Barings Emerging EMEA Opportunities Plc - Magnit Tender Application
07 Décembre 2023 - 4:05PM
PR Newswire (US)
Barings Emerging EMEA
Opportunities PLC
(the
“Company”)
Magnit Tender
Application
Earlier this year Russian
retailer Magnit announced a tender offer of their shares. After
seeking legal advice that participation in the transaction would be
permissible under the current sanctions regime the Company applied
to tender its shares and can now confirm the
results.
The Board is pleased to
announce that the Company’s application was successful in respect
of all its shares, with the Company tendering 23,826 shares at a
price of RUB 2,215. The proceeds
($578,257.30) have been received into
the Company’s account at State Street and will be reflected in the
net asset value at the next available opportunity. Prior to
realising these shares the holding was valued at zero in the
Company’s net asset value.
Chairman Frances Daley commented: “We view this positive
development as evidence of the latent value of the Company’s
Russian assets and remain focused on how best shareholder value can
be preserved, created and realised in relation to these
holdings.”
7th
December
2023
Barings Emerging EMEA Opportunities PLC, via J.P.
Morgan Cazenove |
|
Frances Daley
(Chairman) |
|
|
|
J.P. Morgan
Cazenove |
+44 (0)20 3493
8000 |
William Simmonds |
|
|
|
Media
enquiries |
|
Quill
PR |
+44 (0)20 7466
5050 |
Nick
Croysdill, Andreea Caraveteanu |
|
About
Barings Emerging EMEA Opportunities
PLC
Barings Emerging EMEA Opportunities PLC (the
“Company”) is a UK based investment trust that was launched on
18 December 2002 and is managed by
Baring Fund Managers Limited.
For more information, and to sign up for regular
updates, please visit the Company’s website:
www.bemoplc.com
Copyright r 07 PR Newswire
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