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.