19th Mar 2009 13:05
ABERDEEN ASSET MANAGEMENT PLC AND
ABERDEEN WARRANTS (JERSEY) LIMITED
CONVERSION OF 6.75% CONVERTIBLE PREFERENCE SHARE UNITS
Aberdeen Asset Management PLC (the "Company") and Aberdeen Warrants (Jersey) Limited ("Aberdeen Warrants") announces that in exchange for an aggregate cash consideration of £2.8 million (of which £1.7 million represents accrued Preference Dividend since the last Dividend Payment Date), investors in the Convertible Preference Share Units have agreed to submit warrant exercise notices for a total of £36.1 million of notional Warrants, representing 47.4% of the £76m Convertible Preference Share Units outstanding on 19 March 2009. The Exercise Price will be satisfied by the delivery of £36.1 million notional of 6.75% Preference Shares to Aberdeen Warrants.
In accordance with their terms, the exercise of Warrants referred to above will result in the issue of 38,371,276 new Ordinary Shares by the Company on the basis of an issue price of 94 pence per Ordinary Share, being the Exchange Price per Ordinary Shares under the terms of the Warrants.
The exercise of Warrants and subsequent issue of new Ordinary Shares is expected to occur on or around 24 March 2009. The new Ordinary Shares will be allotted and issued in uncertificated form through CREST.
Capitalised terms used in this announcement bear the same meanings as those ascribed to them in the prospectus published by the Company and Aberdeen Warrants on 3 June 2005 unless the context otherwise requires.
For further information please contact:
|
Maitland |
|
|
Neil Bennett |
020 7379 5151 |
Related Shares:
ADN.L