EET Euro Equity

 

TIDMEET 
 
RNS Number : 8783M 
European Equity Tranche Income Ltd. 
05 February 2009 
 

European Equity Tranche Income Limited ("EETI" or the "Company") 
 
 
Result of EGM and Placing 
 
 
 
 
The Board of Directors of EETI are pleased to announce that, at the 
Extraordinary General Meeting held earlier today, the Resolutions relating to 
the de-listing of the Company's Ordinary Shares from the CISX, the issue of 927 
million Ordinary Shares at a discount to NAV and the consolidation of every 100 
Ordinary Shares into 1 Ordinary Share were approved by Shareholders and the 
grant of the Rule 9 Waiver was approved by independent shareholders. 
 
 
A total of 927 million Ordinary Shares are being allotted in aggregate, of 
which: 
 
 
(i) 500 million Ordinary Shares will be issued to Scribona Nordic as part of a 
debt for equity swap, setting off the aggregate subscription price against 
approximately Eur 5.6 million of debt owed by the Company to Scribona Nordic; 
 
 
(ii) 66.8 million Ordinary Shares will be issued pursuant to the Placing raising 
gross proceeds of approximately Eur 741,582 to be applied in prepayment of debt 
owed by the Company to Scribona Nordic; 
 
 
(iii) 333.2 million Ordinary Shares will be issued to and taken up by Scribona 
Nordic pursuant to its commitment to underwrite the Placing with the aggregate 
subscription price being set off against  approximately Eur 3.7 million of debt 
owed by the Company to Scribona Nordic; and 
 
 
(iv) 27 million Ordinary Shares will be issued to Scribona Nordic as 
consideration for underwriting the Placing. 
 
 
The Placing is conditional, inter alia, on the admission of the Ordinary Shares 
to trading on AIM. It is expected that Admission will become effective and 
dealings in the Ordinary Shares will commence on 6 February 2009. 
 
 
It is anticipated that the de-listing of the Ordinary Shares from the CISX will 
become effective on 6 February 2009. 
 
 
It is anticipated that the Consolidation will become effective and CREST holders 
will have their CREST accounts credited with their holdings of Consolidated 
Shares on 16 February 2009. Share certificates in respect of Consolidated Shares 
are expected to be despatched in the week commencing 23 February 2009. 
 
 
Following the passing of the Resolutions at the EGM, including the Waiver 
Resolution, and the issue of Ordinary Shares outlined above, the Concert Party 
will be interested in 900,895,817 Ordinary Shares, representing 87.9 per cent. 
of the Company's issued share capital. 
 
 
Capitalised terms in this announcement shall, unless otherwise stated, have the 
same meaning as set out in the section headed "Definitions" in the Circular 
which was sent to Shareholders on 16 January 2009. 
 
 
Enquiries: 
 
 
European Equity Tranche Income Limited 
Robin Monro-Davies                                                0845 868 0533 
 
 
Arbuthnot Securities Limited 
Alastair Moreton                                                       020 7012 
2000 
 
 
Anson Fund Managers Limited 
Secretary                                                                  01481 
722260 
 
 
5 February 2009 
 
 
E&OE - in transmission 
 
 
END OF ANNOUNCEMENT 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STRTAMATMMIMBRL 
 

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