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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Blue Planet | LSE:BPW | London | Ordinary Share | GB0001524171 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 29.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBPW BLUE PLANET WORLDWIDE FINANCIALS INVESTMENT TRUST PLC Merger Update The Board is pleased to report that shareholders of the Company, Blue Planet International Financials Investment Trust plc ("International") and Blue Planet Financials Growth & Income Investment Trusts Nos (1 - 10) plc ("G&I") have overwhelmingly voted in favour of the merger of the companies ("the Merger") with over 98% of the votes cast at the first general meetings of the three companies which took place on 19 April 2012, being in favour of it. However, before the Merger can be completed International must first restructure its share capital and split each of its 50p ordinary shares into a 1p ordinary share and a 49p deferred share. A meeting of International's shareholders will shortly be convened to consider the resolution necessary to give effect to this. The meeting is expected to be held in early June 2012 (the "International Meeting"). International's largest shareholders (who accounted for 95% of the votes cast at the general meeting on 19 April 2012) have given irrevocable commitments to vote in favour of the resolution. Consequently, the board is confident that it will be passed. The meeting of the Company which was adjourned on 27 April 2012 and again on 9 May 2012 will now be held at 11.30am on 18 May 2012 (the "Adjourned Meeting") (this being the latest date on which the meeting can be held in accordance with the Insolvency Act 1986). The Adjourned Meeting will consider a special resolution to put the Company into liquidation immediately. However, the Merger cannot be completed unless and until the resolution proposed at the International Meeting which is expected to be held in early June 2012 has been passed. Consequently, there is a risk, albeit a small one, that if the resolution proposed at the International Meeting is not passed then the Company will be wound up and the Merger will not take place. The directors need to draw your attention to that risk even though we do not think that such an outcome is likely. In respect of the Adjourned Meeting, the proxies received from Shareholders to date have been overwhelmingly in support. These proxies will continue to be effective, however, new or amended proxies will also be accepted until 11.30am on 16 May 2012 (this being 48 hours prior to the reconvened date of the meeting). Additional forms of proxy or letters of direction (as the case may be) can be obtained by contacting the Company's registrar on 0871 664 0321. As a result of this delay to the Merger, the record date and calculation date for the Merger are expected to move to the day before the International Meeting. If, as expected, the Merger completes in early June 2012, International shares will be issued to Shareholders on the date of the International Meeting and it is expected that these will be admitted to trading the following business day and with new share certificates being dispatched approximately seven days thereafter. Cancellation of the listing of the Company's Shares is, therefore, expected to take effect on 20 June 2012. Company secretary and administrator for the Company: Blue Planet Investment Advisers Ltd Telephone: +44 (0)131 466 6666 Email: info@bpia.eu END
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