Aberdeen New Thai Inv Trust PLC 2nd General Meeting Result & Scheme Entitlements (8413R)
November 09 2021 - 10:00AM
UK Regulatory
TIDMANWA
RNS Number : 8413R
Aberdeen New Thai Inv Trust PLC
09 November 2021
ABERDEEN NEW THAI INVESTMENT TRUST PLC (in members' voluntary
liquidation)
LEI: 213800LUTHTZ8LS5UK85
9 November 2021
Result of Second General Meeting
In connection with the proposals for a combination of the assets
of Aberdeen New Thai Investment Trust PLC (the "Company") with
abrdn China Investment Company ("ACIC") (formerly Aberdeen
Emerging Markets Investment Company Limited ("AEMC")) by means
of a scheme of reconstruction and winding up of the Company
under section 110 of the Insolvency Act 1986 (the "Scheme"),
the Company is pleased to announce that the special resolution
to wind up the Company and place the Company into members'
voluntary liquidation was voted on and approved by the Company's
shareholders at the Second General Meeting held earlier today
and that Derek Neil Hyslop and Richard Peter Barker of EY Parthenon,
Atria One, 144 Morrison Street, Edinburgh, EH3 8EX have been
appointed as joint liquidators. Votes For
(inc. Votes
Resolution Discretionary) % Against % Votes Total Votes Withheld
That subject
to certain
conditions,
the Company
be wound-up
voluntarily
and the joint
liquidators
appointed 11,946,891 98.9 134,681 1.1 12,364,741 283,169
--------------- ----- --------- ---- ------------ ---------------
The full text of the special resolution can be found in the
notice of the Second General Meeting contained in the Company's
circular to Shareholders dated 4 October 2021 (the "Circular").
The Circular is available for viewing on the Company's website,
www.newthai-trust.co.uk and at the National Storage Mechanism
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
The Company's Reclassified Shares were suspended at 7.30 a.m.
on 9 November 2021.
The Company, through its advisers, has notified the London
Stock Exchange of the Company's intention to cancel the Company's
admission of the ordinary shares to trading at 8:00 a.m. on
11 November 2021.
Scheme entitlements
As at the Calculation Date the scheme entitlements calculated
in accordance with the terms of the Scheme were as follows:
* ANW FAV per Share: 456.54 pence
* Cash NAV per Share: 445.83 pence
* AEMC (now ACIC) FAV per Share: 821.18 pence
Therefore, Shareholders will receive the following cash and/or
number of AEMC (now ACIC) Shares:
For Shareholders that elected for the Cash Option:
* each Share with B rights attached to it will receive
445.83 pence in cash.
For Shareholders that elected (or are deemed to have elected)
to receive AEMC (now ACIC) Shares:
* each Share with A rights attached to it will roll
over into approximately 0.5559540 AEMC (now ACIC)
Shares.
As noted in the Circular, the Directors have set aside sufficient
assets in the Liquidation Pool to meet all estimated liabilities
and contingencies, including the costs of the winding up of
the Company and the costs of implementing the Scheme. The Directors
have also provided in the Liquidation Pool for a retention
of GBP100,000 (equivalent to 0.6 pence per Share) which they,
together with the Liquidators, consider sufficient to meet
any unknown or unascertained liabilities of the Company. The
Liquidation Pool will also include an amount of approximately
GBP464,926 (equivalent to 2.9 pence per Share) in respect of
accrued income not yet received and other receivables.
The Liquidation Pool will be applied by the Liquidators in
discharging all current and future actual and contingent liabilities
of the Company and, any balance remaining after discharging
such liabilities from the Liquidation Pool will in due course
be distributed to Shareholders on the Register on the winding-up
date pro rata to their respective holdings of Shares in accordance
with the terms of the Scheme.
Following the appointment of the joint liquidators, all further
enquiries regarding the Company should be made to the joint
liquidators, whose contact details are below.
In accordance with the Circular, Shareholders who elected,
or were deemed to have elected, for the Rollover Option will
receive their new AEMC (now ACIC) Shares via CREST holders
on 10 November 2021 and, in relation to certificated shareholders,
the week commencing 15 November 2021. Shareholders who elected,
or were deemed to have elected, for the Cash Option will receive
their entitlements in the week commencing 15 November 2021
via CREST and/or cheque.
Defined terms used in this announcement have the meanings given
in the Circular unless the context otherwise requires.
Enquiries : Joint Liquidators
Derek Hyslop and Richard Barker Tel. +44 (0) 131 460 2310
Contacts:
Craig Robertson/Rhiannon Leighton Email:
crobertson3@parthenon.ey.com
rhiannon.leighton@parthenon.ey.com
Post:
Aberdeen New Thai Investment
Trust PLC
(in members' voluntary liquidation)
c/o EY Parthenon
Atria One
144 Morrison Street
Edinburgh, EH3 8EX
abrdn
Maria Allen/Gary Jones/William Tel. +44 (0) 20 7463 6000
Hemmings
Note: The content of the Company's web-pages and the content
of any website or pages which may be accessed through hyperlinks
on the Company's web-pages, other than the content of the document
referred to above, is neither incorporated into nor forms part
of the above announcement.
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END
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