Results of Meetings (9532D)

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RNS Number : 9532D

F&C Private Equity Trust PLC

23 May 2012

23 May 2012

F&C PRIVATE EQUITY TRUST PLC and F&C PRIVATE EQUITY ZEROS PLC

Result of meetings

F&C Private Equity Trust plc announces that, at its annual general meeting held earlier today, all 13 resolutions were duly passed. The resolutions passed as special business were as follows:

-- to renew the Company's authority to purchase up to 14.99% of its Ordinary Shares and up to 14.99% of its Restricted Voting Shares currently in issue for cancellation, subject to the terms and conditions set out in the relevant resolution;

-- to amend the Company's Articles so as to remove the prohibition on distributing realised capital profits as dividends; and

   --           to amend the Management Agreement to incorporate a New Performance Fee. 

In addition, F&C Private Equity Trust plc announces that the special resolution approving the payment of dividends on the Ordinary Shares out of the realised capital profits attributable to the Ordinary Pool was duly passed at a separate general meeting of Ordinary Shareholders held earlier today.

F&C Private Equity Zeros plc announces that, at its general meeting held earlier today, the special resolution cancelling its share premium account and crediting the amount cancelled to a distributable reserve which may be used in any manner in which its profits available for distribution may be used was duly passed. That resolution remains conditional on the confirmation of and any undertaking required by the Court, and application will now be made to the Court for such confirmation, which is expected to occur in September 2012.

F&C Private Zeros Trust plc also announces that special resolutions:

-- sanctioning the cancellation of its share premium account and crediting the amount cancelled to a distributable reserve; and

-- authorising it to make market purchases of up to 14.99 per cent. of its issued ZDP Shares in any 12 month period, subject to the to the terms and conditions set out in the relevant resolution;

were duly passed at a separate general meeting of ZDP Shareholders held earlier today.

A summary of proxy votes received on each of the resolutions passed at the Meetings will shortly be available on F&C Private Equity Trust plc's website, www.fcpet.co.uk.

The full text of the resolutions passed at the Meetings can be found in the circular to the shareholders of F&C Private Equity Trust plc and the shareholders of F&C Private Equity Zeros plc dated 24 April 2012, copies of which are available for inspection at the National Storage Mechanism which can be located at www.hemscott.com/nsm.do and on F&C Private Equity Trust plc's website, www.fcpet.co.uk. Words and expressions defined in that circular have the same meanings when used in this announcement.

Enquiries

 
 G R Hay Smith   F&C Asset Management   T: 020 7628 800 
                  plc 
 

Note

None of F&C Private Equity Trust plc's website, the National Storage Mechanism's website or the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of, this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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