Advance Developing Markets Fund Ltd Acquisition of Investment Manager by Aberdeen (0230Z)
15 Septembre 2015 - 8:00AM
UK Regulatory
TIDMADMF TIDMADN
RNS Number : 0230Z
Advance Developing Markets Fund Ltd
15 September 2015
ADVANCE DEVELOPING MARKETS FUND LIMITED:
Acquisition of Investment Manager by Aberdeen
15 September 2015
The Board of Advance Developing Markets Fund Limited ("ADMF")
announces that it has been informed by Advance Emerging Capital
Limited ("AEC"), the investment manager of ADMF, that an agreement
has been reached with Aberdeen Asset Management PLC ("Aberdeen")
whereby Aberdeen will acquire 100% ownership of AEC.
The transaction is subject, inter alia, to regulatory approval
from the UK Financial Conduct Authority and is expected to complete
during the fourth quarter of 2015.
The Board of ADMF is supportive of the transaction. The
investment management team of AEC will remain unchanged and AEC is
expected to benefit from the significant additional resources
available from within Aberdeen.
Further details of the transaction can be found on Advance
Emerging Capital's website:
www.advance-emerging.com
Enquiries:
Advance Emerging Capital (investment manager to ADMF)
Andrew Lister or Bernard Moody +44 (0)20 7016 0030
Email: alister@advance-emerging.com
bmoody@advance-emerging.com
Westhouse Securities (Financial adviser and broker to ADMF )
Alastair Moreton +44 (0)20 7601 6118
Email: alastair.moreton@westhousesecurities.com
This information is provided by RNS
The company news service from the London Stock Exchange
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