Merger Discussions
(Thomson Reuters ONE) - Pennine AIM VCT 6 plc ("P6")Pennine AIM VCT 5 plc ("P5")The AIM Distribution Trust plc ("AIMDIT")JOINT ANNOUNCEMENT - MERGER DISCUSSIONSThe Boards of P6, P5 and AIMDIT are pleased to announce that,following discussions, they have agreed, in principle, subject toshareholder approval, terms with each other with a view to mergingP6, P5 and AIMDIT together to create one larger entity. Each of thecompanies is currently managed by Rathbone Investment ManagementLimited.If the merger proceeds it would be by way of "schemes ofreconstruction" pursuant to S.110 of the Insolvency Act 1986 (the"Schemes"). Under the proposed Schemes, the assets and liabilitiesof each of P5 and AIMDIT will be transferred to P6 using a relativenet asset basis to create one larger VCT. This should produce asignificant reduction in running costs as well as other benefits. Amerger effected on this basis would be outside the City Code onTakeovers and MergersThe proposed transactions will require approval of shareholders ofP6, P5 and AIMDIT. Formal documents are currently being prepared andare expected to be sent out to all shareholders in due course.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 30.11.2009 - 11:00 Uhr
Sprache: Deutsch
News-ID 9005
Anzahl Zeichen: 0
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London
Kategorie:
Business News
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