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LSLI Lon.And ST Law.

398.75
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lon.And ST Law. LSE:LSLI London Ordinary Share GB0005310056 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 398.75 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Lon and St Lawrence Result of Meeting

12/04/2017 3:38pm

UK Regulatory


 
TIDMLSLI 
 
12 April 2017 
 
          London & St Lawrence Investment Company plc (the "Company") 
 
  Result of First General Meeting, Result of Elections, Reclassification and 
                               Portfolio Update 
 
On 20 March 2017, the Company announced proposals for a scheme of 
reconstruction under section 110 of the Insolvency Act, 1986 (as amended) (the 
"Scheme"). 
 
The Directors of the Company are pleased to announce that the two special 
resolutions proposed at the First General Meeting of the Company held earlier 
today, approving the reclassification of the Company's ordinary shares (the " 
Ordinary Shares") into Ordinary Shares of 5p each with "A" rights ("A Shares") 
and Ordinary Shares of 5p each with "B" rights ("B Shares") (together the " 
Reclassified Shares") and the amendment of the Company's articles of 
association and implementation of the Scheme were duly passed by 99.94 per cent 
and 99.94 per cent respectively, of those Shareholders present in person, by 
corporate representative or by proxy. 
 
The two ordinary resolutions in relation to the related party transactions in 
connection with the sale of Consistent Unit Trust Management Limited and the 
fee contribution by Aviva Investors Global Services Limited were also passed. 
 
Result of Elections 
 
The Board is pleased to announce the result of Elections. 
 
The last date for receiving Forms of Election was 1.00 p.m. on 11 April 2017. 
The results of the Elections are shown in the table below: 
 
Option                  Number         % 
 
Rollover Option         14,768,740     51.0 
 
Cash Option             14,180,204     49.0 
 
Reclassification of the Ordinary Shares 
 
As a result of the Elections referred to above, 14,768,740 Ordinary Shares will 
be reclassified as A Shares and 14,180,204 Ordinary Shares will be reclassified 
as B Shares. 
 
Application has been made to the UK Listing Authority and the London Stock 
Exchange for the listing in respect of the Ordinary Shares to be amended to 
reflect the reclassification of the Ordinary Shares as A Shares and B Shares. 
It is expected that such amendment will become effective and dealings in 
Reclassified Shares will commence with effect from 8 a.m. on 13 April 2017. 
 
                        A Shares           B Shares 
 
SEDOL                   BD4H6M1            BD4H6N2 
 
ISIN                    GB00BD4H6M13       GB00BD4H6N20 
 
TIDM                    LSLA               LSLB 
 
Description             ORD GBP0.05 (A     ORD GBP0.05 (B Rights) 
                        Rights) 
 
These will replace the existing Ordinary Shares (ISIN GB0005310056). 
 
Applications have also been made to the UK Listing Authority and the London 
Stock Exchange to suspend the listing of the A Shares and B Shares at 7.30am on 
20 April 2017. 
 
The Scheme remains conditional on the passing of the special resolutions at the 
Second General Meeting to be held at 10 a.m. on 20 April 2017. 
 
Copies of the special resolutions have been submitted to the National Storage 
Mechanism and will shortly be available for inspection at www.morningstar.co.uk 
/uk/nsm. 
 
Capitalised terms used in this announcement shall, unless the context otherwise 
requires, bear the meaning given to them in the circular dated 20 March 2017. 
 
Portfolio Update 
 
In anticipation of the Cash Option, the Company has liquidated a significant 
number of its investments raising cash of approximately GBP56m or 48.9% of the 
Company's NAV. 
 
Enquiries: 
 
London & St Lawrence Investment Company PLC 
 
Jenny Sculley                               +44 (0)1296 711598 
 
Cenkos Securities plc 
 
Sapna Shah                                 +44 (0)20 7397 1922 
 
Shamus Henderson                   +44 (0)20 7397 1917 
 
Francesc Garcia-Uriel                +44 (0)20 7397 1920 
 
 
 
END 
 

(END) Dow Jones Newswires

April 12, 2017 10:38 ET (14:38 GMT)

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