F&C Private Equity Trust PLC Results of Meetings (8019V)
January 17 2013 - 7:30AM
UK Regulatory
TIDMFPEO TIDMFPER
RNS Number : 8019V
F&C Private Equity Trust PLC
17 January 2013
17 January 2013
F&C PRIVATE EQUITY TRUST PLC
Results of Meetings, Declaration of Dividend
and Related Matters
Result of Meetings
A general meeting of F&C Private Equity Trust plc and a
separate class meeting of the Company's restricted voting
shareholders were held earlier today. The purpose of those meetings
was to consider resolutions approving:
-- the conversion and redesignation of the RV Shares as Deferred
Shares and their buy-back for a nominal consideration and
cancellation by the Company following payment of the Final RVS
Dividend;
-- amendments to the Company's articles of association to remove
all references to the RV Shares upon that redesignation; and
-- cancellation of the admission of the RV Shares to the
Official List and to trading on the Main Market after they have
been converted and redesignated as Deferred Shares.
All of the resolutions were passed.
Final RVS Dividend
The Directors announce that they have declared a final dividend
of 1.675p per RV Share, which will be payable on Thursday, 14
February 2013 to RV Shareholders on the register on Friday, 25
January 2013 (with an ex-dividend date of Wednesday, 23 January
2013). Following payment of the Final RVS Dividend share
certificates in respect of RV Shares will cease to have any
value.
Redesignation and Cancellation of the RV Shares
Following payment of the Final RVS Dividend, the RV Pool will
have no assets and the RV Shares will automatically convert and be
redesignated as Deferred Shares on Thursday, 14 February 2013. In
accordance with the terms of the Deferred Shares, the Company will
exercise its right to purchase compulsorily all of the Deferred
Shares for an aggregate consideration of 1p on Thursday, 14
February 2013 and the purchased Deferred Shares will then be
cancelled by the Company. In view of the negligible purchase
consideration per Deferred Share payable by the Company, the
purchase consideration will be retained for the benefit of the
Company.
Suspension and Cancellation of the RVS Listing
As the RV Shares will no longer exist following their
redesignation as Deferred Shares and the subsequent purchase and
cancellation of the Deferred Shares, the Company has requested the
FSA and the London Stock Exchange to suspend the admission of the
RV Shares to the Official List and to trading on the Main Market,
respectively, at 7.30 a.m. on Monday, 28 January 2013 and to cancel
such admissions at 8.00 a.m. on Friday, 15 February 2013.
Enquiries
Hamish Mair (Fund Manager)/ F&C Investment Business T: 0131 718
Gordon Hay Smith (Company Limited 1184/
Secretary) 0131 718 1018
Sue Inglis Cantor Fitzgerald Europe T: 020 7894
8016
Notes
Words and expressions defined in the announcement regarding the
proposals to redesignate the Company's restricted voting shares,
purchase and cancel the resulting deferred shares and cancel of
listing of the restricted voting shares, which was released by the
Company on 21 December 2012, have the same meanings when used in
this announcement.
Cantor Fitzgerald Europe, which is authorised and regulated in
the United Kingdom by the FSA, is acting solely for F&C Private
Equity Trust plc and for no one else, in connection with the
Proposals and will not be responsible to anyone other than F&C
Private Equity Trust plc for providing the protections afforded to
clients of Cantor Fitzgerald Europe or for affording advice in
relation to the Proposals.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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