Requisition of EGM

15 May 2009 09:55



T2 Income Fund Limited

Requisition for EGM 

T2 Income Fund Limited (AIM:T2I) ("T2" or "the Company") today announces that it has received a requisition from members of the Company, acting on behalf of Advance UK Trust PLC and New Star Asset Management acting on behalf of clients, holding in aggregate 11,275,000 ordinary shares, representing approximately 26.2% of the voting rights in the Company, to convene an extraordinary general meeting of the Company (an "EGM"). 

Advance UK Trust PLC and New Star Asset Management, as persons interested in more than ten percent of the Company's shares, have requested that resolutions be put to shareholders in the EGM proposing to remove William Tozier, Saul Rosenthal and Patrick Conroy as directors of the Company and to replace them with Geoffrey Richard Miller as a director of the Company, with immediate effect. In addition, the requisition also seeks shareholder approval to grant options to Mr Miller over 250,000 shares (conditional on his appointment as a director) and to each other continuing director over 50,000 shares (conditional on the removal of Mr Tozier, Mr Rosenthal and Mr Conroy and the appointment of Mr Miller as a director), all such options to be exercisable at a price of 10 pence per share at any time up to the second anniversary of the passing of the relevant resolution.

Shareholders will receive further notification from the Company in due course.

Contacts: 

Patrick Conroy

T2 Income Fund Limited

+1 203 983-5282

Philip Secrett

Nominated Adviser

Grant Thornton UK LLP

+44 (0) 207 383 5100

Michael Wentworth Stanley

JP Morgan Cazenove

+44 (0) 207 588 2828