Alliance Trust PLC Alliance Trust Plc - Proposed Withdrawal Of Agm Resolution
14 April 2020 - 7:41PM
UK Regulatory
TIDMATST
Alliance Trust PLC -- Proposed withdrawal AGM Resolution
Further to the Company's announcement on 13 March 2020 regarding
publication of the Notice of Meeting for the Annual General Meeting on
Thursday 23 April 2020 at 11.00 a.m. (the "AGM"), the Board announces
that it proposes to withdraw resolution number 12 concerning the
conversion of its Merger Reserve into a distributable reserve (the
"Capital Reduction").
The proposed Capital Reduction requires both shareholder and court
approval. As a result of the current COVID-19 outbreak, the court is
presently closed to all but urgent business. It is not known when court
time will be secured to consider the Company's proposal when the court
re-opens. Due to anticipated pressure on the court to consider business
critical matters when it re-opens, the Board proposes to withdraw the
resolution from this year's AGM. The Board does however expect to put a
similar resolution forward at the Company's AGM in April 2021 after
which, court approval will be sought.
The proposed withdrawal of resolution 12 does not otherwise affect the
validity of the Notice of Meeting, the proxy form or any proxy votes
already submitted.
For further information please contact:
Alliance Trust PLC
Tel. +44 (0)1382 938320
(END) Dow Jones Newswires
April 14, 2020 05:41 ET (09:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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