Business
Response to Templeton
Response to Templeton.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n City of London Investment Group PLC\n21 May 2007\n\n\n\n\n\nFor immediate release 21 May 2007\n\n\n CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED\n\n Templeton Emerging Markets Investment Trust PLC\n\n\nIn an open letter to the Chairman of Templeton Emerging Markets Investment Trust\nPLC ('the Company') dated 30th November 2006, City of London Investment\nManagement Company Limited ('City of London') expressed concern regarding both\nthe level of discount at which the Company's shares were trading (approximately\n12.5 per cent) and also the probability of the discount widening further when\nthe emerging markets bull market comes to an end.\n\n\nHaving reviewed today's Press Release from the Company, it is City of London's\nopinion that the Proposals put forward to shareholders, if implemented fully,\nthat is both the capital reorganization and the buy back, will significantly\naddress the points made in our letter.\n\n\nAs a result, City of London have irrevocably agreed to vote in favour of the\nproposals to be placed before shareholders.\n\n\nFor further information contact:\n\nClayton Gillece, Director Simon Hudson / Clemmie Carr\nCity of London Investment Management Tavistock Communications\nCompany\nTel: 020 7711 0771 Tel: 020 7920 3150\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1548,"tagName":"div"}]