Barings Emerging EMEA Opportunities

Barings Emerging EMEA Opportunities PLC

(the “Company”)

Magnit Tender Application

Earlier this year Russian retailer Magnit announced a tender offer of their shares. After seeking legal advice that participation in the transaction would be permissible under the current sanctions regime the Company applied to tender its shares and can now confirm the results. 

The Board is pleased to announce that the Company’s application was successful in respect of all its shares, with the Company tendering 23,826 shares at a price of RUB 2,215. The proceeds ($578,257.30) have been received into the Company’s account at State Street and will be reflected in the net asset value at the next available opportunity. Prior to realising these shares the holding was valued at zero in the Company’s net asset value.

Chairman Frances Daley commented: “We view this positive development as evidence of the latent value of the Company’s Russian assets and remain focused on how best shareholder value can be preserved, created and realised in relation to these holdings.”

7^thDecember 2023

About Barings Emerging EMEA Opportunities PLC

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.

For more information, and to sign up for regular updates, please visit the Company’s website: www.bemoplc.com