City Merchants High Yield Trust plc
HEADLINE: Reclassification of shares
Reclassification of Shares
At the General Meeting of the Company held on 22 March 2012, shareholders
approved the proposals for the reconstruction of the Company and the transfer
of assets to City Merchants High Yield Trust Limited, including the
reclassification of certain of the Company's shares as D Ordinary Shares.
Accordingly 12,778 Shares will be reclassified as D Ordinary Shares and
72,786,327 shares will be reclassified as Ordinary Shares with continuation
Application has been made to the UK Listing Authority and the London Stock
Exchange for the listing in respect of the Shares to be amended to reflect the
reclassification of the Shares as Reclassified Shares. It is expected that such
amendment will become effective and dealings in the Reclassified Shares will
commence with effect from 8.00 a.m. on 29 March 2012.
Suspension of Reclassified Shares
It is expected that the listing of the Reclassified Shares will be suspended at
7.30 a.m. on 30 March 2012.
The Scheme remains conditional on the passing of the special resolution which
will be proposed at the general meeting of the Company convened for 30 March
2012. The Scheme will not become effective unless this resolution is passed.
Definitions used herein have the meanings given in the circular to shareholders
dated 23 February 2012.
Invesco Asset Management Limited, Secretaries
28 March 2012