Lon and St Lawrence Result of Meeting

 
TIDMLSLI 
 
20 April 2017 
 
     London and St Lawrence Investment Company PLC (in members' voluntary 
                         liquidation) (the "Company") 
 
              Update on the Scheme and Results of General Meeting 
 
Results of the Second General Meeting 
 
The Board of London and St Lawrence Investment Company PLC announces that at 
the Second General Meeting, held earlier today, the special resolutions were 
duly approved by Shareholders. 
 
Accordingly, the Company has been placed into members' voluntary liquidation 
and James Eldridge and Jeremy Willmont, both of Moore Stephens LLP, have been 
appointed as liquidators. 
 
The Company's Reclassified Shares and Preference Shares were suspended at 7.30 
a.m. this morning. 
 
Applications have been made to the UK Listing Authority and the London Stock 
Exchange for the listing and admission to trading for the Reclassified Shares 
and Preference Shares to be cancelled.  It is expected that such cancellation 
will take place at 8 a.m. on 21 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. 
 
Terminal Asset Value 
 
Further to the passing of the resolutions at the Company's General Meetings and 
under the terms of the Proposals, the TAV of the Company was calculated as at 
12 noon on 18 April 2017 and is 390.23 pence.  Ordinary Shareholders who 
elected, or were deemed to have elected, to rollover into Practical Income 
Units will be receive 1.668374519 Units for every Ordinary Share. 
 
Cheques and contract notes for Practical Income Units issued under the Scheme 
are expected to be dispatched by the Company's registrars in the week 
commencing 24 April 2017. 
 
Preference Shares 
 
In accordance with the Articles, holders of the Company's Preference Shares 
will receive a distribution equal to the nominal value of GBP1.00 for each 
Preference Share and the accrued but unpaid preference dividends equal to 
0.6849 pence for each Preference Share.  It is expected that cheques for this 
payment will be dispatched in the week commencing 24 April 2017. 
 
Purchase Price for Consistent 
 
As part of the Proposals, and in conjunction with the liquidation of the 
Company, on 12 April 2017, Shareholders approved the sale of Consistent Unit 
Trust Management Company Limited to the Ashfield Consortium. The Ashfield 
Consortium will purchase Consistent Unit Trust Management Company Limited for a 
consideration of GBP3.29 million.  The proceeds of this sale will be distributed 
to all Ordinary Shareholders on the Company's register on 20 April 2017 during 
the course of the liquidation in one or more interim distributions after the 
settlement of the Company's creditors. 
 
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. 
 
Enquiries: 
 
London & St Lawrence Investment Company PLC 
 
Jenny Sculley                    [phone] 
 
Moore Stephens LLP 
 
James Eldridge                   [phone] 
 
Cenkos Securities plc 
 
Sapna Shah                         [phone] 
 
Shamus Henderson             [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

April 20, 2017 05:27 ET (09:27 GMT)