SCHRODER ASIAN TOTAL RETURN INV CO

Delisting Announcement • Mar 30, 2015

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RNS Number : 8642I

Asian Total Return Invest Co PLC

30 March 2015

30 March 2015

Cancellation of New Zealand Listing

Asian Total Return Investment Company plc (the "Company") announces that it has requested approval from NZX Limited ("NZX") for the listing of its ordinary shares on the NZX Main Board ("NZSX") to be cancelled. NZX has accepted this request and has agreed that the last day of trading of the Company's shares on NZSX will be 5 May 2015, with the shares ceasing to be listed on the NZSX at the close of business on 8 May 2015.  Any shares listed on the NZSX at that time will continue to be listed on the London Stock Exchange.

The Company's shares have been listed on the NZSX since 28 November 1994. The Board decided to seek approval to cancel the NZSX listing because the administrative and compliance costs of maintaining a secondary listing in New Zealand have become disproportionate to the net assets of the Company, which reduced by 50% following a tender offer in 2013. There is a small and decreasing number of shareholders remaining on the New Zealand register as well as a reduced number of trades being undertaken on the NZSX.

Following the cancellation of the NZSX listing, the shares held on the Company's New Zealand branch register will be transferred to the Company's UK register and the Company's ordinary shares will only be quoted on the London Stock Exchange.

A letter explaining the details of the transition, of which a copy is attached to this announcement, will be sent to shareholders on the New Zealand branch register shortly.

Enquiries:

John Spedding

Schroder Investment Management Limited                                       

Tel: 020 7658 3206

30 March 2015

Dear Shareholder,

Cancellation of New Zealand Listing

On 30 March 2015, Asian Total Return Investment Company plc ("ATRIC" or the "Company") announced that it had requested approval from NZX Limited ("NZX") for the listing of its ordinary shares on the NZX Main Board ("NZSX") to be cancelled. NZX has accepted this request and it has been agreed with NZX that the last day of trading of ATRIC's shares on NZSX will be 5 May 2015 and the shares will cease to be listed at the close of business on 8 May 2015.

The Company's shares have been listed on the NZSX since 28 November 1994. The Board decided to seek approval to cancel the NZSX listing because the administrative and compliance costs of maintaining a secondary listing in New Zealand have become disproportionate to the net assets of the Company, which reduced by 50% following a tender offer in 2013. There is a small and decreasing number of shareholders remaining on the New Zealand register as well as a reduced number of trades being undertaken on the NZSX.

Following the Retail Distribution Review in the UK, in an environment where closed ended investment companies are under pressure to reduce costs in order to compete with open ended alternatives, the Board feels it can no longer justify the costs of maintaining a listing in New Zealand.

The timetable for the delisting is as follows:-

30 March 2015 - announcement of results and announcement made to the London and New Zealand Stock Exchanges notifying the intention to delist shares from the New Zealand Stock Exchange

10 April 2015 - Record date for the final dividend

29 April 2015 - Annual General Meeting

30 April 2015 - Final dividend to be paid

5 May 2015 - Final day of trading on the New Zealand Stock Exchange

8 May 2015 - Delisting will take effect

11 May 2015 - New Zealand investors will be able to trade on the London Stock Exchange

On or before 22 May 2015- Share Certificates will be posted to investors previously holding through the New Zealand register

Following the cancellation of the NZSX listing, the shares held on the New Zealand register, maintained by Computershare Investor Services Ltd, will be transferred to the Company's main UK register, maintained by Equiniti Limited, Registrars. Equiniti Registrars will issue certificates to those previously holding shares through the New Zealand register as evidence of your ownership of your shares. No action is required on your part for this transfer. We expect that the certificate will be posted to you within 14 days of the delisting date.

After the delisting, you will be able to trade your shares in the Company on the London Stock Exchange ("LSE") by contacting a New Zealand stockbroker who is able to provide access to that market and they will be able to advise you of the process involved. Alternatively, you can contact a UK stockbroker directly, a list of which can be found on the LSE's website at www.londonstockexchange.com.

The Company's share price, trading information and regulatory announcements can be found on the LSE's website under the security code ATR and also on the Company's own website at www.asiantotalreturninvestmentcompany.com and at www.schroders.co.uk/its. Investors will continue to receive copies of annual and half year financial reports and all other information sent to shareholders directly by the Company, including notices of meetings and proxy voting forms. Proxy votes may be lodged online via Equiniti's website www.shareview.co.uk.

Dividends will be paid in pounds sterling by cheque to registered addresses. However, Equiniti Registrars also offers an international payments service whereby investors can have dividends converted into New Zealand dollars and paid directly into their New Zealand  bank account if they so choose. Details of the service and how to apply are available online at www.shareview.co.uk.

If you wish to hold your shares in paperless form, you will need to contact a New Zealand stockbroker who offers a custodial service and they will be able to make the necessary arrangements once you have received your share certificate. Holding shares through a custodial service will reduce the time that purchases and sales will take to settle, however custodian fees may apply. New Zealand brokers will be able to advise you of their charges.

We would wish to remind all NZ holders that that they may transfer to the UK register in the normal course of business at any time until the shares have been delisted from the NZSX. This will assist those shareholders who may hold on behalf of nominees, and who have an existing arrangement with a UK nominee (CREST). We would propose that any instructions to transfer to a UK nominee must be received by Computershare on or before the last day of trading.

If you have any queries regarding your holding shares, please contact either Computershare Investor Services Ltd on +64 9 488 8777 or Equinti Registrars on +44 121 415 0207. Our New Zealand broker, First NZ Capital Securities Limited, would also be happy to provide assistance with questions relating to trading ATRIC shares on the LSE or custodial services (+64 4 496 5316; contact Peter Irwin).

I would like to thank you for your support and hope that you will continue your interest in the Company.

Yours faithfully

David Robins

Chairman

This information is provided by RNS

The company news service from the London Stock Exchange

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