AFMC Aberdeen Frontier Markets Investment Company Limited

TIDMAFMC

RNS Number : 1248T

Aberdeen Frontier Mkts Inv Co Ltd

16 July 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

16 July 2020

Aberdeen Frontier Markets Investment Company Limited

Publication and posting of Circular

and

Timetable for Cancellation and voluntary winding-up of the Company

Further to the announcement made on 1 July 2020 , Aberdeen Frontier Markets Investment Company Limited (" AFMC " or the "Company") (AIM: AFMC), the closed-end investment company admitted to trading on AIM, announces the publication of a circular (the "Circular") and notice of extraordinary general meeting (the "EGM"), which has been posted to Shareholders for the purpose of proposing a vote on the cancellation of the admission of the Company's ordinary shares to trading on AIM (the "Cancellation"), and the subsequent liquidation of the Company (together, the "Proposals"). The detailed reasons for and background to the Proposals are set out in the Circular. The Cancellation requires the approval of not less than 75 per cent. of the votes cast by Shareholders at the EGM.

The current timetable for the Proposals are as follows:

 
                                            2020 
Latest time and date for receipt of Forms   10:00 a.m. on 7 August 
 of Direction 
Latest time and date for receipt Forms      10:00 a.m. on 14 August 
 of Proxy 
EGM Record Time                             6:00 p.m. on 14 August 
Record Date for participation in First      6.00 p.m. on 17 August 
 and Final distribution 
Expected last day of dealings of Ordinary   17 August 
 Shares on AIM 
Suspension of Ordinary Shares from trading  7:30 a.m. on 18 August 
 on AIM 
Time and Date of the EGM                    10:00 a.m. on 18 August 
Announcement of results of EGM              18 August 
Appointment of Joint Liquidators            18 August 
Expected time and date of Cancellation      7:00 a.m. on 19 August 
 

If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by announcement through a Regulatory Information Service. All times are references to London time. All events in the above timetable following the EGM are conditional, inter alia, upon the approval of the resolutions.

The Company's shares will be suspended from trading at 7:30 a.m. on 18 August 2020 in advance of the EGM, as the commencement of the liquidation process will render the Company inappropriate for admission to trading on AIM. Conditional on the approval of Shareholders at the EGM, the Board proposes to appoint James Robert Toynton and Benjamin Alexander Rhodes of Grant Thornton Limited as the joint liquidators of the Company (together the "Joint Liquidators"). The Board will continue to manage the Company pending the Cancellation.

Immediately upon and with effect from the appointment of the Joint Liquidators at the EGM, the powers of the Board will cease, the Joint Liquidators will wind up the affairs of the Company, and Admission of the Company's shares to trading on AIM will be cancelled with effect from 7:00 a.m. on 19 August 2020 following which the Company's shares will no longer be tradeable.

No mechanism to enable the Company's shares to be traded following cancellation will be made available to shareholders and the Company's shares will not be transferable once the Company enters liquidation without the consent of the Liquidators.

For further information please contact:

 
MANAGER: 
 G ary Jones 
 A berdeen Standard Fund Managers Limited (Alternative Investment 
 Fund Manager to Aberdeen Frontier Markets Investment Company 
 Limited) 
 T: +44 (0)20 7463 6000 
 Gary.Jones@aberdeenstandard.com 
BROKER: 
 David Benda 
 Numis Securities Limited 
 T: +44 (0) 20 7260 1275 
 D.Benda@numis.com 
NOMINATED ADVISER: 
 Philip Secrett 
 Jen Clarke 
 Seamus Fricker 
 Grant Thornton UK LLP 
 T: +44 (0) 20 7383 5100 
 Philip.J.Secrett@uk.gt.com 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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