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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 |
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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