Restructure Proposals
26 Gennaio 2007 - 10:08AM
UK Regulatory
RECOVERY TRUST PLC
The Board of Recovery Trust PLC has recently consulted with a number of the
Company's larger Ordinary Income shareholders in relation to the future of the
Company after the expected repayment of the ZDP shares on or before 15 August
2007.
This consultation indicates that a significant proportion of the current
Ordinary Income shareholders will at that time wish to receive a cash value at
least equal to what they could receive in a liquidation.
At this time the Board therefore do not intend to develop any proposals for
either class of share capital other than liquidation.
The Board expect the Company to repay its ZDP shares their full entitlement of
167.74p, subject to sufficient assets being available on or before 15 August
2007. As announced yesterday the net asset value at 24 January 2007 for the
Ordinary Income shares was 22.19p and 159.89p for the ZDP shares.
In the absence of any more advantageous proposal which may or may not
materialise, a Meeting of Ordinary Income shareholders will be convened at that
time to consider liquidation as required by the Articles.
26 January 2007
END
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