Offer Document and GM Circular Posted
05 Mai 2009 - 6:55PM
UK Regulatory
TIDMMNL TIDMOSP
RNS Number : 7297R
Manchester & London Inv Tst PLC
05 May 2009
Manchester & London Investment Trust PLC
Offer for
Osprey Smaller Companies Income Fund Limited
Posting of Offer Document, Prospectus Equivalent Document and Circular to
Shareholders
5 May 2009
Earlier today the boards of Manchester & London Investment Trust PLC ("MLIT")
and Osprey Smaller Companies Income Fund Limited ("Osprey") announced a proposal
to merge MLIT and Osprey. The merger is to be effected by way of a recommended
offer by MLIT (the "Offer") for the whole of the issued and to be issued share
capital of Osprey.
The Offer Document is being posted today to Osprey Shareholders together with a
Prospectus Equivalent Document containing information about MLIT, Osprey and the
enlarged group.Osprey Shareholders whose shares are held in certificated form
have also been sent a Form of Acceptance.
The first closing of the recommended Offer is at 1pm on 26 May 2009.
The acquisition of Osprey by MLIT is conditional on the approval of MLIT
shareholders in general meeting. A circular containing notice of the General
Meeting to approve the Offer and acquisition, to authorise MLIT to purchase its
own shares and other related matters, is being posted today to MLIT shareholders
together with the Prospectus Equivalent Document.
Forms of Proxy have been enclosed with the circular and should be completed and
returned by MLIT shareholders so as to be received by Computershare Investor
Services PLC by 9.30 am on 26 May 2009. The General Meeting will take place at
The Midland Hotel, Peter Street, Manchester M60 2DS at 9.30 am on 28 May 2009.
If the Offer is unconditional as to acceptances on the first closing date, being
26 May 2009 and the resolutions are passed at the MLIT General Meeting on 28 May
2009, it is expected that the New MLIT shares will be admitted to Listing and
the Offer will be unconditional in all respects on 29 May 2009.
Copies of the Offer Document, Prospectus Equivalent Document and circular to
MLIT shareholders are available at
www.manchesterandlondon.co.uk/investorRelations.php.
Enquiries:
Manchester & London Investment Trust PLC Tel: 0161 242 2895
Peter Stanley
Osprey Smaller Companies Income Fund Limited Tel: 01534 818481
Richard Prosser
Midas Investment Management Limited (fund manager to MLIT and Osprey)
Mark Sheppard Tel: 0161 242 2895
Fairfax I.S. PLC (sponsor and adviser to MLIT) Tel: (020) 7469 4358
David Floyd, James King and Gillian McCarthy
Mazars Corporate Finance Limited (adviser to Osprey) Tel: (020) 7063 4000
Robin Stevens, Graham Duncan and Stephen Bullock
The MLIT Directors accept responsibility for the information contained in this
Announcement. To the best of the knowledge and belief of the MLIT Directors (who
have taken all reasonable care to ensure that such is the case), the information
contained in this Announcement for which they accept responsibility is in
accordance with the facts and does not omit anything likely to affect the import
of such information.
Fairfax I.S. PLC ("Fairfax"), which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for MLIT and
no one else in connection with the Offer and will not be responsible to anyone
other than MLIT for providing the protections afforded to customers of Fairfax
or for providing advice in relation to the Offer or any other matter referred to
herein. The principal place of business of Fairfax I.S. PLC is 46 Berkeley
Square, London W1J 5AT.
Mazars Corporate Finance Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting exclusively for
Osprey and no one else in connection with the Offer and will not be responsible
to anyone other than Osprey for providing the protections afforded to customers
of Mazars Corporate Finance Limited or for providing advice in relation to the
Offer or any other matter referred to herein. The principal place of business of
Mazars Corporate Finance Limited is Tower Bridge House, St Katharine's Way,
London E1W 1DD.
This Announcement does not constitute, or form part of, an offer or an
invitation to purchase or subscribe for any securities.
Not for release, publication or distribution in whole or in part into ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION
This information is provided by RNS
The company news service from the London Stock Exchange
END
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