Jadestone Energy Regulatory News (JSE)

14 Apr 2005 10:07

Jupiter Second Enhanced Inc.Tst.PLC14 April 2005 The Board of Jupiter Second Enhanced Income Trust PLC wish to draw shareholdersattention to the following announcement made by Martin Currie Enhanced IncomeTrust PLC today 14th April 2005 "Martin Currie Enhanced Income Trust PLC Proposed reconstruction Martin Currie Enhanced Income Trust PLC (the "Company") was launched in 1999with a fixed winding-up date of 30 June 2005. At the time of the Company'slaunch the directors stated that it was their intention, prior to the winding-update, to consider ways in which shareholders might continue their investmentbeyond that date if they so wished and to defer crystallisation of liabilitiesto capital gains tax. The final entitlement of zero dividend preference ("ZDP") shareholders iscurrently covered approximately 1.5 times and, as such, the Board expects that,on a winding-up, ZDP shareholders will receive their full entitlement of 158.7pper ZDP share. In accordance with the Company's articles of association theassets remaining thereafter would be distributed to the ordinary shareholders. Having consulted with major shareholders, the Board has evaluated a number ofproposals which would provide holders of both ordinary and ZDP shares with theopportunity to continue their investment beyond 30 June 2005. The Company announces that, as a result of the Board's evaluation exercise, ithas reached agreement in principle with the board of Jupiter Second EnhancedTrust plc ("Jupiter Second Enhanced") and its manager, Jupiter Asset ManagementLimited, which enables the Board to propose to shareholders a scheme ofreconstruction under which existing shareholders in the Company would have theopportunity to roll their investment over into shares in Jupiter Second Enhancedon or before 30 June 2005. The scheme, as currently envisaged, would alsoprovide shareholders with the opportunity to receive cash or to roll theirinvestments over into units in the Jupiter Cash Fund, a cash unit trust. The Company expects to post a circular to shareholders as soon as practicablegiving full details of the proposals and convening the required ExtraordinaryGeneral Meetings." Enquiries: Richard PavryJupiter Asset Management Limited020 7412 0703rpavry@jupiter-group.co.uk This information is provided by RNS The company news service from the London Stock Exchange