Result of EGM

RNS Number:9120R
Aberforth Split Level Trust PLC
11 November 2003

Aberforth Split Level Trust plc



Result of the Second EGM held on 10 November 2003 at 4.00pm


The Board of Aberforth Split Level Trust plc (the "Company") is pleased to
announce that at the Second Extraordinary General Meeting of the Company held
yesterday, 10th November 2003, Shareholders approved the resolutions before the
meeting.  Accordingly, the Company has been placed in members' voluntary
liquidation and Thomas Merchant Burton and Patrick Joseph Brazzill of Ernst &
Young LLP have been appointed joint Liquidators to the Company.  Shareholders in
person or represented by proxy or by letters of representation holding
35,199,258 shares, being 56.76 per cent. of the issued share capital, voted or
were deemed to have voted on the resolution to put the Company into members'
voluntary liquidation, with 99.99 per cent. being in favour.


Entitlements under the Scheme


In accordance with the reconstruction Proposals:


*         for every 1,000 Units held in the Company, Shareholders will receive
1,433.060 shares in Aberforth Smaller Companies Trust plc where they have
elected for the ASCoT Option, or 114.66694 units in Aberforth UK Small Companies
Fund where they have elected for the AFund Option, and in respect of elections
for the Realisation Pool the Liquidators have indicated their intention to make
a full distribution of 626.73p per Unit on 14 November 2003, or as soon as
possible thereafter;


*         for every 1,000 Capital Shares held in the Company, Shareholders will
receive 1,384.444 shares in Aberforth Smaller Companies Trust plc where they
have elected for the ASCoT Option, or 110.72705 units in Aberforth UK Small
Companies Fund where they have elected for the AFund Option, and in respect of
elections for the Realisation Pool the Liquidators have indicated their
intention to make a full distribution of 605.23p per Capital Share on 14
November 2003, or as soon as possible thereafter;


*         for every 1,000 Income Shares held in the Company, Shareholders will
receive 48.616 shares in Aberforth Smaller Companies Trust plc where they have
elected for the ASCoT Option, or 3.93989 units in the Aberforth UK Small
Companies Fund where they have elected for the AFund Option, and in respect of
elections for the Realisation Pool the Liquidators have indicated their
intention to make a full distribution of 21.5p per Income Share on 14 November
2003, or as soon as possible thereafter.


The issue price of shares in Aberforth Smaller Companies Trust plc was 442.24p,
being the net asset value (including all revenue reserves and current net
revenue) as at close of business on 7 November 2003, for shares issued under the
Scheme. Dealings in respect of the New ASCoT Shares commenced at 8.00am today
and certificates are expected to be issued during the week commencing 17
November 2003.  A total of 13,991,054 New ASCoT Shares have been issued such
that the total now outstanding is 98,809,788.


The issue price of units in Aberforth UK Small Companies Fund was 5457p, being
the Issue Price as at  4.30pm on 10 November 2003, for units issued under the
Scheme.  Confirmation notes in respect of the new AFund Units are expected to be
despatched today.  A total of 513,587.53 new AFund Units have been issued
pursuant to the Scheme and the total now outstanding is 7,956,694.96.


The Realisation Pool comprises entirely cash or cash equivalent assets enabling
the Liquidators to make the full distributions alluded to above.  An
announcement relating to this was made on 4 November 2003.


Shareholders are reminded that the register of holders of Reclassified Shares
has closed and that dealings in the Shares have been suspended.



Enquiries:


David Warnock / David Holland              0131 220 0733
Aberforth Partners



Angus Gordon Lennox / William Simmonds     020 7588 2828
Cazenove & Co. Ltd



Capitalised words and expressions used in this announcement shall bear the same
meanings as in the circular dated 29 September 2003, a copy of which is
available at the document viewing facility of the UK Listing Authority.



END




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