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4 December 2012
The Board has sent to holders of Subscription Shares a circular (the "Circular") reminding them that they have the right ("Subscription Right") (but not the obligation) to convert their Subscription Shares into Ordinary Shares of 10p each of the Company (the "Ordinary Shares") on the final subscription date. The final subscription date is 31 December 2012 and the exercise price is 245p per share.
Each Subscription Share confers the right, exercisable by notice to the Company in the 28 days preceding each of 31 December, 31 March, 30 June and 30 September (each a "Subscription Date") up to and including December 2012 (the "Subscription Period") and upon payment of the relevant subscription price (the "Subscription Price"), to convert the Subscription Share into one Ordinary Share in the Company on the same terms throughout the Subscription Period.
The Company's directors make no recommendation as to whether you should convert your Subscription Shares.
We would urge all Subscription shareholders to consider whether they wish to convert their Subscription shares into Ordinary Shares on 31 December 2012. By way of reference, for the period between 30 September 2012 and 30 November 2012, the Ordinary Shares traded at prices between 233.75p and 244.75p per share. The current subscription price is 245p per share for the remaining subscription date of 31 December 2012. Investors should seek independent financial advice if they are unsure about what action to take.
The terms and conditions of the Subscription Shares allow for the Subscription Shares to be held in certificated form, by which they are evidenced by a Subscription Share certificate, or in uncertificated form (i.e. in CREST), in accordance with the Uncertified Securities Regulations 2001. Accordingly, the procedure for exercising Subscription Rights depends on whether the Subscription Shares are held in certificated form or uncertificated form. Full details of the procedure are set out in the Circular.
The Ordinary Shares resulting from the exercise of the Subscription Rights will rank pari passu with the Ordinary Shares then in issue (save for any dividends or other distributions declared, made or paid on the Ordinary Shares by reference to a record date prior to the allotment of the relevant Ordinary Shares).
The Ordinary Shares arising on the exercise of Subscription Rights will be allotted within 14 days of the relevant Subscription Date (and with effect from the Subscription Date) or such later date as may be necessary to ensure the correct treatment of entitlement to dividends.
The information in this announcement should be read in conjunction with the full text of the Circular dated 4 December 2012. Capitalised terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.
The Circular is being published in hard copy format and an electronic copy of the Circular will also shortly be available to download from the Company's website http://www.schroderasiapacificfund.com. Please click on the following link to view the document.
The Company has submitted its Circular to the National Storage Mechanism and it will shortly be available for inspection at www.Hemscott.com/nsm.do.
Schroder Investment Management Limited Tel: 020 7658 3206
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