Aberforth Gd Inc Tt Statement re Elections under Scheme

 
TIDMAGIT 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM 
CANADA, AUSTRALIA, JAPAN, NEW ZEALAND AND THE REPUBLIC OF SOUTH AFRICA. 
 
This announcement is an advertisement and not a prospectus. This announcement 
does not constitute or form part of, and should not be construed as, any offer 
for sale or subscription of, or solicitation of any offer to buy or subscribe 
for, any securities in Aberforth Geared Income Trust plc (the "Company") or 
Aberforth Split Level Income Trust plc ("ASLIT") or securities in any other 
entity, in any jurisdiction, including the United States, nor shall it, or any 
part of it, or the fact of its distribution, form the basis of, or be relied on 
in connection with, any contract or investment decision whatsoever, in any 
jurisdiction. This announcement does not constitute a recommendation regarding 
any securities. Any investment decision must be made exclusively on the basis 
of the final prospectus published by ASLIT and any supplement thereto or the 
final circular published by the Company. 
 
20 June 2017 
 
Aberforth Geared Income Trust plc (the "Company") - Elections under Scheme 
 
Further to the proposals for the reconstruction and winding up of the Company 
which were announced on 19 May 2017, the results of elections under the Scheme 
were as follows: 
 
  * elections for ordinary shares in Aberforth Split Level Income Trust plc 
    ("ASLIT") were made, or deemed to have been made in respect of: 
      + 64,492,056 of the Company's Ordinary Shares (representing approximately 
        58.9 per cent. of the Company's Ordinary Shares in issue); and 
      + 3,492,087 of the Company's Zero Dividend Preference Shares 
        (representing approximately 4.8 per cent. of the Company's Zero 
        Dividend Preference Shares in issue). 
 
  * elections for zero dividend preference shares in ASLIT were made in respect 
    of: 
      + 36,314,439 of the Company's Zero Dividend Preference Shares 
        (representing approximately 49.7 per cent. of the Company's Zero 
        Dividend Preference Shares in issue). 
 
  * elections for cash were made, or deemed to have been made in respect of: 
      + 45,007,944 of the Company's Ordinary Shares (representing approximately 
        41.1 per cent. of the Company's Ordinary Shares in issue); and 
      + 33,193,474 of the Company's Zero Dividend Preference Shares 
        (representing approximately 45.5 per cent. of the Company's Zero 
        Dividend Preference Shares in issue). 
 
The elections for ASLIT Shares pursuant to the Scheme may be subject to any 
scaling back required under the terms of the Proposals. 
 
A further announcement in respect of the reclassification of the Company's 
Shares, the result of ASLIT's Placing and Offer and the number of ASLIT 
Ordinary Shares and ASLIT ZDP Shares to be issued will be made on 29 June 2017. 
 
The Scheme remains conditional on, among other conditions, the passing of the 
special resolution to place the Company into members' voluntary liquidation 
which will be proposed at the Second Meeting of the Company convened for 30 
June 2017. The Scheme will not become effective unless the resolution is 
passed. 
 
                              EXPECTED TIMETABLE 
 
All references are to UK time.                                                  2017 
 
Calculation Date                                            the close of business on 
                                                                     Friday, 23 June 
 
Latest time and date for receipt of applications        3.00 p.m. on Monday, 26 June 
under the Placing* 
 
Latest time and date for receipt of green forms of       11.00 a.m. on Wednesday, 28 
proxy for the Second Meeting                                                    June 
 
Shares disabled in CREST                             7.30 a.m. on Wednesday, 28 June 
 
Regulatory Information Service announcement of the                           29 June 
results of the ASLIT Placing and Offer and the 
number of ASLIT Ordinary Shares and ASLIT ZDP Shares 
to be issued pursuant to the Scheme 
 
Amendment to the Of?cial List and dealings in         8.00 a.m. on Thursday, 29 June 
Reclassi?ed Shares commence on the London Stock 
Exchange 
 
Dealings in Reclassi?ed Shares suspended                7.30 a.m. on Friday, 30 June 
 
Second Meeting                                         11.00 a.m. on Friday, 30 June 
 
Effective Date for implementation of the Proposals                   Friday, 30 June 
and commencement of the liquidation of the Company 
 
Admission to listing of the ASLIT Shares to be           8.00 a.m. on Monday, 3 July 
issued pursuant to the Scheme and of the ASLIT 
Shares to be issued pursuant to the ASLIT Placing 
and Offer 
 
ASLIT Shares issued in uncerti?cated form credited       8.00 a.m. on Monday, 3 July 
to CREST accounts of Shareholders under the Scheme 
 
ASLIT Shares issued in uncerti?cated form credited      11.00 a.m. on Monday, 3 July 
to CREST accounts of ASLIT Shareholders under the 
Placing and  Offer 
 
CREST payments made in respect of cash entitlements                   Friday, 7 July 
of Shareholders under the Scheme 
 
Cheques despatched in respect of cash entitlements                    Friday, 7 July 
of Shareholders under the Scheme 
 
De?nitive certi?cates in respect of ASLIT Shares     week commencing Monday, 10 July 
issued in certi?cated form pursuant to the Scheme 
despatched to Shareholders entitled thereto 
 
Cancellation of listing of the Reclassi?ed Shares                    Monday, 10 July 
 
Each of the times and dates in the above expected timetable (other than in 
relation to the Meetings) may be extended or brought forward without further 
notice. If any of the above times and/or dates change, the revised time(s) and/ 
or date(s) will be noti?ed to Shareholders by an announcement through a 
Regulatory Information Service provider. 
 
