Keystone Positive Change
Investment Trust plc (KPC)
Adjournment of Scheme
Meeting
Keystone Positive Change Investment
Trust plc (the "Company")
announces that the Second General Meeting, scheduled to be held
today in connection with the proposed scheme of reconstruction of
the Company (the "Scheme"),
has been formally adjourned.
On 13 January 2025, the Board
announced its intention to adjourn the Scheme meetings in the light
of the Saba proposals considered, and ultimately rejected, by
shareholders at the requisitioned general meeting held on 3
February 2025 (the "Requisitioned
General Meeting").
Following the Requisitioned General
Meeting, the Board has immediately refocused its efforts on
delivering the Scheme proposals announced by the Company prior to
the requisition.
To give effect to the Scheme, both
the Ordinary Shareholders' Class Meeting and the First General
Meeting are required to be held prior to the Second General
Meeting. As both of those meetings were formally adjourned on 27
January 2025 pending the outcome of the Requisitioned General
Meeting, an adjournment of the Second General Meeting is also
necessary in order for the business of the meeting to be properly
carried out.
The Second General Meeting now
stands adjourned to such day, time and place (and/or electronic
platform) as the Board may determine.
The Board is continuing to re-engage
with stakeholders with a view to re-scheduling adjourned meetings
for shareholders to vote on the Scheme as soon as
practicable.
Should this be the case, a revised
timetable will be announced by the Company setting out (among other
things) dates for the meetings and extended deadlines for
shareholders to submit proxy votes on, and make elections under,
the Scheme. Shareholders will be notified at least seven clear days
prior to any meetings.
For
further information please contact:
Deutsche Numis (Financial Advisor and Corporate
Broker)
Nathan Brown / Matt Goss
Tel: 020 7260 1426 / 1642
Baillie Gifford & Co (Investment
Manager)
Naomi Cherry
Tel: 0131 275 2000
Important information
Capitalised terms used throughout
this announcement shall have the meanings ascribed to them in the
Scheme circular published by the Company on 6 December 2024, unless
the context otherwise requires.
Legal Entity Identifier:
5493002H3JXLXLIGC563
Baillie Gifford & Co
Limited
Company
Secretaries
7 February
2025
