Advance Developing Markets Fund's tender offer for up to 10% of its shares was over-subscribed with 45,252,788 shares - 78.4% of the total in issue - tendered.

The basic entitlement of all shareholders who validly tendered their shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 1.3257% of the excess shares tendered.

A total of 5,769,467 shares will be repurchased and cancelled - 10% of the company's shares in issue when the offer was announced on 7 May.

At 1:50pm: (LON:ADMF) Advance Developing Markets Fd Ltd share price was +1.5p at 425.5p