Absolute Return Trust Limited Notice of EGM (3606Q)

TIDMABR

RNS Number : 3606Q

Absolute Return Trust Limited

11 October 2013

Absolute Return Trust Limited (the "Company")

(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 42733)

PUBLICATION OF CIRCULAR AND NOTICE OF EXTRAORDINARY GENERAL MEETING

11 October 2013

Following the announcement made by Absolute Return Trust Limited (the "Company") on 7 September 2012, and following discussions with the Company's Investment Manager, advisers and major shareholders, the Directors of the Company have decided to recommend to Shareholders that the Company be placed into liquidation. The Company has today published and posted a Circular to its Shareholders including recommended Proposals for the voluntary winding-up of the Company. The Proposals are subject to Shareholders' approval. The Circular also contains Notice of Extraordinary General Meeting of the Company to be held at the offices of the Company at PO Box 255, Trafalgar Court, Les Banques, St Peter Port, Guernsey GY1 3QL on 20 November 2013.

At the Extraordinary General Meeting the following Resolution will be put to Shareholders to approve the Proposals:

SPECIAL RESOLUTION

(a) That the company be wound up voluntarily pursuant to section 391(1)(b) of The Companies (Guernsey) Law, 2008 (as amended);

(b) That pursuant to article 82 of the Company's Articles, from the date of appointment of the Liquidators, the Company is permitted to have a sole Director;

(c) That the suspension and cancellation of the listing of the Shares on the Official List and the admission of the Shares to trading on the Main Market be and is hereby approved and the suspension of the authorisation of the Company by the Commission under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 be and is hereby approved;

(d) That Linda Maree Johnson and Ashley Charles Paxton, of KPMG Channel Islands Limited, 20 New Street, St Peter Port, Guernsey GY1 4AN, be and are hereby as joint liquidators (the "Liquidators") for the purposes of winding up; and

(e) That the Liquidators' remuneration is fixed in accordance with the engagement letter and terms of business issued by KPMG Channel Islands Limited in respect of the proposed liquidation of the company.

Conditional upon the Resolution being passed, Andrew Sykes, Nicholas Fry, Robert King and Nicholas Moss will resign as Directors of the Company and Graham Harrison will remain as a Director in order to assist the Liquidators with the Liquidation. Mr Harrison will continue to be paid in accordance with his existing arrangements, but has waived any remuneration he would otherwise have received over the course of the Liquidation in excess of GBP15,000.

The Company will not be required to prepare any further audited financial statements. This will maximise the cost-effectiveness of the Proposals, more details in relation to which are set out in the Circular.

Expected timetable

 
 Latest time and date for receipt           11.30 a.m. on 18 November 
  of Forms of Proxy for the Extraordinary                        2013 
  General Meeting 
 Extraordinary General Meeting              11.30 a.m. on 20 November 
                                                                 2013 
 Announcement of the result of the                   20 November 2013 
  Extraordinary General Meeting 
 Closing of the Company's register           6.00 p.m. on 20 November 
  and Record Date for participation                              2013 
  in liquidation distributions 
 Suspension of listing                       7.30 a.m. on 20 November 
                                                                 2013 
 Last day of listing                                 18 December 2013 
 Delisting of Shares                         8.00 a.m. on 19 December 
                                                                 2013 
 

Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning given to such terms in the Circular.

Enquiries:

Northern Trust

Andrew Maiden

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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