Fidelity China Special Situations Plc - Results of the Scheme and Issue of New Shares
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO,
This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in
Legal Entity Identifier: 54930076MSJ0ZW67JB75
Proposed combination with abrdn China Investment Company Limited
Results of the Scheme and Issue of New Shares
In connection with the combination of the assets of the Company with the assets of abrdn China Investment Company Limited ("
ACIC
"), which was approved by ACIC Shareholders earlier today, the Board of
The number of New Shares to be issued was calculated based on a FCSS FAV per Share of
Applications have been made for the New Shares to be admitted to listing on the premium segment of the Official List of the
Following the issue of the New Shares noted above, the Company's share capital will consist of 526,804,149 Shares (excluding treasury shares), with each Share holding one voting right, and an additional 85,629,548 Shares held in treasury.
The figure of 526,804,149 Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in voting rights, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.
As set out in the Circular, Overseas ACIC Shareholders will be deemed to have elected for their Basic Entitlement in respect of the Cash Option and to receive New Shares for the remainder of their ACIC Shares. Such New Shares will be issued to the Liquidators as nominees for the relevant Overseas ACIC Shareholder and sold by the Liquidators as nominees in the market for the relevant Overseas ACIC Shareholder (which shall be done by the Liquidators without regard to the personal circumstances of the relevant Overseas ACIC Shareholder and the value of the ACIC Shares held by the relevant Overseas ACIC Shareholder). The net proceeds of such sales will be paid to relevant Overseas ACIC Shareholders entitled to them as soon as reasonably practicable, save that entitlements of less than £5.00 per Overseas ACIC Shareholder will be paid by the Liquidators to the
Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.
For further information please contact:
FIL Investment Services (UK) Limited +44 (0) 20 3986 5367Claire Dwyer Daniel Summerland Dickson Minto Advisers (Sponsor and Financial Adviser) +44 (0) 20 7649 6823Douglas Armstrong Jefferies International Limited (Corporate Broker) +44 (0) 20 7029 8000 Gaudi LeRoux Harry Randall
General
This announcement is not for publication or distribution, directly or indirectly, in or into