16 Oct 2020 17:09
JPMORGAN BRAZIL INVESTMENT TRUST PLC (the "Company")
Publication and posting of Circular
and
Timetable for suspension and cancellation of the Company's listing and trading and voluntary winding-up of the Company
16 October 2020
Legal Entity Identifier: 5493002T5BE3YCTKTE20
Further to the announcement made on 17 September 2020, the Company announces the publication of a circular (the "Circular") and notice of general meeting (the "GM"), which has been posted to Shareholders for the purpose of proposing a vote on the liquidation of the Company (the "Proposals"). The detailed reasons for and background to the Proposals are set out in the Circular. The Circular also contains details of the timetable for the suspension and cancellation of the Company's listing and trading. The Proposals requires the approval of not less than 75 per cent of the votes cast by Shareholders at the GM.
The Circular will be available to download from the Company website (www.jpmbrazil.co.uk) and National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism.) shortly.
The current timetable for the Proposals are as follows:
2020 | |
Publication of circular | 16 October |
Date from which it is advised that dealings in Ordinary Shares should only be for cash settlement and immediate delivery of documents of title | close of business on 12 November |
Latest time and date for receipt of Forms of Proxy from Shareholders for use at the General Meeting | 11.00 a.m. on 12 November |
Latest time for delivery to Registrars of documents of title relating to dealings in Ordinary Shares subject to cash settlement | 5.00 p.m. on 13 November |
Close of the Register and Record Date for participation in the Members' Voluntary Liquidation | 6.00 p.m. on 13 November |
Suspension of Ordinary Shares from trading on the London Stock Exchange and suspension of listing on the Official List | 7.30 a.m. on 16 November |
General Meeting to approve the Members' Voluntary Liquidation and, if approved, the appointment of the Joint Liquidators | 11.00 a.m. on 16 November |
Announcement of the result of the General Meeting | 16 November |
Cancellation of the listing of the Ordinary Shares on the Official List and cancellation of admission to trading of the Ordinary Shares on the Main Market | 8.00 a.m. on 17 November |
Expected date for payment of Initial Distribution* | on or about 27 November |
* Actual date to be determined by the Joint Liquidators
All references are to London time.
The dates and times set out in the expected timetable above may be adjusted by the Company, in which event details of the new dates and/or times will be notified to the FCA and the London Stock Exchange, and an announcement will be made through a Regulatory Information Service.
The Company's shares will be suspended from trading at 7:30 a.m. on 16 November 2020 in advance of the GM. Conditional on the approval of Shareholders at the GM, the Board proposes to appoint Patrick Brazzill and Richard Barker of Ernst & Young LLP as the joint liquidators of the Company (together the "Joint Liquidators").
Immediately upon and with effect from the appointment of the Joint Liquidators at the GM, the powers of the Board will cease, the Joint Liquidators will wind up the affairs of the Company, and listing of the Ordinary Shares on the Official List and admission to trading of the Ordinary Shares on the Main Market will be cancelled with effect from 8.00 a.m. on 17 November 2020 following which the Company's shares will no longer be tradeable.
No mechanism to enable the Company's shares to be traded following cancellation will be made available to shareholders and the Company's shares will not be transferable once the Company enters liquidation without the consent of the Liquidators.
Enquiries:
JPMorgan Funds Limited Katie Standley Fin Bodman
| 020 7742 4000 |
Numis Securities Limited David Benda George Shiel
| 020 7260 1000 |