Regulatory News

Albany Investment Trust Plc in members' voluntary liquidation

20 August 2012

Result of the Second General Meeting

The Board of Albany Investment Trust Plc (the "Company") announces that at the Second General Meeting of the Company held today, 20 August 2012, the special resolutions before the meeting were approved by Shareholders.

Accordingly, the Company has been placed in members' voluntary liquidation and Sean Croston and Richard White both of Grant Thornton UK LLP of 30 Finsbury Square, London, EC2P 2YU have been appointed joint liquidators to the Company and have been authorised to apply for the cancellation of the listing of the Company's Shares on the Official List. Any enquiries relating to the shareholder distributions in the liquidation should be directed to Capita Registrars Limited on 0871 664 0321 or, if outside the UK, on +44 20 8639 3399.

The Company's Shares with "A" rights and "B" rights were duly suspended at 7.30 a.m. this morning.

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

Entitlements under the Scheme

In accordance with the Scheme, for every Share held in the Company, Shareholders will receive 5.3779 new shares in Troy Income & Growth Trust plc ("TIGT") or 301.02 pence in cash, or such combination for which Shareholders have elected or are deemed to have elected.

Under the terms of the Proposals, the respective formula asset values of the Company and TIGT were calculated for the purposes of the Scheme at close of business on 16 August 2012. New TIGT Shares will be issued to two decimal places.

TIGT Shares issued in uncertificated form are expected to be credited to the CREST accounts of Shareholders entitled thereto on 21 August 2012.  Certificates in respect of TIGT Shares are expected to be dispatched in the week commencing 27 August 2012.

CREST accounts of Shareholders who elect for cash and who hold their Shares in CREST are expected to be credited and cheques in respect of Shareholders who elect for cash and who do not hold their Shares in CREST are expected to be dispatched in each case by 24 August 2012.

The cancellation of listing of the Reclassified Shares on the Official List will take place at 8.00 a.m. on 19 September 2012 (or as soon as practicable thereafter).

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

Enquiries

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.