Statement re Further Details of Forthcoming Shareholder Meetings and Reconstruction
17 Giugno 2010 - 6:20PM
UK Regulatory
TIDMTOPU
MW TOPS Limited (the "Company")
Further Details of Forthcoming Shareholder Meetings and Reconstruction
Following the announcement that was released on 1 June 2010 in relation to the
proposed reconstruction and voluntary winding up of the Company (the
"Reconstruction Announcement"), the Board has now agreed the following timetable
for the forthcoming shareholder meetings and the date on which it is proposed
that the reconstruction and voluntary winding up of the Company will take place.
The Company will hold its Annual General Meeting (the "AGM") on 15 July 2010,
and it is intended that the notice of the AGM will be despatched on 22 June
2010. The business that will be considered at the AGM will be routine business
for a meeting of that nature, and will include the reappointment of auditors,
receiving the Company's report and financial statements for the year ended 30
September 2009, renewal of the Company's authority to allot and to buy-back
shares, and reappointment of a director.
Separately, the Board intends to convene an extraordinary general meeting and
separate class meetings (the "EGM and Class Meetings") on or about 16 August
2010. It is expected that the circular and notices relating to the EGM and Class
Meetings will be despatched on or about 30 June 2010. As previously advised in
the Reconstruction Announcement, the proposals for shareholders to roll over
their existing holdings in the Company into an Irish-domiciled UCITS fund
managed by Marshall Wace LLP (the "UCITS Fund") and to wind up the Company
(together, the "Proposals") will be considered at the EGM and Class Meetings. It
will be proposed that those shareholders not eligible to invest in the UCITS
Fund will not hold shares of the UCITS Fund directly but will instead receive
cash redemption proceeds of such shares once any applicable anti-money
laundering checks have been satisfied.
If the Proposals are approved, it is expected that the liquidators of the
Company will be appointed and the transfer of the Company's portfolio to the
UCITS Fund will occur on or around 31 August 2010. As previously advised, if the
Proposals are not approved (at any of the EGM and Class Meetings), the Company
will not be wound up, and will continue in operation in accordance with the
articles of the Company.
This document is for information purposes only and is not an offer to invest.
The Company is registered with the Dutch Authority for the Financial Markets as
a collective investment scheme which may offer participations in The Netherlands
pursuant to article 2:66 of the Financial Markets Supervision Act (
Wet op het financieel toezicht
). All investments are subject to risk. Past performance is no guarantee of
future returns. Prospective investors are advised to seek expert legal,
financial, tax and other professional advice before making any investment
decision. The value of investments may fluctuate.
[HUG#1424951]
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