Barings Emerging EMEA Opportunities Plc - Net Asset Value and Board Update
PR Newswire
London, March 3
Barings Emerging EMEA Opportunities PLC
(the "Company")
"Finding quality companies from Emerging Europe, the Middle East and Africa"
Net Asset Value and Board Update
Net Asset Value
It is announced that at the close of business on 02 March 2022, the unaudited Net Asset Value ("NAV") per ordinary share valued on a bid price basis, is:
| Including current period revenue to 02 March 2022 | 674.79 pence per ordinary share |
| Excluding current period revenue | 672.03 pence per ordinary share |
Board Update
Since the announcement made on 1 March 2022 to accompany the Company's 28 February 2022 NAV, the Board has further refined the fair value of all the remaining Russian investments held in the portfolio in line with the evolving market situation.
In the Company's NAV as at 2 March 2022, the Board has reassessed its policy announced on 1 March 2022 to mark to market all traded ADR's, GDR's and other stocks listed on exchanges other than the Moscow Stock Exchange. Russian depositary receipts traded on the London Stock Exchange have been valued at zero following their suspension from trading. Holdings in US listed Russian stocks that have been halted from trading have also been valued at zero. The Company has provided for all of the value of any unsettled trades that have fallen past their due date. In line with the policy announced on 1 March 2022, holdings listed on the Moscow Stock Exchange continue to be valued at zero. The Board will continue to follow this policy and make further adjustments as necessary.
Since the 25 February 2022 NAV, calculated at close of business 25 February 2022, when the value of Russian Instruments was last carried at full market value and amounted to 17.60% of NAV the following adjustments have been made: (based on 25 February 2022 valuations)
- a total of £2,694,180 (as at 25 February 2022) of stocks listed on the Moscow Stock Exchange have been valued at £ zero;
- other instruments valued at £13,220,847 (as at 25 February 2022), have either been sold or are now valued at zero. A total of £12,139,575 (at 25 February 2022) have now been valued at zero due to markets for these stocks being suspended;
- the Company has realised £1,747,075 from disposals during the period. At 2 March 2022, a further £26,303 remains unsettled and a full provision has made against this balance.
The value of Russian related instruments included within the NAV is now 0%.
The Board and Manager will continue to monitor the situation and provide further updates as required.
3 March 2022
LEI: 213800HLE2UOSVAP2Y69
| Barings Emerging EMEA Opportunities PLC, via J.P. Morgan Cazenove | |
| Frances Daley (Chairman) | |
| J.P. Morgan Cazenove | +44 (0)20 7742 4000 |
| William Simmonds | |
| Media enquiries | |
| Quill PR | +44 (0)20 7466 5050 |
| Nick Croysdill, Andreea Caraveteanu |
About Barings Emerging EMEA Opportunities PLC
"Finding quality companies from Emerging Europe, the Middle East and Africa."
Barings Emerging EMEA Opportunities PLC (the "Company") is a UK based investment trust that was launched on 18 December 2002 and is managed by Baring Fund Managers Limited.
In November 2020, the Company broadened its investment policy to focus on growth and income from quality companies in the Emerging Europe, Middle East and Africa ("EMEA") region. It also changed its name from Baring Emerging Europe PLC to Barings Emerging EMEA Opportunities PLC at the same time.
For more information, and to sign up for regular updates, please visit the Company's website: www.bemoplc.com
