Statemnt re Cash Distribution
03 Enero 2003 - 11:28AM
UK Regulatory
RNS Number:7847F
Baring Emerging Europe Trust PLC
3 January 2003
The liquidators of The Baring Emerging Europe Trust PLC (in liquidation) (the
"Company") announce that the full amount due to each warrant holder that elected
for a cash distribution pursuant to the scheme of reconstruction of the Company
under section 110 of the Insolvency Act 1986 (the "Scheme") has been
distributed. Cheques were posted to those warrant holders on 23 December 2002 as
indicated in the reconstruction proposals.
As at 2 January 2003 approximately 54% of the portfolio that comprises the
Liquidation Pool (as defined in the Scheme) had been realised. An initial cash
distribution of US$1.00 per B Share (as defined in the Scheme) is expected to be
distributed on 13 January 2003 to those ordinary shareholders that elected to
receive cash under the Scheme, pro rata to their respective shareholdings on the
effective date of the Scheme. The precise timing of subsequent distributions to
those shareholders will depend upon the progress of the liquidation.
Enquiries:
Michael Denison PricewaterhouseCoopers 020 7212 6360
Michael Nokes Baring Asset Management 020 7762 8405
This information is provided by RNS
The company news service from the London Stock Exchange
END
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