EGM Statement
December 12 2006 - 3:13AM
UK Regulatory
RNS Number:6916N
JPMorganFleming Income&Growth ITPLC
12 December 2006
JPMorgan Fleming Income & Growth Investment Trust plc
12 December 2006
Result of the First Extraordinary General Meeting and Class Meetings and Result
of Placing and Offer
The Board of JPMorgan Fleming Income & Growth Investment Trust plc (the "Company
") announces that at the Extraordinary General Meeting of the Company held on 11
December 2006 (the "First EGM"), the special resolutions approving the scheme of
reconstruction of the Company (the "Scheme") put to the meeting were duly
passed. The Company also announces that at the separate General Meeting of
holders of Income Shares and the separate General Meeting of holders of Capital
Shares held on 11 December 2006, the extraordinary resolutions approving the
Scheme were duly passed.
Alan Cole, Chairman, said "We are very pleased with the positive response from
existing investors and welcome a number of new investors to the new company.
Based on the current value of the assets, we anticipate that the new company
will have gross assets of approximately #130 million. This successful rollover
shows that the split capital industry remains relevant to investors seeking a
well structured and well managed company."
Result of Elections
The last date for receiving Forms of Election was 8 December 2006. The result of
the elections by shareholders in the Company is as follows:
Number of Number of Number of
Income Shares Capital Shares Units
Elections (and deemed elections) for shares in JPMorgan Income
& Growth Investment Trust plc
Income Shares 31,894,205 2,517,498 36,820
Capital Shares 133,437 27,490,341 2,477
Units 2,146,083 3,091,584 1,990,263
Elections for cash
Cash 44,977,856 46,052,158 499,355
TOTAL 79,151,581 79,151,581 2,528,915
Result of Placing and Offer in JPMorgan Income and Growth Investment Trust plc
In connection with the placing and offer for Income Shares, Capital Shares and
Units in JPMorgan Income and Growth Investment Trust plc, both the bookbuilding
process and the Offer closed at 5.00 p.m. on 8 December 2006.
An aggregate of #12,388,174.80 has been raised under the Placing and #940,800
under the Offer.
In order for JPMorgan Income & Growth Investment Trust plc ("JIGIT") to achieve
its target share capital ratio of an equal number of JIGIT Income Shares and
JIGIT Capital Shares as outlined in both the Prospectus issued by JIGIT and the
Circular issued by the Company to Shareholders dated 9 November 2006,
subscriptions for JIGIT Capital Shares under the Placing and Offer and the
elections by the Company's Shareholders for JIGIT Capital Shares may be subject
to scaling back. The scaling back calculation will take into account the capital
entitlements of the Company's shareholders to be calculated as at the close of
business on 14 December 2006.
Expected Timetable
Trading in the Company's Income Shares, Capital Shares and Units was suspended
as at 7.30 a.m. on 11 December 2006. Suspension of listing of the Company's
Income Shares and Capital Shares is expected to take place at 7.30 a.m. on 19
December 2006 subject to the Company being wound up on 19 December 2006.
2006
Latest time for receipt of Voting Instruction Forms from Plan 12.00 noon on 12 December
Participants for use at the Second EGM
Calculation Date Close of business on 14 December
Latest time for receipt of Forms of Proxy for use at the Second EGM 11.30 am on 17 December
Final Interim Dividend Paid to Income Shareholders 18 December
Second EGM 11.30 am on 19 December
Proposed suspension of listing of Shares in the Company 19 December
Proposed Winding-up of Company 19
December
Effective Date and Transfer Date 20 December
JIGIT Securities listed / CREST accounts credited 20 December
Dealings in JIGIT Securities commence 20 December
Cheques expected to be despatched in respect of the Cash Option and On or as soon as practicable after 20
CREST payments made to Income Shareholders, Capital Shareholders December
and Unitholders
Cheques expected to be despatched in respect of Plan Participants On or as soon as practicable after 20
electing for the Cash Option December
Share certificates for JIGIT Securities issued under the Scheme On or as soon as practicable after 20
expected to be despatched December
Enquiries:
David Barron 020 7742 3475
JPMorgan Asset Management (UK) Limited
Angus Gordon Lennox 020 7588 2828
JPMorgan Cazenove Limited
This information is provided by RNS
The company news service from the London Stock Exchange
END
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