Aberdeen Private Equity Fund Ltd Second Compulsory Redemption of Shares (0864P)

TIDMAPEF

RNS Number : 0864P

Aberdeen Private Equity Fund Ltd

23 May 2018

23 May 2018

Aberdeen Private Equity Fund Limited (the "Company")

SECOND COMPULSORY REDEMPTION OF SHARES

   --      REDEMPTION DATE 31 MAY 2018 
   --      THE COMPANY WILL RETURN GBP3.0 MILLION TO SHAREHOLDERS 
   --      REPRESENTS 71.3% OF NET ASSETS AT 30 APRIL 2018 

Further to the Company's previous announcements and as per the Compulsory Redemption mechanism outlined in the Company's Circular dated 1 February 2018, the Board of Directors of Aberdeen Private Equity Fund Limited is pleased to announce a second capital distribution in respect of the Company's Ordinary shares (the "Redemption"). The Company has resolved to return a total of GBP3.0 million (the equivalent of approximately 71.3% of net assets as at 30 April 2018) to Shareholders on the register as at close of business on 30 May 2018 (the "Redemption Record Date") by way of a compulsory partial redemption of Shares.

The number of shares to be redeemed in aggregate in this second redemption represents approximately 50% of the Company's issued share capital as at close of business on the Redemption Record Date. The percentage of Shares being redeemed has been determined at the Directors' sole discretion, as set out previously in the announcement of 4 April 2018, and does not relate to the percentage of proceeds being distributed.

Payment will be made on 5 June 2018 being the redemption payment date (the "Redemption Payment Date"). The redemption price will be 11 pence for each Share being redeemed (the "Redemption Price"). The Redemption will be effected pro rata to the holdings of Shares on the register on the Redemption Record Date.

The Company currently has 54,499,020 Shares in issue. All of the Shares redeemed will be cancelled and any fractions of shares will be rounded down to the nearest whole share as appropriate.

All existing Shares will be traded under the existing ISIN number GG00BD5G6386 (the "Old ISIN") until close of business on the Redemption Record Date. The Shares being redeemed will be disabled in CREST after close of business on the Redemption Record Date and the Old ISIN will expire. These shares will be cancelled and all proceeds of the Redemption will be paid in pounds Sterling on or around the Redemption Payment Date.

The new ISIN number GG00BFNS0161(the "New ISIN"), in respect of the remaining Shares which have not been redeemed, will be enabled and available for transactions from 08:00 on 31 May 2018. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

Inclusive of this redemption, the Company will have returned GBP151.6 million to Shareholders, or approximately 93.7% of the Company's 30 November 2017 NAV, the prevailing NAV at the time when the Company announced it had entered into a Sale and Purchase Agreement to sell its entire investment portfolio. A final pre-liquidation redemption may be paid in June as explained in the Circular.

Expected timetable:

 
  Redemption Record Date     30 May 2018 
-------------------------  ------------- 
  Redemption Date and        31 May 2018 
   new ISIN enabled 
-------------------------  ------------- 
  Redemption Payment Date    5 June 2018 
   (on or around) 
-------------------------  ------------- 
 

Terms not defined in this announcement shall have the same meaning as those defined in the Circular.

LEI: 213800V526XNYNLZPV78

For further information, please contact:

Ipes (Guernsey) Limited

Nicholas Robilliard

T: [phone]

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May 23, 2018 11:31 ET (15:31 GMT)