PR Newswire
London, April 26
Baring Emerging Europe PLC
Share buy-back programme
Baring Emerging Europe PLC (the Company) is restating on an RNS the details of its current share buyback authority. This authority is renewed annually and it is expected that similar announcements will be made at the time of each renewal.
The Company announces that it has authority to repurchase a maximum of 2,139,598 of its ordinary shares (being its outstanding shareholder authority). Such authority lasts until the next shareholder authority is granted, or where expressly revoked by shareholders. The buyback may be funded from the Company's own cash resources or, if appropriate, from short term borrowings. No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buy-back which would equate to a premium on the net asset value.
The Company instructs J.P. Morgan Securities plc to act as its broker in respect of its buy-back transactions. These will be undertaken pursuant the Company's discount management programme and its effect will be to reduce the number of shares of the Company in issue.
This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.
