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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Schroder Glbl R | LSE:SGRE | London | Ordinary Share | GB00B132SB63 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 135.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
28 April 2016
SCHRODER GLOBAL REAL ESTATE SECURITIES LIMITED
RESULT OF FIRST GENERAL MEETING AND ELECTIONS
Further to the proposals for the reconstruction and voluntary winding up of the Company contained in the circular dated 3 March 2016, the Board is able to announce that the special resolutions put forward at the First General Meeting of Shareholders, held today, have been approved by Shareholders. A copy of the special resolutions from the meeting are available on the National Storage Mechanism at www.morningstar.co.uk/uk/nsm.
The Company has received the following elections, including deemed elections, under the Proposals: the Cash Option – 32,310,709 Shares, the SUTL GPS Option – 15,933,726 Shares and the SISF GPS Option 540,892 Shares. The listing of the Company’s ordinary shares was suspended at 7.30 am this morning and such ordinary shares will now be re-classified under the Scheme as Shares with A Rights, B Rights and C Rights in accordance with the elections.
As stated in the Circular, with effect from today and in advance of the Effective Date, realisation of the investment portfolio will commence in accordance with the Scheme and the elections made (or deemed to have been made) so that sufficient cash is available in the Cash Pool. It is expected that the balance of the Company’s investment portfolio will continue to be held in accordance with the investment policy, in readiness for in specie transfer to SUTL GPS and SISF GPS.
The Scheme remains conditional on the passing of the resolutions for the appointment of the Liquidator at the Second General Meeting which is due to take place at 12 noon on 11 May 2016, when a further announcement will be made. The Proposals will not become effective unless such Resolutions are passed. The Company has requested, subject to the passing of such resolutions, the cancellation of the listing of the ordinary shares on the Official List; this cancellation is expected to take effect at 8.00 a.m. on 8 June 2016.
Defined terms used in this announcement have the meanings given in the circular published by the Company on 3 March 2016 unless the context otherwise requires.
Enquiries:
Neil Turner
Schroder Real Estate Investment Management Limited
Tel : +44 (0) 207 658 3017 or +44 (0) 207 658 3780
Franczeska Hanford
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: +44 (0) 1481 745918
Paul Fincham or Jonathan Becher
Panmure Gordon
Tel : +44 (0) 207 886 2500
Company website: www.schroderglobalrealestatesecurities.com
EXPECTED TIMETABLE
2016 | |
Latest time and date for receipt of Forms of Proxy from Shareholders in respect of the Second General Meeting | 12 noon on 9 May |
Calculation Date (calculation of the Residual NAV and the Company’s assets apportioned between the four Rollover Pools) | close of business on 10 May |
Second General Meeting | 12 noon on 11 May |
RNS announcement of the results of the Second GM | 11 May |
Effective Date for implementation of the Scheme and commencement of the voluntary winding up of the Company | 11 May |
Dealings in the Rollover Shares issued to Eligible Shareholders under the Scheme commence | 11 May |
Contract notes in respect of Rollover Shares issued under the Scheme despatched to Eligible Shareholders entitled thereto | 11 May (or as soon as practicable thereafter) |
SUTL Manager to contact Shareholders where applicable to complete application details | from 11 May (for a 90 day period) |
Cheques expected to be despatched and CREST payments made to Shareholders in respect of cash Elections made under the Scheme | No later than week commencing 16 May |
Cancellation of the listing of the Shares on the Official List | 8 June |
END
Copyright l 28 PR Newswire
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