Aberforth Geared Income Trust plc ("AGIT") and Aberforth
Split Level Income Trust plc ("ASLIT")
30 June 2017
RESULTS OF GENERAL MEETING, SCHEME OF
RECONSTRUCTION, PLACING AND OFFER FOR SUBSCRIPTION AND APPLICATION
FOR ADMISSION
At a general meeting of AGIT held earlier today the special
resolution proposed to wind up AGIT voluntarily under the
provisions of the Insolvency Act 1986 and appoint Derek Neil Hyslop and Colin Peter Dempster of Ernst & Young LLP as
liquidators was passed by AGIT's Ordinary Shareholders on a show of
hands.
A total of 60.6 million proxy votes were received, representing
55.4 per cent. of the 109.5 million AGIT Ordinary Shares in issue,
in respect of this resolution at the general meeting.
Of the proxy votes cast, over 99 per cent. were cast in favour of
the special resolution. The table, set out at the bottom of
this Announcement, shows the full results of the proxy voting.
Pursuant to the scheme of reconstruction of AGIT under section
110 of the Insolvency Act 1986 (the "Scheme") and the ASLIT
Placing and Offer for Subscription, the Directors of ASLIT have
resolved to allot 190,249,900 million ASLIT Ordinary Shares and
47,562,500 ASLIT ZDP Shares. ASLIT already has 100 ASLIT
Ordinary Shares in issue.
The Scheme has become unconditional.
Application has been made for the ASLIT Ordinary Shares and the
ASLIT ZDP Shares to be admitted to the listing on the premium and
standard segments of the Official List respectively and to trading
on the main market of the London Stock Exchange at 8.00 a.m. on 3 July
2017 ("Admission").
Following Admission ASLIT will have 190,250,000 Ordinary Shares
each carrying one voting right per share and 47,562,500 ZDP Shares
each carrying voting rights in the limited circumstances set out in
the articles of association of ASLIT.
Details of the Proxy Votes
|
For |
Against |
Total
Votes |
Withheld |
| 1) Special Resolution |
60,638,352 |
456 |
60,638,808 |
166,713 |
Given the first special resolution set out in the notice of the
general meeting which was sent to AGIT's shareholders with the
circular dated 19 May 2017 (the
"Notice") was passed by AGIT's Ordinary Shareholders, the
second special resolution set out in the Notice was withdrawn.
A copy of the special resolution passed at the general meeting
has been submitted to the National Storage Mechanism and will
shortly be available for inspection at
www.morningstar.co.uk/uk/NSM.
For further information please
contact:
Investment Managers
Aberforth Partners LLP
+44 (0) 131 220 0733
Euan Macdonald
Alistair Whyte
Advisers to AGIT
Dickson Minto
W.S.
+44 (0) 207 649 6823
Douglas
Armstrong
Advisers to ASLIT
J.P. Morgan Cazenove
(JPMC)
+44 (0) 207 742 4000
William Simmonds
Edward Gibson-Watt
Oliver Kenyon
Kepler Partners
LLP
+44 (0) 203 384 8796
Hugh van
Cutsem