Result of EGM
01 Octobre 2010 - 6:37PM
UK Regulatory
TIDMIEI TIDMIEIA TIDMIEIB
Invesco English and International Trust plc (the "Company")
Results of Second General Meeting and update on portfolio realisation
1 October 2010
Results of General Meeting
The Board of Directors of the Company is pleased to announce that the special
resolution winding up the Company, appointing Sean Croston and Roy Welsby of
Grant Thornton UK LLP as joint liquidators and giving final effect to the
Scheme was duly passed at the Second General Meeting held earlier today.
Accordingly, the Company has now been placed in members' voluntary liquidation
(solvent liquidation).
The Company's Shares with "A" rights and Shares with "B" rights were duly
suspended at 7.30 a.m. this morning.
Portfolio realisation
In the three week period since the First General Meeting on 10 September, the
Company has sold unquoted investments for an amount slightly in excess of the
Directors' estimate of realisable value attributed to the Company's unquoted
portfolio detailed in the Circular. In addition, the quoted investments in the
"A" Fund (representing those shareholders who elected for cash) have been
substantially realised, save for a small number of holdings with a current
market value of approximately GBP600,000 to be realised during the Company's
liquidation.
The Cash Option
The first distribution from the "A" Fund to Shareholders who elected for the
Cash Option will be 235.61p per Share with "A" rights. It is expected that
cheques will be despatched and CREST payments made on 11 October 2010. A second
distribution will be made in due course when the remaining investments in the
"A" Fund have been realised.
The UKSC Option
Shareholders who elected for the UKSC Option will receive approximately 3.31
shares in the Invesco Perpetual UK Smaller Companies Growth Fund for each Share
with "B" rights. It is expected that written confirmations in respect of each
"B" shareholder's holding in UKSC Shares will be despatched during the week
commencing 4 October 2010.
Capitalised terms shall have the meaning attributed to them in the circular
containing detailed proposals for the reconstruction and winding up of the
Company, published on 11 August 2010 (the "Circular") unless otherwise defined.
Contacts:
Grant Thornton UK LLP (Liquidators)
Sean Croston 020 7865 2760
Invesco
Guy Short 020 7065 3555
Tim Mitchell
Collins Stewart
Andrew Zychowski 020 7523 8363
Lucy Lewis 020 7523 8360
Collins Stewart Europe Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting as adviser to Invesco
English and International Trust plc and is acting for no-one else in connection
with the strategic review and the contents of this announcement, and will not
be responsible to anyone other than the Company for providing the protections
afforded to clients of Collins Stewart Europe Limited nor for providing advice
in connection with the strategic review and the contents of this announcement
or any other matter referred to herein. Collins Stewart Europe Limited is not
responsible for the contents of this announcement. This does not exclude or
limit any responsibilities which Collins Stewart Europe Limited may have under
the Financial Services and Markets Act 2000 or the regulatory regime
established thereunder.
END
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