Result of EGM

 
TIDMSVLC 
 
 

  SMALLER COMPANIES VALUE TRUST PLC 
 

  RESOLUTIONS TO WIND UP COMPANY 
 

  30 April 2009 
 

  Smaller Companies Value Trust PLC (the "Company") refers to the circular (the "Circular") to shareholders dated 1 April 2009 convening an EGM which was held earlier today at which three resolutions (the "Resolutions") were put to shareholders (i) to put the Company into members' voluntary liquidation, (ii) to authorise the remuneration of the liquidators to be fixed and (iii) to authorise the liquidators to act pursuant to section 165 of the Insolvency Act 1986 and certain other ancillary matters. As explained in the Circular, the Company's articles of association contain mandatory voting provisions, the effect of which was that the resolution to put the Company into members' voluntary liquidation would be passed regardless of votes cast. The Resolutions were passed by shareholders earlier today and the Company is now in members' voluntary liquidation, Jeremy Spratt and Blair Nimmo of KPMG, Saltire Court, 20 Castle Terrace, Edinburgh EH1 2EG having been appointed liquidators. 
 

  The Circular set out for shareholders illustrative entitlements on liquidation, based on specified assumptions, and also the expected timing of payment of distributions. The Circular explained that a retention of GBP75,000 was proposed to be made against sums otherwise due to the income shareholders of the Company, in order to provide for any unknown liabilities. The liquidators of the Company have considered the position of the Company further and in view of the possibility that unknown liabilities may come to light which should properly be charged against capital reserves, the liquidators will also retain GBP25,000 against sums due to the capital shareholders. 
 

  Payment of the initial distribution to income shareholders is expected to be made on 1 May 2009 and the initial distribution to capital shareholders is expected to be made in the week commencing 4 May 2009. 
 

  The UK Listing Authority has been requested to cancel the listing of the income shares of 1 pence each, capital shares of 1 pence each and package units issued by the Company by 8.00 a.m. on 1 May 2009. 
 

  Copies of the Resolutions will be submitted to the FSA, and will shortly be available for inspection at the FSA's Document Viewing Facility which is situated at: 
 

  Financial Services Authority25 The North ColonnadeCanary WharfLondon E14 5HS 
 

  Enquiries: 
 

  Douglas McGregorKPMG LLPTel: 0131 527 6706 
 

  Paul Fincham/Jonathan BecherMatrix Corporate Capital LLPTel: 0203 206 7000