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Jonathan Agnew From Precy Dumlao, Opalesque Asia:
The Board of Directors of Ashmore Global Opportunities Limited (AGOL), an emerging markets focused investment firm based in Guernsey, UK, has unanimously voted against the “Wind-up Resolution” as they believe the continuation of AGOL is in the best interests of shareholders.
In a circular, Ashmore Global’s Board urged shareholders to reject a resolution proposing the liquidation of the firm. The resolution will be the highlight of discussion during the firm's extraordinary general meeting (EGM) and an annual general meeting (AGM) to be held at Trafalgar Court, Les Banques, St Peter Port, Guernsey on 18 April 2011.
According to the circular, Ashmore Global should continue to function as a firm because of its resilient investment performance over the past 12 months which netted a positive net asset value growth of 6% for the 2010 financial period, excluding the realizations within the Special Situations portfolio announced early this year, as well as returns of capital shareholders amounting to $17.7m last year. However, AGOL shares still continue to trade at a discount to their net asset value (NAV) at levels in excess of 10%.
But the Board believes the fundamentals in attracting investors towards the emerging markets are strong and this should provide strong returns over time.
Jonathan Agnew, Chairman of Ashmore Global Opportunities Limited commented, “The Board beli...................... To view our full article Click here
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