Barings Emerging EMEA Board response to latest sanctions against Russia
01 Marzo 2022 - 3:42PM
UK Regulatory
TIDMBEMO
Barings Emerging EMEA Opportunities PLC
(the "Company")
"Finding quality companies from Emerging Europe, the Middle East and Africa"
Board response to latest sanctions against Russia
Following the ongoing announcements from various authorities globally, with
regard to Russian persons and entities subject to sanctions, the Board of
Barings Emerging EMEA Opportunities Plc (the 'Company') confirms that the
Company's Manager is continuing to evaluate the impact of sanctions on the
Company and its portfolio.
The NAV as at 28 February 2022 has been adjusted to reflect the Board's
assessment of Fair Value. Following the restrictions of sales from the Russian
exchange, the Company has seen limitations in the ability to sell Russian
securities and the investments held. Those investments which are listed on the
Moscow Exchange have been valued at zero, until such as time as the market
begins to function in a way deemed appropriate. The remainder of the portfolio
invested in Russia is held in depository receipts, or listed on other
exchanges, which as of today remain tradable and therefore continue to be
marked to market. Any remaining withholding tax relating to Russian stocks has
been valued at zero.
Following the change of investment mandate, previously approved by
shareholders, the weighting of stocks attributable to Russia remaining within
the portfolio has fallen below historic levels. Combined with the sale of
holdings initiated by the Manager in the past few days and the reassessment of
Fair Values, as described above, Russian securities represent 6.29% of NAV (or
£5,366,564) as at 28 February 2022. The Company continues to operate within its
stated objective and investment policies.
The Board and Manager will continue to monitor the situation and make further
adjustments as and when considered necessary to better reflect the Fair Value
of the Company's investments in Russia.
1 March 2022
LEI: 213800HLE2UOSVAP2Y69
Barings Emerging EMEA Opportunities PLC, via J.P. Morgan
Cazenove
Frances Daley (Chairman)
J.P. Morgan Cazenove +44 (0)20 7742
4000
William Simmonds
Media enquiries
Quill PR +44 (0)20 7466
5050
Nick Croysdill, Andreea Caraveteanu
About Barings Emerging EMEA Opportunities PLC
"Finding quality companies from Emerging Europe, the Middle East and Africa."
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.
In November 2020, the Company broadened its investment policy to focus on
growth and income from quality companies in the Emerging Europe, Middle East
and Africa ("EMEA") region. It also changed its name from Baring Emerging
Europe PLC to Barings Emerging EMEA Opportunities PLC at the same time.
For more information, and to sign up for regular updates, please visit the
Company's website: www.bemoplc.com
END
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