Doc re. Proposed Reconstruction - REVISED
August 25 2010 - 6:44AM
UK Regulatory
TIDMMEQI
M&G Equity Investment Trust P.L.C.
Proposed Reconstruction
The Board of M&G Equity Investment Trust P.L.C. (the "Company") is proposing to
put forward proposals to coincide with its scheduled winding-up date of 8 March
2011.
Under the proposals, the Company will be wound up and its shareholders will be
offered the choice of the following:
<li> a tax and cost efficient rollover into new shares to be issued by M&G High
Income Investment Trust P.L.C. ("M&G High Income");
<li> a full cash exit (at liquidation value); and
<li> an investment in at least one open-ended investment company managed by M&G
Investment Management Limited, the Company's investment manager.
M&G High Income is listed in London, managed by the same investment team at M&G
as the Company and has both a similar investment objective and structure (being
closed-ended and split capital). The Company currently has gross assets of GBP198
million whilst M&G High Income has gross assets of GBP232 million and has a
winding-up date of 17 March 2017. As part of the proposals, M&G will make a
significant commitment in relation to the costs of the proposals.
Further precise details of the scheme are expected to be announced in January
2011.
Enquiries:
David Benda, Numis Securities: 020 7260 1275
Nathan Brown, Numis Securities: 020 7260 1426
[HUG#1440196]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: M&G Equity Investment Trust PLC via Thomson Reuters ONE
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