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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cazenove AB. | LSE:CAEL | London | Ordinary Share | GG00B1FQF604 | RED PART PREF SHS 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 128.875 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jun 2019 to Jun 2024
TIDMCAEL
RNS Number : 3529E
Cazenove Absolute Equity Limited
30 May 2012
Cazenove Absolute Equity Limited
30 May 2012
Proposals regarding the future of the Company
On 14 May 2012 the Board announced the intention to put forward proposals at the 2012 AGM regarding the continuation of the Company. In accordance with the Company's articles of incorporation the Board is required to put forward to the forthcoming AGM an ordinary resolution that the Company should continue as an investment company.
It is the Board's intention to recommend that shareholders vote against continuation and, subject to such resolution being defeated, to put forward proposals relating to the winding up and/or reconstruction of the Company. Shareholders representing approximately 60 per cent. of the issued share capital have confirmed that they would follow the Board's recommendation and vote against the continuation of the Company as an investment company.
The investment approach set out at launch provided that the Company can, at the discretion of the Investment Manager, hold cash or equivalent instruments from time to time where this is considered to be in the best interests of Shareholders. In light of the expectation that the continuation vote will not be passed, the Board has, on the advice of the Investment Manager, approved a process of gradual portfolio realignment with immediate effect. The Board accordingly expects that, in the period leading up to the approval of the proposed winding up or reconstruction, the portfolio will comprise a greater proportion of cash or equivalent instruments than has previously been the case. It is proposed that all future periodic announcements of the net asset value will include an indication as to the proportion of the portfolio held in cash or equivalent instruments.
A circular to shareholders setting out the notice of the 2012 AGM (and any other general meetings that may be required), including the continuation vote and the winding up or reconstruction proposals, will be sent out in or around late June. A full announcement setting out details of the proposals noted above will be made at that time.
Enquiries:
Corporate Broker
David Benda
Numis Securities Limited
Tel: 020 7260 1000
Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: 01481 745381
This information is provided by RNS
The company news service from the London Stock Exchange
END
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