ScotGems Plc Company update

 
TIDMSGEM 
 
ScotGems PLC 
 
LEI Number:                 549300GQHCPU9P1NYM13 
 
12 May 2022 
 
Company update 
 
On 9 March 2022, the Board of ScotGems PLC (the "Company") announced that it 
had received notice to terminate the Alternative Investment Fund Management 
Agreement dated 2 June 2017 from First Sentier Investors (UK) Funds Limited, 
the Company's current AIFM. 
 
The Board has considered carefully the future of the Company including 
reviewing a number of proposals made to the Board and consulting with the 
Company's largest shareholders. Throughout this process the Board has taken 
into account the size of the Company, the discount at which the Company's 
shares trade relative to net asset value and the limited liquidity in the 
Company's shares. 
 
The Board wants to ensure that all shareholders have an opportunity to consider 
the future of the Company. Accordingly, it will shortly convene a general 
meeting to consider an ordinary resolution on whether the Company should 
continue. The Board intends to continue consulting with shareholders and will 
give its recommendation on the future of the Company prior to the continuation 
vote. The Board has been considering all options for the future of the Company, 
including a straightforward winding up. 
 
A further update will be provided in the next few weeks. 
 
Enquiries: 
 
Juniper Partners Limited (Secretary)               0131 378 0500 
 
Douglas Armstrong 
 
Dickson Minto (Sponsor)                                   020 7649 6823 
 
Important Information 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation (EU) 596/2014, as it forms part of UK Domestic Law 
by virtue of the European Union (Withdrawal) Act 2018, as amended and 
supplemented ("UK MAR") and is disclosed in accordance with the Company's 
obligations under UK MAR. Upon the publication of this announcement, this 
inside information will be considered to be in the public domain. 
 
 
 
END

(END) Dow Jones Newswires

May 12, 2022 07:00 ET (11:00 GMT)

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