Grampian Investment Trust Plc Scheme Calculations and Update (1807J)
02 August 2012 - 2:09PM
UK Regulatory
TIDMGRMP
RNS Number : 1807J
Grampian Investment Trust Plc
02 August 2012
To: RNS
Date: 2 August 2012
GRAMPIAN INVESTMENT TRUST PLC (THE "COMPANY")
SCHEME CALCULATIONS AND UPDATE ON RECOMMENDED PROPOSALS
Further to the proposals for the reconstruction and winding up
of the Company which were announced on 3 July 2012, the Board
confirms the TAV per Share and the FAV per TIGT Share that will be
used for the calculation of entitlements under the recommended
Scheme (the "Scheme") for the acquisition of the Company's assets
by Troy Income & Growth Trust plc ("TIGT").
Under the terms of the Scheme, details of which were set out in
the circular to Shareholders dated 3 July 2012, the TAV per Share
(being the entitlement of an Grampian Share pursuant to the Scheme,
calculated on the basis of the net asset value of the Company as at
close of business on 31 July 2011 (the "Calculation Date")) was 462
pence.
The FAV per TIGT Share (being the net asset value of TIGT
attributable to the TIGT Shares as at the Calculation Date, as
adjusted and calculated in accordance with the Scheme) was 54.71
pence.
Based on the TAV per Share and the FAV per TIGT Share set out
above, Grampian Shareholder would receive approximately 8.44 New
TIGT Shares under the Scheme in respect of each Grampian Share
held.
Suspension of Shares
It is expected that the listing of the Company's shares on the
Official List will be suspended at 7.30 a.m. on 3 August 2012.
General
It should be noted that the Scheme remains conditional on,
amongst other conditions, the passing of the special resolutions to
be proposed at the second general meeting of the Company's
shareholders convened for 3 August 2012. The Scheme will not become
effective unless these resolutions are passed.
Enquiries:
Steven Cowie
Company Secretary 0131 534 6604
Capitalised terms shall bear the meanings given to them in the
Company's circular dated 3 July 2012 unless the context otherwise
requires
This information is provided by RNS
The company news service from the London Stock Exchange
END
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