LONDON (Alliance News) - The Diverse Income Trust PLC and Miton Income Opportunities Trust PLC Monday said the latter's eligible shareholders would receive 7.1965 shares each in the Diverse Income Trust as the two companies merge.
MIOT shares remain suspended following the announcement, which was passed at an extraordinary general meeting early on Monday.
The possibility of a merger was raised on February 15 when MIOT was still known as Henderson Fledgling Trust PLC. Both boards recommended the merger, with the DIVI stating at the time that the merger would increase the liquidity of the shares on the secondary market. The merger was also touted as having the potential to introduce new investors into the DIVI and therefore broadening its base of investors.
The new shares in the DIVI are expected to commence trading on Tuesday.
DIVI shares were Monday quoted at 73.75 pence, down 0.75 pence, or 1.0%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Diverse Inc (DIVI)