Result of Meeting

RNS Number : 3281U

Rights and Issues Inv Trust PLC

29 November 2013

 



29 November 2013

Rights and Issues Investment Trust Public Limited Company

RESULTS OF SEPARATE CLASS MEETINGS AND GENERAL MEETING

Rights and Issues Investment Trust Public Limited Company (the "Company") announces that at separate class meetings (the "Separate Class Meetings") of the holders of the Company's capital shares of 25p each, income shares of 25p each and preference shares of £1 each (the "Preference Shares") (together the "Shareholders") and the General Meeting of the Company (the "General Meeting") all held on 29 November 2013, the special resolutions at the Separate Class Meetings consenting to the variation of the class rights of the Shareholders in order to implement the special resolution at the General Meeting were duly passed.  The special resolution at the General Meeting relating to the proposed reduction of capital, by cancellation of the Preference Shares and repayment of the Preference Shares plus the fixed dividend payable on the Preference Shares which accrues up to 31 December 2013, together with a premium of 25p per Preference Share and amendment of the Company's Articles of Association in stages to enable the repayment of the Preference Shares, and to remove all references to the Preference Shares, following the cancellation of the same, was also duly passed.

As the proposed reduction in Preference Share capital is subject to confirmation by the Court, the repayment of the Preference Shares will become effective on registration of the order of the Court confirming the reduction of capital under section 648 of the Companies Act 2006 and associated statement of capital with the Registrar of Companies.  It is expected that this should occur by 15 January 2014.  Following the repayment of the Preference Shares, the same shall immediately be cancelled.  

The Company will request the UK Listing Authority to, subject to the cancellation of the Preference Shares on 15 January 2014, cancel the listing of the Preference Shares at 8.00am on 16 January 2014.

The full text of the resolutions passed at the Separate Class Meetings and the General Meeting can be found in the circular dated 6 November 2013, which is available for viewing at the National Storage Mechanism, which is located at http://www.morningstar.co.uk/uk/nsm and also on the Company's website at http://www.rightsandissues.co.uk.

For enquiries please contact:

Simon Knott, Rights and Issues Investment Trust plc, 0207 415 4131

 

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