Merger Up-date

RNS Number : 6905X

Artemis Alpha Trust PLC

09 December 2010

 



ARTEMIS ALPHA TRUST PLC

9 DECEMBER 2010

MERGER UP-DATE

The Board refers to the Circular and the Prospectus published by the Company on 11 November 2010 in connection with the scheme of reconstruction and winding up of Gartmore Growth Opportunities plc and the related Bonus Issue of Subscription Shares.  

Further to the passing of the resolutions at the Company's general meeting held on 7 December 2010 and under the terms of the Proposals, the FAVs of the Company and GGO were calculated for the purposes of the Scheme as at 5.00 p.m. on 7 December 2010.  The FAV per Ordinary Share was 308.6114p and the FAV per GGO Share was 509.9367p.  

Accordingly, under the terms of the Proposals and conditional upon the Proposals becoming effective, GGO Shareholders shall receive 1.6275 New Ordinary Shares for every existing GGO Share held for which an election was made or deemed to be made for the Rollover Option.  Fractions of New Ordinary Shares which would otherwise arise will not be issued to GGO Shareholders, with fractional entitlements being rounded down to the nearest whole number of Ordinary Shares.  There was no scaling back of elections made by GGO Shareholders for the Cash Option.

Pursuant to the Bonus Issue, Qualifying Shareholders will receive one Subscription Share for every seven Qualifying Shares held by such Qualifying Shareholders. Fractions of Subscription Shares will not be allotted or issued and will be rounded down to the nearest whole number of Subscription Shares.

The Proposals remain conditional, inter alia, on the approval of GGO Shareholders at the second general meeting of GGO to be held on 10 December 2010 and Admission, which is expected to become effective on 13 December 2010.  A further announcement will be made at that time.

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 circular relating to Artemis Alpha Trust plc dated 11 November 2010 shall have the same 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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