Sanditon Investment Trust Plc - Proposal to Liquidate Company
PR Newswire
London, October 18
The Board of Sanditon Investment Trust (the Company) have received indications from certain significant shareholders that they intend to vote against the continuation vote to be proposed by the Company at its AGM to be held in 2020. In light of this shareholder feedback, and following consultation with the Company's Investment Manager, Sanditon Asset Management (SAM), the Board has decided that it is in all shareholders' interests to propose a members' voluntary liquidation of the Company at this year's AGM.
The Board expects to announce Sanditon Investment Trust's annual results before the 31st October with the Annual Report and Accounts and Notice of AGM to be posted to shareholders on or before 5 November 2019. At the same time, the Company will publish and post a circular to shareholders convening a general meeting, to be held immediately after the Company's AGM, at which a special resolution will be proposed to place the Company into members' voluntary liquidation.
The Board will recommend that shareholders vote in favour of the members' voluntary liquidation proposals and will vote their shares (736,818 - 1.47%) in favour of the resolution. The Board has also received indications from SAM that the five directors of SAM will also vote their shares (10,995,722 - 21.99%) in favour of the resolution.
This announcement contains inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.
Enquiries:
Rupert P A Tyer
Chief Executive Officer
Sanditon Asset Management
Tel: 020 3595 2901
Email: rtyer@sanditonam.com
