NOT FOR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA,
AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
Ashmore Global Opportunities
Limited
(the "Company")
a Guernsey incorporated and registered limited liability
closed-ended investment company with a Premium Listing of its US
Dollar and Sterling share classes on the Official List.
LEI:
549300D6OJOCNPBJ0R33
Proposed de-listing of
shares
19 May 2020
As a result of the managed wind-down of the Company, the
Company's investment portfolio now comprises (a) a minority holding
in AEI Inc. ("AEI"), held directly by the Company and (b) a number
of smaller fund investments managed by the Company's investment
manager, which include a further indirect interest in AEI.
In recent months, the Company's investment manager has had
discussions with third parties regarding the realisation of its
investment in AEI, with the objective of the directors being in a
position to place the Company into liquidation following that
sale. This outcome would also have resulted in the
cancellation of the admission of the Company's shares to listing on
the Official List of the UK Listing Authority and to trading on the
Main Market of the London Stock Exchange, upon the commencement of
the liquidation of the Company.
However, the COVID-19 pandemic has reduced the likelihood of AEI
being sold on acceptable terms in the short to medium term.
The directors continue to be of the opinion that it is in the best
interests of the Company, and its shareholders, for the realisation
of the investment in AEI to be achieved by the Company's investment
manager, overseen by its directors, rather than by a
liquidator. Accordingly, the directors do not consider that
it is appropriate to formally wind up the Company at this
time.
However, the delay in the realisation of AEI has caused the
directors to assess whether it remains in the best interests of the
Company, and its shareholders, for the listing of its shares to
continue.
The considerable costs of maintaining the Company's listed
company status are increasingly disproportionate to the value of
the Company's portfolio, and there are identifiable cost savings
that can be achieved by a cancellation of the listing.
Accordingly, the directors intend to shortly bring forward
proposals to shareholders to delist from the public markets in the
coming weeks. The Company's status as a Guernsey-regulated
investment fund would continue notwithstanding such delisting and
the Company's objective would remain the orderly disposal of AEI,
as well as the remaining fund investments, as soon as
sensible. Consideration will be given to appointing a
liquidator, and the commencement of the formal winding up of the
Company, following the disposal of AEI.
All Enquiries:
Northern Trust International Fund Administration Services
(Guernsey) Limited
Tel: +44 (0) 1481 745001