REG - Ashoka India Equity - Voluntary Redemption Of Ordinary Shares

Ashoka India Equity Investment TrustAnnouncement

08/08/2025 12:30

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RNS Number : 6383U  Ashoka India Equity Investment Tst  08 August 2025

ASHOKA INDIA EQUITY INVESTMENT TRUST PLC (the "Company")

LEGAL ENTITY IDENTIFIER ('LEI'): 213800KX5ZS1NGAR2J89

08 August 2025

VOLUNTARY REDEMPTION OF ORDINARY SHARES

YOU DO NOT HAVE TO TAKE ANY ACTION IF YOU WISH TO RETAIN YOUR SHARES

The Company operates a voluntary redemption facility through which
shareholders may request the redemption of all or part of their holding of
redeemable ordinary shares of 1p each in the Company ("Ordinary Shares") for
cash on the last business day in September each year.

There is no requirement for shareholders to take any action should they wish
to retain their Ordinary Shares.  As at close of business on 6 August 2025,
the Ordinary Share price was 273.00p and the net asset value ("NAV")
(including current period revenue) was 272.13p per Ordinary Share, therefore
the Ordinary Shares were trading at a 0.32% discount.

From the Company's IPO on 6 July 2018 to 6 August 2025, the Company has
delivered NAV and share price total returns of 177.7% and 163.8%,
respectively, and the Ordinary Shares have traded at an average premium to NAV
per Ordinary Share of 0.5%. Whilst the Company does not follow a benchmark
index, over the same period it has outperformed the MSCI India IMI Index (in
Sterling), which saw a total return of 99.5%, by 78.2%.

A redemption of Ordinary Shares may be subject to income tax and capital gains
tax. In particular, private shareholders who sell their shares via the
redemption mechanism could find they are subject to income tax on the gains
made on the redeemed shares rather than capital gains tax on the sale of their
shares in the market. However, individual circumstances do vary, therefore
shareholders who are in any doubt about the redemption or the action that
should be taken should seek independent professional advice.

None of the Directors of the Company will be redeeming any of their shares
under the redemption facility.

Shareholders submitting valid requests for the redemption of Ordinary Shares
will have their shares redeemed at the Redemption Price.

The Directors may elect, at their absolute discretion, to calculate the
Redemption Price on either of the following bases:

1.    The Redemption Price shall be equal to the Dealing Value per Ordinary
Share calculated as at the appropriate Valuation Point on the appropriate
Redemption Point; or

2.    The Directors may elect to calculate the Redemption Price by
reference to the amount generated upon the realisation of a Redemption Pool
created for the purpose of funding the redemption.

The Directors are minded to approve all valid redemption requests unless there
are exceptional reasons why this would be contrary to the interests of
shareholders.

Shareholders wishing to request the redemption of all or any of their
certificated Ordinary Shares at the proposed Redemption Point should deliver
to the Company's Registrar a duly completed Redemption Request form together
with their share certificate or for uncertificated Ordinary Shares a Transfer
to Escrow ("TTE") instruction in accordance with the timetable set out below.
Redemption Request forms are available from the Company's
website https://www.ashokaindiaequity.com/company-documents
(https://www.ashokaindiaequity.com/company-documents) or from the Company's
Registrar, Computershare Investor Services PLC (details below).

The relevant dates for the September 2025 Redemption Point are outlined below:

 4 September 2025              Latest date for receipt of Redemption Requests and certificates for
                               certificated shares.

 1 p.m. on 4 September 2025    Latest date and time for TTE instructions for uncertificated shares via CREST.

 6 p.m. on 30 September 2025   The Redemption Point.

 On or before 13 October 2025  Company to notify Redemption Price and dispatch redemption monies; or

If the redemption is to be funded by way of a Redemption Pool, Company to
                               notify the number of shares being redeemed. Notification of Redemption Price
                               and dispatch of redemption monies to take place as soon as practicable
                               thereafter.
 On or before 13 October 2025  Balance certificates to be sent to shareholders.

Further details of the redemption facility are set out in the Company's
Articles of Association and are also available from the Company Secretary.

The Directors of the Company have discretion over the operation of the
redemption facility and the calculation of the Redemption Price.

Defined terms in the announcement have the same meaning as set out in the
Articles of Association, a copy of which may be obtained from the Company
Secretary.

Enquiries:

Company Secretary

 NSM Funds (UK) Limited  +44 (0) 20 3697 5770

                         ashoka@nsm.group

 

Registrar

 

Computershare Investor Services PLC
 
    +44 (0) 370 703 6077

The Pavilions

Bridgwater Road

Bristol

BS13 8AE

 

If you have any questions, please call Computershare Investor Services PLC on
+44 (0) 370 703 6077. Calls are charged at the standard geographic rate and
will vary by provider. Calls outside the United Kingdom will be charged at the
applicable international rate. The helpline is open between 9.00 am - 5.30 pm,
Monday to Friday excluding public holidays in England and Wales.  Please note
that Computershare Investor Services PLC cannot provide any financial, legal
or tax advice and calls may be recorded and monitored for security and
training purposes.

 

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