: +44 (0) 20 7260 1275 D.Benda@numis.com NOMINATED ADVISER: Philip Secrett Jen Clarke Seamus Fricker Grant Thornton UK LLP T: +44 (0) 20 7383 5100 Philip.J.Secrett@uk.gt.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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July 16, 2020 02:05 ET (06:05 GMT)
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