FEML Fidelity Emerging Markets Limited

 
TIDMFEML 
 
Fidelity Emerging Markets Limited (the 'Company') 
 
Legal Entity Identifier: 213800HWWQPUJ4K1GS84 
 
Share buy-back engagement 
 
The Board of Directors (the "Board") of Fidelity Emerging Markets Limited (the 
"Company") (ticker: FEML) is pleased to announce that it has engaged both 
Jefferies International Limited and JP Morgan Cazenove as buy-back agents to 
effect market purchase of shares of behalf of the Company (the "Engagements"). 
 
Pursuant to and during the term of the Engagements, the Company's buy-back 
agents may independently of, and without influence by, the Company, effect on 
-market purchases of Participating Preference Shares of no par value (the 
"Shares") from time to time at its absolute discretion provided that the maximum 
price payable for a Share on the Main Market of the London Stock Exchange plc 
(the "Exchange") is an amount equal to the higher of: 
 
 a. 105 per cent. of the average market value of the Company's Shares as derived 
from the London Stock Exchange Daily Official List for the five business days 
immediately preceding the day on which such Share is contracted to be purchased; 
or 
 b. the higher of the price of the last independent trade and the highest 
current bid stipulated by Article 3(2) of the Commission Delegated Regulation 
(EU/2016/1052). 
 
Share buy-backs under the Engagements will be made pursuant to the authority 
granted to the Company at its general meeting held on 8 December 2022, but the 
Board advises shareholders there can be no certainty that the Company will 
acquire any shares under these Engagements. The Engagements will commence with 
effect from today and will, unless extended or terminated earlier, continue 
until the next annual general meeting of the Company to be held on 7 December 
2023, where the Company is seeking a new authority from shareholders to buy back 
Shares. 
 
A buy-back of Shares pursuant to the Engagement on any trading day may represent 
a significant proportion of the daily trading volume in the Shares on the 
Exchange (and could exceed the 25% limit of the average daily trading volume of 
the preceding 20 business days as referred to in the Commission Delegated 
Regulation (EU) No. 2016/1052 on buy-back programmes). 
 
Fidelity Emerging Markets Limited will announce any market repurchase of Shares 
no later than 7.30 a.m. on the business day following the calendar day on which 
the repurchase occurred. To the extent permitted by law, Shares bought back 
under the Engagements can either be held in treasury or cancelled. 
 
For further information, please contact: 
 
Nira Mistry, Company Secretary 
 
+44 (0)7778 354 517 
Rupert Budge 
 
J.P. Morgan Cazenove 
 
+44 207 134 7837 
Gaudi Le Roux 
 
Jefferies International Limited 
 
+44 (0)20 7548 4060 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/fidelity-emerging-markets-ltd/r/share-buy-back-engagement,c3873960 
 
 
END 
 
 

(END) Dow Jones Newswires

November 13, 2023 02:00 ET (07:00 GMT)

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