21st May 2007 08:50
City of London Investment Group PLC21 May 2007 For immediate release 21 May 2007 CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED Templeton Emerging Markets Investment Trust PLC In an open letter to the Chairman of Templeton Emerging Markets Investment TrustPLC ("the Company") dated 30th November 2006, City of London InvestmentManagement Company Limited ("City of London") expressed concern regarding boththe level of discount at which the Company's shares were trading (approximately12.5 per cent) and also the probability of the discount widening further whenthe emerging markets bull market comes to an end. Having reviewed today's Press Release from the Company, it is City of London'sopinion that the Proposals put forward to shareholders, if implemented fully,that is both the capital reorganization and the buy back, will significantlyaddress the points made in our letter. As a result, City of London have irrevocably agreed to vote in favour of theproposals to be placed before shareholders. For further information contact: Clayton Gillece, Director Simon Hudson / Clemmie CarrCity of London Investment Management Tavistock CommunicationsCompanyTel: 020 7711 0771 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
City Lon InvTempleton Emerging Markets