*The Directors may, with the prior approval of J.P. Morgan Cazenove, alter such 
dates and thereby lengthen the period for returning Application Forms under the 
Offer making commitments under the Placing to a date no later than 30 June 2017 
and/or the date of Admission to a date or dates no later than 31 July 2017. The 
Company will notify investors of any such changes to these dates by making an 
announcement via a Regulatory Information Service. All references in the 
announcement to times are to London times. 
 
Terms used in this announcement shall have the same meaning as set out in the 
Circular published by the Company on 19 May 2017. 
 
For further information, please contact: 
 
Investment Managers 
 
Aberforth Partners LLP                        [phone] 
Euan Macdonald 
Alistair Whyte 
 
Advisers to the Company 
 
Dickson Minto W.S.                            [phone] 
Douglas Armstrong 
 
Advisers to ASLIT 
 
J.P. Morgan Cazenove (JPMC)             [phone] 
William Simmonds 
Edward Gibson-Watt 
Oliver Kenyon 
 
Kepler Partners LLP                           [phone] 
Hugh van Cutsem 
 
The information contained in this announcement is given at the date of its 
publication (unless otherwise marked) and is subject to updating, revision and 
amendment from time to time. 
 
Dickson Minto W.S., which is authorised and regulated by the Financial Conduct 
Authority, is acting only for the Company in connection with the matters 
described in this announcement and is not acting for or advising any other 
person, or treating any other person as its client, in relation thereto and 
will not be responsible to anyone other than the Company for providing the 
protections afforded to clients of Dickson Minto W.S. or advice to any other 
person in relation to the matters contained herein. 
 
J.P. Morgan Cazenove, which is authorised and regulated by the Financial 
Conduct Authority, is acting only for ASLIT in connection with the matters 
described in this announcement and is not acting for or advising any other 
person, or treating any other person as its client, in relation thereto and 
will not be responsible to anyone other than the ASLIT for providing the 
protections afforded to clients of J.P. Morgan Cazenove or advice to any other 
person in relation to the matters contained herein. 
 
Kepler Partners LLP, which is authorised and regulated by the Financial Conduct 
Authority, is acting only for ASLIT in connection with the matters described in 
this announcement and is not acting for or advising any other person, or 
treating any other person as its client, in relation thereto and will not be 
responsible to anyone other than the ASLIT for providing the protections 
afforded to clients of Kepler Partners LLP or advice to any other person in 
relation to the matters contained herein. 
 
This announcement may include statements that are, or may be deemed to be, 
"forward-looking statements". These forward-looking statements can be 
identified by the use of forward-looking terminology, including the terms 
"believes", "estimates", "anticipates", "expects", "intends", "may", "will" or 
"should" or, in each case, their negative or other variations or comparable 
terminology. All statements other than statements on historical facts included 
in this announcement, including, without limitation, those regarding the 
Company's financial position, strategy, plans, proposed acquisitions and 
objectives, are forward-looking statements. 
 
Forward-looking statements are subject to risks and uncertainties and, 
accordingly, ASLIT's actual future financial results and operational 
performance may differ materially from the results and performance expressed 
in, or implied by, the statements. These forward-looking statements speak only 
as at the date of this announcement and cannot be relied upon as a guide to 
future performance. Aberforth Partners LLP and Dickson Minto W.S. expressly 
disclaim any obligation or undertaking to update or revise any forward-looking 

statements contained herein to reflect actual or any change in the assumptions, 
conditions or circumstances on which any such statements are based unless 
required to do so by the Financial Services and Markets Act 2000, the 
Prospectus Rules of the Financial Conduct Authority or other applicable laws, 
regulations or rules. 
 
None of the Company, ASLIT, Aberforth Partners LLP, J.P. Morgan Cazenove or 
Dickson Minto W.S., or any of their respective affiliates, accepts any 
responsibility or liability whatsoever for or makes any representation or 
warranty, express or implied, as to this announcement, including the truth, 
accuracy or completeness of this information in this announcement (or whether 
any information has been omitted from the announcement) or any other 
information relating to the Company or associated companies, whether written, 
oral or in visual or electronic form, and howsoever transmitted or made 
available or for any loss howsoever arising from any use of the announcement or 
its contents or otherwise arising in connection therewith. The Company, ASLIT, 
Aberforth Partners LLP and Dickson Minto W.S., and their respective affiliates, 
accordingly disclaim all and any liability whether arising in tort, contract or 
otherwise which they might otherwise have in respect of this announcement or 
its contents or otherwise arising in connection therewith. 
 
This announcement does not constitute a prospectus relating to ASLIT, or form 
part of, any offer or invitation to sell or issue, or any solicitation of any 
offer to purchase or subscribe for, any shares in the Company or ASLIT in any 
jurisdiction nor shall it, or any part of it, or the fact of its distribution, 
form the basis of, or be relied on in connection with or act as any inducement 
to enter into, any contract therefor. Investors should not purchase or 
subscribe for any transferable securities referred to in this announcement 
except on the basis of information contained in the prospectus being considered 
for publication by ASLIT in due course. The contents of such prospectus will, 
if published, supersede the information in this announcement. 
 
Nothing in this announcement constitutes investment advice and any 
recommendations that may be contained herein have not been based upon a 
consideration of the investment objectives, financial situation or particular 
needs of any specific recipient. Copies of the prospectus are available from 
www.morningstar.co.uk/uk/nsm. 
 
 
 
END 
 

(END) Dow Jones Newswires

June 20, 2017 06:29 ET (10:29 GMT)