Honeycomb Investment Trust PLC Circular and Notice of General Meeting (0680V)
November 29 2019 - 2:00AM
UK Regulatory
TIDMHONY
RNS Number : 0680V
Honeycomb Investment Trust PLC
29 November 2019
Honeycomb Investment Trust plc
Publication of a Circular and Notice of General Meeting
Honeycomb Investment Trust plc (the "Company") announces that a
circular (the "Circular") relating to the continued operation of
the Company as an investment trust (the "Continuation Vote") will
be posted to the Company's shareholders (the "Shareholders")
today.
Under the articles of association of the Company, a continuation
vote is scheduled to be held at the Company's annual general
meeting in 2021 in order to extend the Company's life for another
five years. However, the Directors believe that it is beneficial to
the Company for the Continuation Vote to be held earlier.
The Company's primary leverage facility is due to mature within
the next 12 months and the Directors believe that, to secure
optimal terms on a replacement facility, it is important that the
Continuation Vote is passed by Shareholders to give greater
certainty as to the Company's longer term investment period. If
secured, the Company will be in a stronger position to negotiate
more favourable terms with lenders which the Directors believe will
provide enhanced returns to Shareholders. In addition, increased
certainty as to the life of the Company will further enable the
Company to continue to build effective long-term partnerships with
key new and existing counterparties and borrowers. It will also
allow the Company the opportunity to continue to grow and diversify
its portfolio whilst continuing to deliver its investment objective
of providing Shareholders with an attractive level of dividend
income and capital growth.
The Continuation Vote will be proposed as an ordinary resolution
at a general meeting of the Company (the "General Meeting"). The
Circular therefore encloses a Notice of General Meeting confirming
that the General Meeting will take place on Monday 16 December 2019
at 10:30am at the offices of Pollen Street Capital at 11-12 Hanover
Square, London, W1S 1JJ. Alongside the Circular and Notice of
General Meeting, a form of proxy will also be posted to
Shareholders today for use in connection with the Continuation Vote
at the General Meeting.
Copies of the Circular and Notice of General Meeting will
shortly be available for inspection on the Company's website at
www.honeycombplc.com and will also be available from the Company's
registered office at 6(th) Floor 65 Gresham Street, London,
England, EC2V 7NQ.
For further information about this announcement please
contact:
Pollen Street Capital - Investment Manager
Chris Palmer: +44 (0)20 3728 6740
Steve Plowman: +44 (0)20 3728 6761
Liberum Capital Limited - Broker
Chris Clarke / Louis Davies: +44 (0)20 3100 2000
Camarco - Investor Relations
Ed Gascoigne-Pees: +44 (0)20 3757 4994
Link Company Matters Limited - Corporate Secretary
Paula O'Reilly: +44 (0)20 7954 9796
29 November 2019
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contact rns@lseg.com or visit www.rns.com.
END
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