The Diverse Income Trust Plc - Result of First General Meeting
Result of First General Meeting
This announcement and the information contained in it are not for release, publication or distribution, directly or indirectly, in whole or in part, in or into,
(the " Company ")
Results of First General Meeting
In connection with the proposals for the voluntary liquidation of the Company by way of a scheme of reconstruction pursuant to section 110 of the Insolvency Act 1986 (the "Scheme"), the Board is pleased to announce that the Resolutions which were put forward at the First General Meeting held today have been approved by Shareholders on a show of hands.
Details of the number of proxy votes cast for, against and withheld in respect of the resolutions are set out below and will also be published on the Company's website:
________________________________________________________________________________ | | | | | | |Proxy | | | | | | | | |votes | | | |Votes for | |Votes | |Total |cast |Votes | |Resolution |(incl. |% |against|% |proxy |(excl. |withheld| | |discretionary)| | | |votes cast|votes | | | | | | | | |withheld)| | | | | | | | |1 | | |________________|______________|_____|_______|____|__________|_________|________| |1. To approve | | | | | | | | |the | | | | | | | | |reclassification| | | | | | | | |of the shares in| | | | | | | | |the capital of | | | | | | | | |the Company as | | | | | | | | |shares with "A" | | | | | | | | |rights and |37,268,904 |98.26|661,315|1.74|37,930,219|23.19 |84,217 | |shares with "B" | | | | | | | | |rights and to | | | | | | | | |approve changes | | | | | | | | |required to the | | | | | | | | |Company's | | | | | | | | |articles of | | | | | | | | |association. | | | | | | | | |________________|______________|_____|_______|____|__________|_________|________| |2. To approve | | | | | | | | |the Scheme; to | | | | | | | | |further amend | | | | | | | | |the Company's | | | | | | | | |articles of | | | | | | | | |association in | | | | | | | | |order to |37,254,941 |98.21|677,408|1.79|37,932,349|23.19 |82,087 | |implement the | | | | | | | | |Scheme; and to | | | | | | | | |instruct the | | | | | | | | |Liquidators to | | | | | | | | |give effect to | | | | | | | | |the Scheme. | | | | | | | | |________________|______________|_____|_______|____|__________|_________|________|
1 As a percentage of total voting rights
The number of Ordinary Shares in issue at the date of this announcement is 163,570,773. There are no Ordinary Shares held in treasury. Therefore, as at the date of this announcement the number of voting rights in the Company are 163,570,773.
The full text of the Resolutions can be found in the notice of First General Meeting contained in the Company's circular to Shareholders dated
Results of Scheme Elections
The Board also announces the following Elections in connection with the Scheme:
-- Rollover Option: 88,696,068 Ordinary Shares / 54.2 per cent. of issued
share capital, which will be reclassified as Reclassified Shares with
"A" rights, being the right to receive Sub-Fund Shares; and
-- Cash Option: 74,874,705 Ordinary Shares / 45.8 per cent. of issued
share capital, which will be reclassified as Reclassified Shares with
"B" rights, being the right to receive cash.
In accordance with the Scheme, eligible Shareholders that made no Election (and satisfied the KYC Requirements) have been deemed to have elected for the Rollover Option. Ordinary Shareholders who did not satisfy the KYC Requirements or who are otherwise Restricted Shareholders, have been deemed to have elected for the Cash Option.
In accordance with the timetable, the Ordinary Shares were disabled for settlement in CREST from
Expected Timetable
2026
Calculation Date 11.59 p.m. on 23 June
Latest time and date for receipt of proxy
appointments from Shareholders for the 10.00 a.m. on 24 June
Second General Meeting
Reclassification of the Ordinary Shares 8.00 a.m. on 25 June
Suspension of dealings in Reclassified 7.30 a.m. on 26 June
Shares
Second General Meeting 10.00 a.m. on 26 June
Appointment of the Liquidators 26 June
Effective Date and Transfer Agreement 26 June
executed and implemented
Sub-Fund Shares issued pursuant to the 26 June
Scheme
First day of dealing in Sub-Fund Shares 29 June
Contract notes expected to be despatched As soon as practicable following the
in respect of Sub-Fund Shares issued Effective Date
pursuant to the Scheme
Cheques expected to be despatched and Expected to be around10 Business Days
CREST payments made to Shareholders in from the Effective Date
respect of the Cash Option
Cancellation of listing of Reclassified After the Effective Date
Shares
The times and dates set out in the expected timetable of events above and mentioned throughout this announcement may be adjusted by the Company in which event details of the new times and dates will be notified, as requested, to the
Defined terms used in this announcement shall, unless the context requires otherwise, have the meanings ascribed to them in the Circular.
Enquiries
The Diverse Income Trust plc
Contact via Panmure Liberum Limited Andrew Bell , Chair
Premier Miton Group plc
Gervais Williams , Martin Turner , Claire Long 0333 456 4560
Panmure Liberum Limited Alex Collins , Tom Scrivens , Ashwin Kohli 020 3100 2000
LEI: 2138005QFXYHJM551U45
