Offer Document and GM Circula

RNS Number : 7297R

Manchester & London Inv Tst PLC

05 May 2009

 



Manchester & London Investment Trust PLC

Offer for 

Osprey Smaller Companies Income Fund Limited

Posting of Offer Document, Prospectus Equivalent Document and Circular to Shareholders

5 May 2009

Earlier today the boards of Manchester & London Investment Trust PLC ('MLIT') and Osprey Smaller Companies Income Fund Limited ('Osprey') announced a proposal to merge MLIT and Osprey. The merger is to be effected by way of a recommended offer by MLIT (the 'Offer') for the whole of the issued and to be issued share capital of Osprey.  

The Offer Document is being posted today to Osprey Shareholders together with a Prospectus Equivalent Document containing information about MLIT, Osprey and the enlarged group.  Osprey Shareholders whose shares are held in certificated form have also been sent a Form of Acceptance.

The first closing of the recommended Offer is at 1pm on 26 May 2009.

The acquisition of Osprey by MLIT is conditional on the approval of MLIT shareholders in general meeting. A circular containing notice of the General Meeting to approve the Offer and acquisition, to authorise MLIT to purchase its own shares and other related matters, is being posted today to MLIT shareholders together with the Prospectus Equivalent Document.

Forms of Proxy have been enclosed with the circular and should be completed and returned by MLIT shareholders so as to be received by Computershare Investor Services PLC by 9.30 am on 26 May 2009. The General Meeting will take place at The Midland Hotel, Peter Street, Manchester M60 2DS  at 9.30 am on 28 May 2009.

If the Offer is unconditional as to acceptances on the first closing date, being 26 May 2009 and the resolutions are passed at the MLIT General Meeting on 28 May 2009, it is expected that the New MLIT shares will be admitted to Listing and the Offer will be unconditional in all respects on 29 May 2009.

Copies of the Offer Document, Prospectus Equivalent Document and circular to MLIT shareholders are available at www.manchesterandlondon.co.uk/investorRelations.php.

Enquiries:

Manchester & London Investment Trust PLC                               Tel: [phone]

Peter Stanley

Osprey Smaller Companies Income Fund Limited                         Tel: [phone]

Richard Prosser

Midas Investment Management Limited (fund manager to MLIT and Osprey)

Mark Sheppard                                                                                  Tel: [phone]

Fairfax I.S. PLC (sponsor and adviser to MLIT)                                Tel: [phone]

David Floyd, James King and Gillian McCarthy

Mazars Corporate Finance Limited (adviser to Osprey)                 Tel: [phone]

Robin Stevens, Graham Duncan and Stephen Bullock

The MLIT Directors accept responsibility for the information contained in this Announcement. To the best of the knowledge and belief of the MLIT Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this Announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

Fairfax I.S. PLC ('Fairfax'), which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for MLIT and no one else in connection with the Offer and will not be responsible to anyone other than MLIT for providing the protections afforded to customers of Fairfax or for providing advice in relation to the Offer or any other matter referred to herein. The principal place of business of Fairfax I.S. PLC is 46 Berkeley Square, London W1J 5AT.

Mazars Corporate Finance Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Osprey and no one else in connection with the Offer and will not be responsible to anyone other than Osprey for providing the protections afforded to customers of Mazars Corporate Finance Limited or for providing advice in relation to the Offer or any other matter referred to herein. The principal place of business of Mazars Corporate Finance Limited is Tower Bridge House, St Katharine's Way, London E1W 1DD. 

This Announcement does not constitute, or form part of, an offer or an invitation to purchase or subscribe for any securities.  

Not for release, publication or distribution in whole or in part into ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

END

 

 

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