Result of EGM
06 Dezember 2002 - 1:06PM
UK Regulatory
RNS Number:7706E
Baring Emerging Europe Trust PLC
6 December 2002
RESULT OF EXTRAORDINARY GENERAL MEETING
THE BARING EMERGING EUROPE TRUST PLC
The Board of The Baring Emerging Europe Trust PLC (the "Company" or "BEET")
announces that shareholders approved both of the special resolutions proposed at
the extraordinary general meeting of the Company held yesterday, in connection
with the reconstruction and liquidation of the Company. The first resolution
approved the reclassification of the ordinary shares of the Company in order to
permit the scheme of reconstruction (the "Scheme"). The second resolution
approved the Scheme and authorised the liquidators of the Company, on
appointment, to implement the Scheme. Further details of the Scheme are set out
in the circular to shareholders and warrantholders dated 12 November 2002.
At a meeting of warrantholders, held after the conclusion of the extraordinary
general meeting, an extraordinary resolution was duly passed. The resolution
amends the existing terms of the warrants in order to allow warrantholders to
participate in the Scheme in the manner described in the circular.
The following elections under the Scheme have been made (or have been deemed
made) by shareholders and warrantholders:
Elections for
Newco Shares* Cash
BEET ordinary shareholders 40.6 million 53.7 million
Deemed elections 6.2 million 1.5 million
BEET warrantholders 0.3 million 17.2 million
Deemed elections - 2.9 million
* Newco refers to Baring Emerging Europe PLC.
In addition, holders of 1.1 million warrants elected to apply the cash
distribution due to them under the Scheme in subscribing for shares in Baring
Emerging Europe PLC.
As a result of these elections it is expected that approximately 48 million
ordinary shares of Baring Emerging Europe PLC will be allotted pursuant to the
Scheme. The implementation of the Scheme is, however, still subject to various
conditions listed in the circular, including the passing of both of the
resolutions that will be proposed at an extraordinary general meeting convened
for 17 December 2002.
Copies of the circular have been submitted to the UK Listing Authority, and are
available for inspection at the UK Listing Authority's Document Viewing
Facility, which is situated at: Financial Services Authority 25 The North
Colonnade Canary Wharf London E14 5HS. Telephone: 020 7676 1000.
Enquiries:
Michael Nokes Company Secretary 020 7762 8405
Howard Myles Ernst & Young LLP 020 7951 5324
This information is provided by RNS
The company news service from the London Stock Exchange
END
REGUUGUWPUPPGGQ
Baring 'a'rts (LSE:51WQ)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Baring 'a'rts (LSE:51WQ)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Baring 'a'rts (Londoner Börse): 0 Nachrichtenartikel
Weitere Baring Emerging News-Artikel