Taiwan Inv.Trust PLC - Result of EGM
27 Juillet 1999 - 7:16PM
UK Regulatory
RNS No 1052f
TAIWAN INVESTMENT TRUST PLC
27 July 1999
Taiwan Investment Trust PLC
Taiwan Investment Trust PLC announces that at the Second
Extraordinary General Meeting on 27th July 1999 the
special resolution to wind-up the Company was passed and
that accordingly all the conditions for the
implementation of the Scheme for the reconstruction of
the Company have now been satisfied.
The Residual Net Asset Value as at 26th July 1999, prior
to the deduction of the amount due to Warrantholders was
102.23p per share. The average middle market price of
the Warrants for the ten consecutive dealing days prior
to suspension was 22.6p making the Residual Net Asset
Value 97.71p per Share. On application of the Warrant
formula, Warrantholders will receive the equivalent of
22.6p per Warrant.
Contract notes for Taiwan Portfolio Shares or cheques in
respect of cash entitlements will be despatched to
Shareholders and Warrantholders on 30th July 1999 or as
soon as possible thereafter.
The Residual Net Asset Value referred to above does not
take into account assets currently valued at
approximately #7 million which exist in the form of bonus
entitlements to shares which have not yet been delivered
to the Company. As announced previously, Jupiter Tyndall
Global Fund, or the Liquidator, as appropriate, will sell
these assets as they become available and it is expected
that further Taiwan Portfolio Shares and/or a further
cash distribution equivalent to the total value of these
assets (as valued immediately prior to such further
distribution) will be made to Shareholders and
Warrantholders by the end of September 1999.
The definitions in this announcement have the same
meaning as those in the Circular dated 23rd June 1999.
Enquiries:
Philip Butt Tel: 0171 412 0703
Jupiter Asset Management
Ravi Anand Tel: 0171 336 2234
HSBC Investment Bank Plc
END
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