Last checked at 5 Feb 2009 09:37
RIS ANNOUNCEMENT
F&C COMMERCIAL PROPERTY TRUST LIMITED
FOR IMMEDIATE RELEASE
Continuation vote
5 February 2009
The Board of F&C Commercial Property Trust Limited (the "Company") refers to the prospectus published by the Company on launch in March 2005 and to the extraordinary general meeting (the "First Continuation EGM") held by the Company on 28 September 2007 at which a resolution was passed to continue the Company.
The circular (the "Circular") published by the Company to convene the First Continuation EGM stated that, in the event that that resolution was passed, the Directors would convene another extraordinary general meeting to consider the continuation of the Company if the Company's shares traded at a discount of over 5 per cent. for 90 dealing days or more following the first anniversary of the First Continuation EGM.
The Company announces that, as at close of business yesterday, the Shares had traded at a discount of over 5 per cent. to their net asset value for 90 continuous dealing days following the first anniversary of the First Continuation EGM. In accordance with the intention stated in the Circular, the Directors therefore intend to convene another extraordinary general meeting to consider a resolution (the "Resolution") to approve the continuation of the Company.
The Company will publish a circular convening an extraordinary general meeting to be held in April or early May 2009 (the "Second Continuation EGM") to consider the Resolution. All Shareholders will be entitled to attend and vote on the Resolution to be proposed at the Second Continuation EGM, which will be proposed as an ordinary resolution.
If the Resolution is not passed then, as stated in the Circular, the Directors will convene a further extraordinary general meeting of the Company to be held within six months of the date of the Second Continuation EGM to consider the winding up of the Company or a reconstruction of the Company which offers all Shareholders the opportunity to realise their investment.
All enquiries
Douglas Armstrong, Dickson Minto WS 020 7628 4455
Nigel Russell/Graeme Caton/Graham Reaves, G&N Collective Funds Services Limited 0131 226 4411
The Company Secretary, Northern Trust International Fund Administration Services (Guernsey) Limited01481 745001
Richard Kirby, F&C REIT Asset Management
0207 016 3577