Temporary Suspension

RNS Number : 8246X

Rights and Issues Inv Trust PLC

16 January 2014

 



16 January 2014

Rights and Issues Investment Trust Public Limited Company

NOTICE OF SUSPENSION OF LISTING FROM THE OFFICIAL LIST AND TRADING ON THE LONDON STOCK EXCHANGE

Rights and Issues Investment Trust Public Limited Company (the "Company") held 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") on 29 November 2013.  At the Separate Class Meetings and the General Meeting the Shareholders approved 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 (the "Proposals").  The Court has now confirmed the reduction of capital under section 648 of the Companies Act 2006 (the "Court Order").

The Company therefore announces the suspension of the Preference Shares from the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

The repayment of the Preference Shares will become effective on registration of the Court Order and associated statement of capital with the Registrar of Companies.  It is expected that this should occur by 5.00 p.m. on 16 January 2014.  Following their repayment, the Preference Shares shall immediately be cancelled.  

The Company has requested that the UK Listing Authority, subject to the cancellation of the Preference Shares on 16 January 2014, cancel the listing of the Preference Shares at 8.00am on 17 January 2014.

For enquiries please contact:

Simon Knott, Rights and Issues Investment Trust plc, 0207 415 4130

 

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