Result of EGM Announcement of Share Class entitlements on Liquidation
December 29 2006 - 6:52AM
UK Regulatory
PREMIUM TRUST PLC
RESULTS OF VOLUNTARY LIQUIDATION
29 DECEMBER 2006
Premium Trust plc announces that at the EGM held today the resolutions before
the meeting were approved. Accordingly, the Company has been placed in members'
voluntary liquidation and Thomas Merchant Burton and Patrick Joseph Brazzill,
both of Ernst & Young LLP, have been appointed liquidators to the Company.
The Articles provide that members' entitlements in the liquidation will be
determined as follows:
(i) first, holders of Income Shares have the right to be paid an amount equal
to the amount standing to the credit of the Company's revenue reserves (as
reduced by the final interim dividend paid on 27 December 2006), including
the amount of the undistributed revenue profits for the current year of the
Company as at the date of the commencement of winding up;
(ii) second, holders of ZDP Shares have the right to receive a final capital
entitlement of 105.05p per ZDP Share;
(iii) third, after the payments of capital to holders of ZDP Shares
described in paragraph (ii) above, holders of Income Shares have the right
to receive a final capital entitlement of 47.7p per Income Shares; and
(iv) fourth, holders of Capital Shares have the right to receive the surplus
assets of the Company available for distribution.
Members' entitlements in the liquidation, calculated in accordance with the
above, are:
* 21.13p per Capital Share;
* 48.21p per Income Share; and
* 105.05p per ZDP Share.
It is expected that the liquidators will make payments pursuant to the
entitlements described above in the week commencing 8 January 2007. The
liquidators may make a further distribution to holders of Capital Shares, at the
conclusion of the liquidation, depending on whether there are surplus assets
remaining. This distribution would include any unapplied part of the retention
fund set aside by the liquidators.
For further information, please contact:
Keith Swinley
Martin Currie Investment Management Ltd
Tel. 0131 229 5252
Nathan Brown
Winterflood Investment Trusts
Tel. 020 7621 5572
Craig Robertson
Ernst and Young LLP
Tel. 0131 777 2242
Note: Capitalised terms shall bear the meanings given to them in the Company's
circular dated
1 December 2006 unless the context otherwise requires.
Premium Trust (LSE:PTTI)
Historical Stock Chart
From Apr 2024 to May 2024
Premium Trust (LSE:PTTI)
Historical Stock Chart
From May 2023 to May 2024