Alliance Trust PLC Alliance Trust Plc - Conversion Of Merger Reserve Update
July 06 2021 - 6:05AM
UK Regulatory
TIDMATST
Alliance Trust PLC
Conversion of Merger Reserve Update
Alliance Trust PLC (the "Company") announces that the final
hearing in the Court process to convert its GBP645 million Merger
Reserve into a distributable reserve is expected to be held on 8
July 2021 (the "Final Hearing"). Further details of the proposed
conversion of the Merger Reserve are set out in the Company's
notice of its 2021 annual general meeting (the "Notice"). A copy of
the Notice is available on the Company's website at
www.alliancetrust.co.uk.
As described in the Notice, a bonus issue (the "Bonus Issue") of
deferred shares each having a nominal value to be determined as at
the date of the Bonus Issue (each a "Deferred Share") shall occur
on the evening of 7 July 2021 (being the day before the Final
Hearing). Accordingly, the record time for the bonus issue shall be
6.00 p.m. on 7 July 2021 (the "Record Time"). The nominal value of
each Deferred Share shall be determined as described in the
Notice.
One Deferred Share shall be issued for each ordinary share of
GBP0.025 in issue as at the Record Time. In addition, and as
described in the Notice, the Deferred Shares will not be admitted
to trading on the main market of London Stock Exchange plc or any
other market. No share certificates will be issued in respect of
the Deferred Shares. The Deferred Shares will have extremely
limited rights; in particular, the Deferred Shares will carry no
rights to participate in the profits of the Company and no rights
to participate in the Company's assets, save on a winding up.
Whilst Deferred Shares will be transferable, no market is expected
to exist in them and it is expected that the Court will confirm
their cancellation at the Final Hearing (being the day after their
issue).
The Company will announce the outcome of the Final Hearing on 8
July 2021.
For more information, please contact:
Mark Atkinson Sarah Gibbons-Cook
Head of Marketing and Investor Relations
Alliance Trust PLC Quill PR
Tel: 07918 724303 Tel: 020 7466 5050 /
AllianceTrust@quillpr.com
(END) Dow Jones Newswires
July 06, 2021 07:05 ET (11:05 GMT)
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