AGE August Equity

RNS Number:4571Y
August Equity Trust PLC
15 June 2007


Not for release, publication or distribution, in whole or in part, in or into
the United States, Canada, Australia, South Africa or Japan.

15 June 2007

August Equity Trust plc (the "Company")

Result of EGM

The Board of August Equity Trust plc (the "Company") announces that at the 
Extraordinary General Meeting of the Company held today, the resolutions put to 
the meeting were duly passed.  The results of the resolutions were as follows:

Resolution 1: 16,055,074 votes in favour (99.24%), 121,415 votes against (0.76%)

Resolution 2: 15,930,659 votes in favour (99.23%), 123,415 votes against (0.77%)

Resolution 3: 15,934,659 votes in favour (99.24%), 121,415 votes against (0.76%)

The implementation of the Proposals is conditional on the passing of the
resolutions to be proposed at the Second Extraordinary General Meeting of
Rutland Trust plc on 2 July 2007.  The Company will now be able to commit #30
million to August Equity Partners II subject to agreement of the investment
documentation.

Terms used in this announcement shall have the same meaning as those set out in
the circular to shareholders dated 23 May 2007.  Copies of the resolutions
passed have been submitted to the Document Viewing Facility of the UK Listing
Authority and will shortly be available for inspection at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel. No. (0)20 7066 1000


Expected Timetable
                                                                                              2007

Latest time and date for receipt of Tender Forms and Purchase Forms                            5.00 p.m. on 25
                                                                                               June

Record Date for Tender Offer                                                                   close of business
                                                                                               on 25 June

Calculation Date for Tender Price, terminal asset value of Rutland                             close of business
                                                                                               on 29 June
Trust PLC and issue price of New Shares

Deadline for receipt of applications under the Placing                                         9.00 a.m. on 2
                                                                                               July

Second Extraordinary General Meeting of Rutland Trust PLC                                      9.00 a.m. on 2
                                                                                               July

Tender Price, result of Tender Offer and issue price announced                                 2 July

Effective Date for Rutland Scheme                                                              2 July

Change of name effective                                                                       2 July

Change of investment policy and change of manager effective                                    2 July

New Shares issued, Admission and dealings in New Shares commence                               8.00 a.m. on 3
                                                                                               July

Cheques despatched in respect of proceeds of Tender Offer                                      5 July
and balance certificates despatched in respect of unsold
certificated Shares, certificates in respect of New Shares
despatched, and CREST accounts credited with proceeds of Tender
Offer and unsold uncertificated Shares


Enquiries

John Mackie                                                       020 7632 8200
Chairman, August Equity Trust plc

Richard Green                                                     020 7632 8200
Managing Director, August Equity LLP

Ravi Anand                                                        020 7225 9200
New Star Asset Management Limited

Angus Gordon Lennox                                               020 7588 2828
JPMorgan Cazenove Limited


JPMorgan Cazenove Limited, which is regulated in the United Kingdom by the
Financial Services Authority, is acting for August and no-one else in connection
with the proposals  and will not be responsible to anyone other than August for
providing the protections afforded to clients of JPMorgan Cazenove Limited or
for providing advice in relation to the proposals.

Ernst & Young LLP, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for Rutland and no-one else in connection with the
proposals and will not be responsible to anyone other than Rutland for providing
the protections afforded to clients of Ernst & Young LLP or for providing advice
in relation to the proposals.

This announcement does not constitute, or form any part of, any offer for, or
solicitation of any offer for, securities.  Any acceptance or other response to
the Proposals should be made on the basis of the information contained in the
Circular.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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