TIDMENG

RNS Number : 8349L

Electric & General Inv Tst PLC

05 August 2011

Electric & General Investment Trust plc

5 August 2011

Result of the First General Meeting

The Board of Electric & General Investment Trust plc (the "Company") announces that at the First General Meeting of the Company held today, 5 August 2011, the special resolution approving, inter alia, the reclassification of the Shares into Reclassified Shares, the amendment of the Company's articles of association and implementation of the scheme of reconstruction of the Company (the "Scheme") was duly passed.

The special resolution was passed on a show of hands. The result of the proxy votes on the special resolution was as follows:

 
 Votes for*:         20,340,522 Ordinary Shares 
 Votes against:      361,605 Ordinary Shares 
 Votes withheld**:   80,064 Ordinary Shares

* the "Votes for" include 70,038 votes giving the Chairman discretion.

** A "Vote withheld" is not a vote in law and is not counted in the calculation of the votes for or against the special resolution.

A copy of the special resolution will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.hemscott.com/nsm.do.

Results of Elections

The last date for receiving Forms of Election was 3 August 2011. The results of the Elections are shown in the table below:

 
 Option             Number       % 
 Rollover Option    22,896,497   35.1% 
 Cash Option        42,421,677   64.9% 
 Total Elections    65,318,174   100.0%

Reclassification of Shares

As a result of the elections referred to above, 42,421,677 Shares will be reclassified as Shares with "A" rights and 22,896,497 Shares will be reclassified as Shares with "B" rights.

Application will be made to the UK Listing Authority and the London Stock Exchange for the listing in respect of the Shares to be amended to reflect the reclassification of the Shares as Reclassified Shares. It is expected that such amendment will become effective and dealings in the Reclassified Shares will commence with effect from 8.00 a.m. on 11 August 2011.

Suspension of Reclassified Shares

It is expected that the listing of the Reclassified Shares will be suspended at 7.30 a.m. on 12 August 2011. A further general meeting of the Company (the "Second Meeting") will be held on 12 August 2011 at 9.00 a.m. at which a special resolution will be proposed for the winding-up of the Company, the appointment of liquidators and the grant of appropriate powers to the liquidators. The Scheme will not become effective unless, inter alia, this special resolution is passed. Shareholder entitlements pursuant to the Scheme will be announced by the Company in due course following the Second Meeting, assuming that the Scheme becomes effective.

Capitalised terms used in this announcement have the same meaning as in the Circular dated 30 June 2011.

Enquiries

 
 William Simmonds 
  J.P. Morgan Cazenove    020 7588 2828

( )

J.P. Morgan Cazenove, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Electric & General Investment Trust plc and for no one else, including any recipient of the Circular, in connection with the Proposals and will not be responsible to anyone other than Electric & General Investment Trust plc for providing the protections afforded to clients of J.P. Morgan Cazenove or for providing advice in relation to the Proposals or any other matter referred to therein.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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