Aberdeen Frontier Mkts Inv Co Ltd Publication of Circular - Voluntary winding-up (1248T)
16 Juillet 2020 - 8:05AM
UK Regulatory
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
CIRBLGDRUSBDGGU
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