TORONTO, July 15, 2016 /CNW/ -- Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP)
(the "Company"), a closed-end investment company trading on The Toronto Stock Exchange ("TSX"), announced today that the TSX has
accepted notice of its intention to make a normal course issuer bid, through which the Company will make open market purchases on
the TSX or other Canadian alternative trading systems. During the bid, which will commence July 20,
2016 and end no later than July 19, 2017, the Company may purchase up to 2,608,980 ordinary
shares, which is 5% of the total of the Company's 52,179,616 ordinary shares issued and outstanding as at July 13, 2016. The actual number of shares purchased, the time of the purchases and the prices at which the
shares will be bought will depend upon future market conditions. The Company will not purchase in any 30 day period more than
1,043,592 ordinary shares, being 2% of the 52,179,616 issued and outstanding ordinary shares as at July 13,
2016. The Company will cancel shares purchased under the bid. In the previous 12 months, the Company purchased
307,000 ordinary shares at an average price per ordinary shares of $4.45 under its current
normal course issuer bid which will expire on July 19, 2016.
The Company's directors believe that from time to time the purchase of ordinary shares of the Company may be a worthwhile
investment for the Company that should benefit continuing shareholders. The Company's directors believe that normal course
issuer bid purchases of shares for cancellation may, by reducing the number of outstanding shares, reduce the discount that may
exist between the market price of the shares and the Company's net asset value per share.
Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of
the stock exchanges. The investment return and principal value will fluctuate so that an investor's shares may be worth more or
less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV)
of the fund's portfolio. There is no assurance that a fund will achieve its investment objective. Past performance does not
guarantee future results.
For further information: please contact Investor Relations at 800-992-6341.
If you wish to receive this information electronically, please contact
InvestorRelations@aberdeen-asset.com
aberdeenfap.com
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SOURCE Aberdeen Asia-Pacific Income Investment Company Limited
