Absolute Return Trust Limited Notice of EGM (3606Q)
11 Ottobre 2013 - 5:37PM
UK Regulatory
TIDMABR
RNS Number : 3606Q
Absolute Return Trust Limited
11 October 2013
Absolute Return Trust Limited (the "Company")
(a closed-ended investment company incorporated with limited
liability under the laws of Guernsey with registered number
42733)
PUBLICATION OF CIRCULAR AND NOTICE OF EXTRAORDINARY GENERAL
MEETING
11 October 2013
Following the announcement made by Absolute Return Trust Limited
(the "Company") on 7 September 2012, and following discussions with
the Company's Investment Manager, advisers and major shareholders,
the Directors of the Company have decided to recommend to
Shareholders that the Company be placed into liquidation. The
Company has today published and posted a Circular to its
Shareholders including recommended Proposals for the voluntary
winding-up of the Company. The Proposals are subject to
Shareholders' approval. The Circular also contains Notice of
Extraordinary General Meeting of the Company to be held at the
offices of the Company at PO Box 255, Trafalgar Court, Les Banques,
St Peter Port, Guernsey GY1 3QL on 20 November 2013.
At the Extraordinary General Meeting the following Resolution
will be put to Shareholders to approve the Proposals:
SPECIAL RESOLUTION
(a) That the company be wound up voluntarily pursuant to section
391(1)(b) of The Companies (Guernsey) Law, 2008 (as amended);
(b) That pursuant to article 82 of the Company's Articles, from
the date of appointment of the Liquidators, the Company is
permitted to have a sole Director;
(c) That the suspension and cancellation of the listing of the
Shares on the Official List and the admission of the Shares to
trading on the Main Market be and is hereby approved and the
suspension of the authorisation of the Company by the Commission
under the Protection of Investors (Bailiwick of Guernsey) Law, 1987
be and is hereby approved;
(d) That Linda Maree Johnson and Ashley Charles Paxton, of KPMG
Channel Islands Limited, 20 New Street, St Peter Port, Guernsey GY1
4AN, be and are hereby as joint liquidators (the "Liquidators") for
the purposes of winding up; and
(e) That the Liquidators' remuneration is fixed in accordance
with the engagement letter and terms of business issued by KPMG
Channel Islands Limited in respect of the proposed liquidation of
the company.
Conditional upon the Resolution being passed, Andrew Sykes,
Nicholas Fry, Robert King and Nicholas Moss will resign as
Directors of the Company and Graham Harrison will remain as a
Director in order to assist the Liquidators with the Liquidation.
Mr Harrison will continue to be paid in accordance with his
existing arrangements, but has waived any remuneration he would
otherwise have received over the course of the Liquidation in
excess of GBP15,000.
The Company will not be required to prepare any further audited
financial statements. This will maximise the cost-effectiveness of
the Proposals, more details in relation to which are set out in the
Circular.
Expected timetable
Latest time and date for receipt 11.30 a.m. on 18 November
of Forms of Proxy for the Extraordinary 2013
General Meeting
Extraordinary General Meeting 11.30 a.m. on 20 November
2013
Announcement of the result of the 20 November 2013
Extraordinary General Meeting
Closing of the Company's register 6.00 p.m. on 20 November
and Record Date for participation 2013
in liquidation distributions
Suspension of listing 7.30 a.m. on 20 November
2013
Last day of listing 18 December 2013
Delisting of Shares 8.00 a.m. on 19 December
2013
Unless otherwise defined, capitalised terms used in this
announcement shall have the same meaning given to such terms in the
Circular.
Enquiries:
Northern Trust
Andrew Maiden
Tel: +44 (0)1481 745368
This information is provided by RNS
The company news service from the London Stock Exchange
END
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