Aberforth Gd Inc Tt Statement re Reclassification of Shares
June 28 2017 - 9:30AM
UK Regulatory
TIDMAGIT
Date: 28 June 2017
ABERFORTH GEARED INCOME TRUST PLC (the "Company")
Reclassification of the Company's Shares
Further to the proposals for the reconstruction and winding up of the Company
under section 110 of the Insolvency Act 1986 (the "Scheme") and the results of
the elections received under the Scheme which were announced by the Company on
20 June 2017, the Company's shares will be reclassified as follows:
1. 109,500,000 Ordinary Shares will be reclassified as:
(i) 45,007,944 shares with A rights; and
(ii) 64,492,056 shares with C rights,
2. 73,000,000 ZDP Shares will be reclassified as:
(i) 45,886,143 shares with B rights;
(ii) 20,831,735 shares with D rights; and
(iii) 6,282,122 shares with E rights.
Application has been made to the UK Listing Authority and the London Stock
Exchange for the listing in respect of the Company's Shares to be amended to
reflect the reclassification of its Shares as Reclassified Shares. It is
expected that such amendment will become effective and dealings in the
Reclassified Shares will commence with effect from 8.00 a.m. on 29 June 2017.
Suspension of Reclassified Shares
It is expected that the listing of the Reclassified Shares will be suspended at
7.30 a.m. on 30 June 2017.
General
The Scheme remains conditional on, among other conditions, the passing of the
first special resolution to place the Company into members' voluntary
liquidation which will be proposed at the general meeting of the Company
convened for 30 June 2017. The Scheme will not become effective unless that
resolution is passed.
Enquiries:
Investment Managers
Aberforth Partners LLP +44 (0) 131 220 0733
Euan Macdonald
Alistair Whyte
Advisers to the Company
Dickson Minto W.S. +44 (0) 207 649 6823
Douglas Armstrong
Capitalised terms shall bear the meanings given to them in the Company's
Circular dated 19 May 2017 unless the context otherwise requires.
END
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