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   Name - Aberdeen Asia-Pacific Income

    Website - http://www.aberdeenasset.ca

    Symbol - FAP.RT

    Cusip Number - Q0014D 12 3

    Expiry Date - Aug. 21, 2007

     News Release

 

Aberdeen Asia-Pacific Income rights offering

 

2007-07-19 19:56 ET - Rights Offering

TSX bulletin 2007-1036

 

rights symbol:  FAP.RT

Cusip number for rights:  Q0014D 12 3

Shareholder entitlement:  One right for each ordinary share held on the record date

Terms of the rights:  Four rights plus $7.50 for one additional ordinary share

Expiry time:  4 p.m. (Toronto time), Aug. 21, 2007

Ex rights date:  July 23, 2007

Record date:  July 25, 2007

Designated market-maker:  Desjardins Securities Inc.

 

Holders of ordinary shares of Aberdeen Asia-Pacific Income Investment Co. Ltd. at the close on Wednesday, July 25, 2007, will be granted the right to subscribe for one ordinary share for every four ordinary shares held on such record date at a subscription price of $7.50 per ordinary share. The rights are evidenced by transferable rights certificates registered in the names of holders of ordinary shares of record on the record date on the basis of one right for each ordinary share, four rights entitling the holder to subscribe for one ordinary share at $7.50 per ordinary share. The rights will expire at 4 p.m. (Toronto time) on Aug. 21, 2007.

The ordinary shares will commence trading on an ex rights basis at the open on Monday, July 23, 2007, at which time the rights will be posted for trading on a when-issued basis. The offering of rights is not being registered in the United States. Rights certificates will not be forwarded to shareholders who are residents of the U.S. or any of its territories or possessions. The company will notify non-qualifying shareholders that the rights certificates to which they would normally be entitled to will be issued to and held by CIBC Mellon Trust Co. as agent for the account of such shareholders. The subscription agent will use its best efforts to sell the rights allowable to each non-qualifying shareholder, and a cheque representing the pro rata share of any net proceeds from any sale of such rights, will be mailed to the non-qualifying shareholders (to their addresses as at the record date) as soon as possible following the expiry of the right offering.

A registered shareholder who holds shares on behalf of a shareholder who is entitled to participate in the rights offering will have until no later than the sixth day prior to the expiry date to notify the subscription agent in order to participate in the rights offering.

Holders of a rights certificate may subscribe for ordinary shares by completing Form 1 of the face of the rights certificate and forwarding the rights certificate so completed together with payment of $7.50 per share subscribed for to the subscription agent in Toronto so as to be received there prior to the expiry time.

Each holder of a rights certificate who has fully exercised all of the rights will be entitled to subscribe for additional shares, if available, at a price of $7.50 per share. If the total number of shares subscribed for under this additional subscription privilege exceeds the number of shares available, the available shares will be allotted on a pro rata basis. The additional subscription privilege can be exercised by completing Form 2 of the rights certificate. Payment for additional shares must accompany the rights certificate and any excess funds will be returned to such shareholder along with the certificate(s) representing the ordinary shares subscribed for as soon as practicable after the expiry of the rights offering.

No fractional ordinary shares will be issued and a shareholder holding a total number of rights not equally divisible by four will not be entitled to subscribe for an additional offered share with any remainder of less than four rights.

It is anticipated that the rights offering circular and rights certificates will be mailed to shareholders and on or about July 31, 2007. The rights offering circular discloses that the company has retained CIBC World Markets Inc. to form a soliciting dealer group in which members of the Dealers Association of Canada and the Toronto Stock Exchange will be invited to join for the purposes of soliciting subscription for the offered shares. The company will pay a subscription fee of 15 cents per offered share to any member of the soliciting dealer group in respect of each subscription.

Trading and settlement rules

 

Trade dates                               Settlement dates

Aug. 16, 2007                               Aug. 20, 2007
Aug. 17, 2007, and Aug. 20, 2007            Cash next day
Aug. 21, 2007                               Cash same day

1. All trades on Aug. 16, 2007, will be for special settlement on Aug. 20, 2007. These trades will appear on the CDS Clearing and Depository Services Inc. settlement report and will be recorded with a settlement date of Aug. 20, 2007.

2. All trades on Aug. 17, 2007, and Aug. 20, 2007, will trade for cash settlement the following business day. Trades on Aug. 21, 2007, from the open to noon will be for same-day cash settlement.

3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.

4. Should fail positions exist on the expiry date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable. Reference should be made to Rule 5-303. Such demand shall be made before 4 p.m. on the expiry date of Aug. 21, 2007.

 

Investors should contact their brokers for information or advice on their investments.