PGIT Securities 2020 Plc - Update on the Scheme, Result of Second General Meeting
PR Newswire
London, November 30
30 November 2020
PGIT Securities 2020 plc (the "Company") (in members' voluntary liquidation)
Update on the Scheme, Result of Second General Meeting, Cancellation of Reclassified Shares from Trading and issue of New ZDP Shares in PMGR Securities 2025 PLC
The Company announces that the Second General Meeting of the Company was held earlier today at which special and ordinary resolutions were proposed and unanimously passed.
Accordingly, the Company has been placed into members' voluntary liquidation and Vincent Green and Mark Newman of Crowe U.K. LLP, 4 Mount Ephraim Road, Tunbridge Wells, Kent TN1 1EE have been appointed as joint liquidators. As a result the Scheme will become effective today.
The Company's Reclassified Shares with ISIN GB00BN7CH425 and GB00BN7CH532 were duly suspended at 7.30 a.m. this morning.
Application has been made to the FCA and the London Stock Exchange for the listing and admission to trading of the Reclassified Shares to be cancelled. It is expected that such cancellation will take place at 8.00 a.m. on 1 December 2020.
Pursuant to the elections made by ZDP Shareholders on 20 November 2020 and the result of the First General Meeting and the result of the ZDP elections announced on 23 November 2020, ZDP Shareholders holding ZDP Shares with "A" rights (ISIN GB00BN7CH425) will receive New ZDP Shares in PMGR Securities 2025 plc on the winding-up of PGIT Securities 2020 plc and those ZDP Shareholders holding ZDP Shares with "B" rights (ISIN GB00BN7CH532) will receive cash on the winding-up of PGIT Securities 2020 plc.
14,217,339 New ZDP Shares in PMGR Securities 2025 plc are expected to be issued to satisfy ZDP Shareholders holding ZDP Shares with "A" rights and to new ZDP shareholders who have participated in the Placing pursuant to the Result of Placing announcement made on 27 November. Application has been made for the New ZDP Shares of PMGR Securities 2025 plc to be admitted to the standard listing segment of the Official List and to trading on the Main Market of the London Stock Exchange. Dealings in the New ZDP Shares of PMGR Securities 2025 plc are expected to commence on 1 December 2020. The New ZDP Shares will trade using the ticker PMGZ and under ISIN GB00BNG43G36.
ZDP Shareholders who elected or are deemed to have elected for the Cash Option will be credited through the CREST system or sent cheques as soon as practicable from 1 December 2020.
A copy of the shareholder resolutions have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Terms used in this announcement shall have the same meaning as in the Circular.
Contact:
Premier Fund Managers Limited
01483 306090
Claire Long (claire.long@premiermiton.com)
James Smith (james.smith@premiermiton.com)
N+1 Singer
020 7496 3000
James Maxwell (james.maxwell@n1singer.com)
Iqra Amin (iqra.amin@n1singer.com)
