Baring Emerging Europe plc commences an Equity Buyback Plan for 1,952,833 shares, representing 14.99% of its issued share capital, under the authorization approved on January 10, 2019.
January 10, 2019 at 12:00 am
Share
Baring Emerging Europe plc (LSE:BEE) commences share repurchases on January 10, 2019, under the program mandated by the shareholders in the Annual General Meeting held on January 10, 2019. As per the mandate, the company will repurchase up to 1,952,833 shares, representing 14.99% of its issued share capital. The minimum price which may be paid per ordinary share will be 10 pence. The maximum price which may be paid for an ordinary share is an amount equal to the highest of 105% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange plc Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The repurchased shares will either be cancelled or sold or dealt with as treasury shares. The authority shall expire at the conclusion of the next Annual General Meeting in 2020 or July 10, 2020, whichever is earlier. As at November 21, 2018, the company had 16,345,783 shares in issue and 3,318,207 were held as treasury shares.
J.P. Morgan Securities plc acted as broker to the company.
Barings Emerging EMEA Opportunities PLC is a United Kingdom-based investment company. The Companyâs investment objective is to achieve capital growth, principally through investment in emerging and frontier equity securities listed or traded on Eastern European, Middle Eastern and African (EMEA) securities markets. The Company may also invest in securities, in which the majority of underlying assets, revenues and/ or profits are, or are expected to be, derived from activities in EMEA but are listed or traded elsewhere. The Company selects investments through a process of bottom-up fundamental analysis, seeking long-term appreciation through investment in mispriced companies. The Company invests in various sectors, including financials, materials, communication services, consumer discretionary, real estate, industrials, consumer staples, energy, information technology and utilities. The Companyâs alternative investment fund manager (AIFM) is Baring Fund Managers Limited.
Baring Emerging Europe plc commences an Equity Buyback Plan for 1,952,833 shares, representing 14.99% of its issued share capital, under the authorization approved on January 10, 2019.
BARINGS EMERGING EMEA OPPORTUNITIES PLC 
