Fidelity Asian Values PLC
Correction: Conversion of rights
attaching to Subscription Shares and Final Exercise Date
5 December 2019
The following amendment has been made to the announcement titled
‘Conversion of rights attaching to Subscription Shares and Final
Exercise Date’ which was released on 2
December 2019 at 6.36 p.m.
The date on which all Subscription Rights conferred by the
Subscription Shares will lapse with nil value, if the Trustee does
not exercise the Subscription Rights conferred by the outstanding
Subscription Shares, will be 13 December
All other details remain unchanged.
The corrected announcement is set out below.
Conversion of rights attaching to
Subscription Shares and Final Exercise Date
Further to the announcement on 27
November 2019, Fidelity Asian Values PLC (the "Company")
today announces that it has issued and allotted 3,081,455 ordinary
shares of 25p each in the capital of the Company ("Ordinary
Shares") today. Such issuance was made following the exercise of
3,081,455 subscription shares ("Subscription Shares"), each of
which confers the right to subscribe for one Ordinary Share at a
price of 392.75 pence (the
"Subscription Price") per Subscription Share in the period to
29 November 2019 (the "Final
Total Voting Rights
An application has been made to the Financial Conduct Authority
for admission to the Official List, and to the London Stock
Exchange for the admission to trading on the Main Market, of
3,081,455 Ordinary Shares, ranking pari passu with the Company’s
existing Ordinary Shares. Admission is expected to take place on
6 December 2019.
Conditional on Admission, the Company's issued share capital
will consist of 75,580,889 Ordinary Shares, with each share
carrying the right to one vote, and 8,021,575 Subscription
Shares. The Company holds no shares in Treasury.
Therefore, the total number of voting rights in the Company is
The above figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure and Transparency
Unexercised Subscription Share
29 November 2019 was the final
exercise date for the Subscription Shares. As at the close of
business on the Final Exercise Date, 8,021,575 Subscription Shares
remain unexercised. In accordance with the terms and
conditions on which the Subscription Shares were issued (as set out
in the prospectus published by the Company on 26 October 2016 (the "Prospectus")), the Company
has appointed a final subscription trustee (the "Final Subscription
Trustee"). If the Final Subscription Trustee determines that
the net proceeds of sale after deduction of all costs and expenses
incurred by, and any fee payable to, the Final Subscription Trustee
will exceed the costs of exercising the Subscription Share Rights
then the Final Subscription Trustee will exercise any (or such
proportion as it may in its absolute discretion determine)
unexercised Subscription Rights and sell the resulting Ordinary
The Trustee will distribute pro rata the net proceeds of any
such sale (after deduction of the costs and expenses) to holders of
unexercised Subscription Rights by no later than 24 January 2020, save that, in accordance with
the Prospectus, aggregate entitlements per holder of less than
£5.00 shall be retained for the benefit of the Company.
If the Trustee does not exercise the Subscription Rights
conferred by the outstanding Subscription Shares by 13 December 2019, all Subscription Rights
conferred by the Subscription Shares will lapse with nil value.
The Trustee's decision in respect of the above is final and
binding on all holders of outstanding Subscription Shares.
Capitalised terms shall have the meaning set out in the
Prospectus unless otherwise defined.
FIL Investments International
Natalia De Sousa +44