Merger Up-date

RNS Number : 8112X

Artemis Alpha Trust PLC

13 December 2010

 



ARTEMIS ALPHA TRUST PLC

13 DECEMBER 2010

MERGER UP-DATE, VOTING RIGHTS AND BOARD CHANGE

Merger Effective

Further to the announcement made on 9 December 2010, the Company confirms that, following the satisfaction of all conditions to the Proposals, the New Ordinary Shares and Subscription Shares have been admitted to the Official List and dealings in both commenced on the London Stock Exchange's main market at 8.00 a.m. today. 

Pursuant to the Proposals, 18,274,563 New Ordinary Shares have been issued and accordingly, the aggregate number of Ordinary Shares in issue is 48,817,266 including 551,500 Ordinary Shares held in treasury.  The ISIN, SEDOL and ticker symbol for the Ordinary Shares continues to be GB0004355946, 0435594 and 'ATS', respectively.  Pursuant to the Bonus Issue, 78,785 Subscription Shares have been issued to the Company in respect of the Ordinary Shares held in treasury and have been cancelled immediately following their allotment.  Accordingly, the aggregate number of Subscription Shares in issue is 6,894,338.

The ISIN, SEDOL and ticker symbol for the Subscription Shares is GB00B5SLGR82, B5SLGR8 and 'ATSS', respectively.  An announcement confirming the Conversion Price payable on the exercise of the subscription rights conferred by the Subscription Shares, being 110 per cent. of the Enlarged Company's net asset value as at the close of business on 10 December 2010, will be made later today.

CREST accounts in respect of New Ordinary Shares and Subscription Shares in uncertificated form are expected to be credited today and certificates in respect of New Ordinary Shares and Subscription Shares in certificated form are expected to be dispatched by 23 December 2010.

Voting Rights

Each Ordinary Share has one voting right.  The Company holds 551,500 Ordinary Shares in treasury.  Accordingly, following completion of the Proposals, the total number of voting rights in the Company is 48,265,766 and this figure may be used by Ordinary Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules. 

Changes to the Board

Charles Peel has stood down as director of the Company.  Ian Robert Dighé has joined the board of the Company as a non-executive director, with immediate effect.  Save for as disclosed in the Prospectus, there are no other details to be disclosed pursuant to Listing Rule 9.6.13 in relation to this Board appointment.  A copy of the Prospectus is available for inspection at the National Storage Mechanism, which is located at www.hemscott.com/nsm.do.

Dealings in Close Period

In accordance with Listing Rule 15.5.1(4), the Company is satisfied that all inside information which the Directors and the Company may have up to the announcement of the results for the half-year ended 31 October 2010 has previously been notified to a Regulated Information Service.  In particular, the valuations of the Company's unquoted investments as at 31 October 2010 are already reflected in the Company's daily NAV announcements.  Accordingly, dealings referred to in Listing Rule 15.5.1(3) are permitted.

Enquiries

Simon Miller	Artemis Alpha Trust PLC	07768 794 182
Gordon Neilly/ Rishi Zaveri	Canaccord Genuity Limited	020 7050 6778/ 020 7050 6780
Mark Tyndall	Artemis Investment Management LLP	0131 225 7300

Notes

Terms defined in the prospectus relating to Artemis Alpha Trust plc dated 11 November 2010 have the same respective meanings in this announcement unless the context requires otherwise.

Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the FSA, is acting for the Company and for no-one else in connection with the Proposals, and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Canaccord Genuity Limited or for providing advice to any other person in relation to the Proposals or any other matter referred to in this announcement.

 

END

 

 

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