Last checked at 9 Aug 2011 17:05
ABERFORTH GEARED CAPITAL & INCOME TRUST PLC
(IN MEMBERS' VOLUNTARY LIQUIDATION)
RESULT OF GENERAL MEETING HELD ON 9 AUGUST 2011
Further to the proposals for the reconstruction and winding up of the Company which were announced on 28 June 2011, the special resolution placing the Company into members' voluntary liquidation to permit the implementation of the Scheme was duly passed at the General Meeting held earlier today.
For the purposes of the Scheme, the aggregate value of the total net assets of the Company is £80.4 million, equating to 532.36p per share with A Rights and C Rights and 100.00p per share with B rights and D Rights respectively. Assets have been allocated to the Income Rollover Fund, the Capital Rollover Fund and the Liquidation Fund in proportion to elections received, and deemed elections, as announced on 28 July 2011. Cheques are expected to be dispatched and CREST payments made to Shareholders in respect of cash elections under the Scheme as soon as practicable. Any remaining balances in the Liquidation Fund will be distributed to Income Shareholders and Capital Shareholders in due course.
Share certificates in respect of New AGIT Shares will be issued to those Shareholders who elected to receive New AGIT Shares on 15 August 2011 (or as soon as practicable thereafter).
A copy of the resolution passed at the General Meeting will shortly be available for inspection via the National Storage Mechanism.
Enquiries:David Ross 0131 220 0733 John Evans Alan Waite Aberforth Partners LLP Douglas Armstrong 020 7628 4455 Dickson Minto W.S.
Capitalised terms shall bear the meanings given to them in the Company's Circular dated 28 June 2011 unless the context otherwise requires.
XLON