ADMF Adv.Dev.Mkt Tst

TIDMADMF

RNS Number : 1126G

Advance Developing Markets Fund Ltd

02 May 2014

For release on 2 May 2014

Advance Developing Markets Fund Limited (the "Company")

Conditional tender offer

At the extraordinary general meeting of the Company held on 15 March 2013, shareholders approved proposals for two conditional tender offers in respect of the six month periods ending 31 October 2013 and 30 April 2014. Such conditional tender offers would be made for up to 10% of the ordinary shares in issue at a 1% discount to formula asset value ("FAV"), being the net asset value of the tendered shares less the costs and expenses of the tender offer, if either (i) the Company's ordinary shares trade at an average discount of more than 10% over the period from 1 May 2013 to 31 October 2013 and 1 November 2013 to 30 April 2014 or (ii) the Company's performance over those periods, as measured by its net asset value total return, is less than that of the MSCI Emerging Markets Net Total Return Index in Sterling terms.

In the measurement period ended 30 April 2014, the Company's ordinary shares traded at an average discount of 11.0% and the Company's performance over the same period, as measured by its net asset value total return, was 0.2% below that of the MSCI Emerging Markets Net Total Return Index in Sterling terms. Consequently, the Board will be implementing a tender offer for up to 10% of the Company's shares in issue at a 1% discount to FAV.

The Board intends to send a circular to shareholders in due course providing further details of the terms and conditions of the tender offer. The record date for participation in the tender offer will be 7 May 2014.

For more information please contact:

Westhouse Securities Limited

Financial adviser and broker

Alastair Moreton 020 7601 6118

Hannah Young

Darren Vickers

This information is provided by RNS

The company news service from the London Stock Exchange

END

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