Ashoka WhiteOak Emerging Markets Trust Plc - Transaction Update

28 October 2024

LEI: 254900Z4X5Y7NTODRI75

Ashoka WhiteOak Emerging Markets Trust plc

(the `Company')

Transaction Update

The Company notes the announcement released today by Asia Dragon Trust plc ("Asia Dragon") regarding the conclusion of its strategic review, announced on 21 May 2024. As part of this strategic review, the Company was invited to present its proposals (announced on 7 May and supported in principle by a majority of Asia Dragon shareholders at that time) to the board of Asia Dragon on 27 August 2024.

Through access to the extensive resources of the experienced WhiteOak team, the Company continues to deliver leading NAV performance amongst the globally diversified AIC Global Emerging Markets peer group over the past year. This compelling track record, combined with a shareholder-friendly fee structure and strong alignment with WhiteOak, has led the Company's shares to trade at a significantly superior rating versus its peers and enabled the issuance of new shares.

The Company looks forward to continuing this track record of delivering organic growth through investment performance and share issuance, while also remaining alert to further potential growth opportunities that may arise.

For further information:

JTC Group (Company Secretary)  020 7409 0181

[email protected]

WhiteOak Capital Partners Pte Ltd.  Via Burson Buchanan

Prashant Khemka

Fadrique Balmaseda

Ben Hayward

Marex (Corporate Broker)   020 7016 6704

Oliver Kenyon     

Priyan Rayatt     

Mark Thompson    

Eddie Nissen     

Burson Buchanan (Public Relations)   020 7466 5000

[email protected]

Henry Harrison-Topham

Henry Wilson

Samuel Adams

About Ashoka WhiteOak Emerging Markets Trust plc

Ashoka WhiteOak Emerging Markets Trust plc (AWEMT) is a UK investment trust seeking to achieve long-term capital appreciation primarily through investing in a multi-cap portfolio of equities that provide exposure to global emerging markets. AWEMT is advised by WhiteOak Capital Partners Pte. Ltd, founded by Prashant Khemka with leading Emerging Markets investment experience. WhiteOak Capital Group has delivered an exceptional track record for its other strategies and has £6.4 billion in assets under management or advisory. WhiteOak Capital Group pursues a disciplined research process underpinned by its proprietary frameworks OpcoFinco™ for valuation and ABLExTM for ESG research. While Emerging Markets remain under-researched and inefficient, AWEMT leverages WhiteOak's investment approach to capture the higher alpha potential in these markets. There is no fixed management fee, instead the Investment Manager is remunerated solely as a function of outperformance over the benchmark and hence is directly aligned with shareholders' interests.