Frthr recon.detail - Replcmnt
March 05 2002 - 6:25AM
UK Regulatory
RNS Number:4145S
Fleming Inc & Cap Inv Tst PLC
5 March 2002
THE ISSUER ADVISES THAT THIS ANNOUNCEMENT REPLACES THE ANNOUNCEMENT MADE AT
10.08 HRS TODAY UNDER RNS NO. 4044S.
IT CORRECTS THE NUMBERS OF SHARES IN ISSUE. ALL OTHER DETAILS REMAIN UNCHANGED.
THE FULL AMENDED TEXT APPEARS BELOW.
5 March 2002
JPMORGAN FLEMING INCOME & CAPITAL INVESTMENT TRUST PLC (THE "COMPANY")
Further to the announcement made yesterday by The Fleming Income & Capital
Investment Trust plc, this announcement provides further details on JPMorgan
Fleming Income & Capital Investment Trust plc.
The initial gross assets of the Company are approximately £173.52 million which
is broken down as follows:
Per cent. of Gross Assets No. of Shares £m
Bank Debt 19.0% - 33.00
JPMFIC Zeros 38.0% 65,850,982 65.85
JPMFIC Ordinary Shares 43.0% 74,673,900 74.67
100.0% 173.52
The scheme of reconstruction of The Fleming Income & Capital Investment Trust
plc ("FICIT")
The results of the elections under the FICIT's scheme of reconstruction were as
follows:
Proportion electing Proportion electing for cash
for shares in the Company
FICIT Ordinary Income Shares 55.5% 44.5%
FICIT Zero Dividend Preference Shares 59.4% 40.6%
FICIT Units 69.9% 30.1%
Under the Scheme, it has not been necessary for the Directors of the Company, in
conjunction with UBS Warburg, to apply any scaling back to Shareholders whose
elections for JPMFIC Shares have therefore been satisfied in full.
Placing and Offer for Subscription
2,838,564 JPMFIC Zeros have been allotted under the Placing and Offer for
Subscription (including those arising from JPMFIC Units allotted under the
Placing and Offer for Subscription). As priority was given to elections made
under the Scheme by FICIT shareholders, it was not been possible to satisfy in
full the considerable demand for the JPMFIC Zeros under the Placing and Offer
for Subscription.
James Roe, director of The Fleming Income & Capital Investment Trust plc and
JPMorgan Fleming Income & Capital Investment Trust plc said:
"I am very pleased that we have been able to satisfy the strong demand from
FICIT shareholders for a tax-efficient rollover into the new investment trust".
David Barron, vice president, J. P. Morgan Fleming Asset Management (UK) Limited
said:
"JPMorgan Fleming Income & Capital has got off to an excellent start. Investors
continue to appreciate large, liquid and conservatively structured trusts,
especially where there is no exposure to other split-capital trusts in the
portfolio. This is shown by the high level of roll-over elections by Fleming
Income & Capital Shareholders and the over-subscription for the zero dividend
preference shares in the offer for subscription and placing".
Enquiries
J.P. Morgan Fleming Asset Management (UK) Limited
Craig Cleland 020 7742 3418
Robert Peel 020 7742 3422
David Barron 020 7742 3475
UBS Warburg Ltd.
Will Rogers 020 7568 2939
John Korwin-Szymanowski 020 7568 4219
Ivo Coulson 020 7568 0299
Phil Higgs 020 7568 0960
JohnTappenden 020 7568 4678
This information is provided by RNS
The company news service from the London Stock Exchange
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