Baring Emerging Europe plc commences an Equity Buyback Plan for 1,801,405 shares, representing 14.99% of its issued share capital, under the authorization approved on January 25, 2022.
February 02, 2022 at 12:00 am EST
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Baring Emerging Europe plc (LSE:BEE) commences share repurchases on February 2, 2022, under the program mandated by the shareholders in the Annual General Meeting held on January 25, 2022. As per the mandate, the company is authorized to repurchase up to 1,801,405 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 2023 or April 22, 2023, whichever is earlier. As of December 3, 2021, the company had 12,017,381 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. Its alternative investment fund manager (AIFM) is Baring Fund Managers Limited.
Baring Emerging Europe plc commences an Equity Buyback Plan for 1,801,405 shares, representing 14.99% of its issued share capital, under the authorization approved on January 25, 2022.
BARINGS EMERGING EMEA OPPORTUNITIES PLC 
