Albany Investment Trust PLC Result of First General Meeting (6987J)

TIDMABNY

RNS Number : 6987J

Albany Investment Trust PLC

09 August 2012

Albany Investment Trust Plc

9 August 2012

Result of the First General Meeting

The Board of Albany Investment Trust Plc (the "Company") announces that at the First General Meeting of the Company held today, 9 August 2012, the special resolution approving, inter alia, the reclassification of the Shares into Reclassified Shares, the amendment of the Company's articles of association and implementation of the scheme of reconstruction of the Company (the "Scheme") was duly passed.

A copy of the special resolution will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.hemscott.com/nsm.do.

Results of Elections

The last date for receiving Forms of Election was 1.00 p.m. on 7 August 2012. The results of the Elections are shown in the table below:

 
 Option             Number       % 
 Rollover Option    7,244,983    72.3% 
 Cash Option        2,778,767    27.7% 
 Total Elections    10,023,750   100.0%

Reclassification of Shares

As a result of the Elections referred to above, 2,778,767 Shares will be reclassified as Shares with "A" rights and 7,244,983 Shares will be reclassified as Shares with "B" rights.

Application will be made to the UK Listing Authority and the London Stock Exchange for the listing in respect of the Shares to be amended to reflect the reclassification of the Shares as Reclassified Shares. It is expected that such amendment will become effective and dealings in the Reclassified Shares will commence with effect from 8.00 a.m. on 17 August 2012.

Suspension of Reclassified Shares

It is expected that the listing of the Reclassified Shares will be suspended at 7.30 a.m. on 20 August 2012. A further general meeting of the Company (the "Second General Meeting") will be held on 20 August 2012 at 12.30 p.m. at which a special resolution will be proposed for the winding-up of the Company, the appointment of liquidators and the grant of appropriate powers to the liquidators (the "Liquidation Resolution") and a special resolution will be proposed to approve the cancellation of the listing of the Company's Shares on the Official List (the "Cancellation Resolution"). The Scheme will not become effective unless, inter alia, the Liquidation Resolution is passed. Shareholder entitlements pursuant to the Scheme will be announced by the Company in due course following the Second General Meeting, assuming that the Scheme becomes effective.

Capitalised terms used in this announcement have the same meaning as in the circular to Shareholders dated 13 July 2012.

Enquiries

 
 William Simmonds 
  J.P. Morgan Cazenove    020 7742 4000

J.P. Morgan Cazenove, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Albany Investment Trust Plc and for no one else, including any recipient of the Circular, in connection with the Proposals and will not be responsible to anyone other than Albany Investment Trust Plc for providing the protections afforded to clients of J.P. Morgan Cazenove or for providing advice in relation to the Proposals or any other matter referred to therein.

 
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This information is provided by RNS

The company news service from the London Stock Exchange

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