REG - Witan Inv Tst PLC - Results of Scheme Elections

Witan Investment TrustAnnouncement

01/10/2024 12:00

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RNS Number : 4842G  Witan Investment Trust PLC  01 October 2024

1 October 2024

Witan Investment Trust plc

 

Legal Entity Identifier: 213800XMW68XFT6D1X59

Results of Scheme Elections

In connection with the proposals for the combination of the assets of Witan
Investment Trust plc (the "Company") with Alliance Trust PLC ("ATST") (to be
renamed Alliance Witan PLC), by means of a scheme of reconstruction and
winding up of the Company under section 110 of the Insolvency Act 1986 (the
"Scheme"), the Board is pleased to announce the following Elections in
connection with the Scheme:

·      Rollover Option: 538,482,637 Shares (90.7 per cent. of Ordinary
Shares (excluding treasury shares) in issue)

·      Cash Option: 55,416,014 Shares (9.3 per cent. of Ordinary Shares
(excluding treasury shares) in issue)

In accordance with the Scheme, Ordinary Shareholders that made no Election
have been deemed to have elected for the Rollover Option. Excluded
Shareholders have been deemed to have elected for the Cash Option.

As the total Elections made for the Cash Option were less than 17.5 per cent
of the Ordinary Shares (excluding treasury shares) in issue (being the maximum
number of Ordinary Shares that can be elected for the Cash Option), no scale
back has been applied and all valid Elections will be satisfied in full.

 Therefore, the Ordinary Shares will be reclassified as follows:

·      538,482,637 Reclassified Shares with "A" rights, being the right
to receive New ATST Shares

·      55,416,014 Reclassified Shares with "B" rights, being the right
to receive cash

Applications have been made to the FCA and to the London Stock Exchange for
the Ordinary Shares to be reclassified for listing purposes with effect from
8.00 a.m. on 3 October 2024. The listing of, and dealings in, the Company's
Reclassified Shares are subsequently expected to be suspended at 7.30 a.m. on
9 October 2024.

The cancellation of listings of the Reclassified Shares and the Preference is
expected to occur on 10 October 2024.

Defined terms used in this announcement have the meanings given in the
Company's circular to Shareholders dated 12 September 2024 (the "Circular").
The Circular is available for viewing at the National Storage Mechanism which
can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)  and on the
Company's website at www.witan.com/investor-information/alliance-witan
(http://www.witan.com/investor-information/alliance-witan)

 

 For further information please contact:
 Witan Investment Trust plc  Via J.P. Morgan Cazenove
 Andrew Ross (Chair)
 J.P. Morgan Cazenove        +44 (0) 20 3493 8000
 William Simmonds

 Rupert Budge

 

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