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RNS Number : 3186M

Electric & General Inv Tst PLC A

12 August 2011

Electric & General Investment Trust plc

12 August 2011

Result of the Second General Meeting

The Board of Electric & General Investment Trust plc (the "Company") announces that at the Second General Meeting of the Company held today, 12 August 2011, the special resolution before the meeting was approved by Shareholders. Accordingly, the Company has been placed in members' voluntary liquidation and Laura Waters and Tim Walsh both of PricewaterhouseCoopers LLP of 7 More London Riverside, London SE1 2RT have been appointed joint liquidators to the Company. Any enquiries relating to the shareholder distributions in the liquidation should be directed to Computershare Investor Services PLC on 0870 707 1032 or, if outside the UK, on +44 870 707 1032.

The Company's Shares with "A" rights and "B" rights were duly suspended at 7.30 a.m. this morning.

The resolution was passed on a show of hands. The result of the proxy votes on the special resolution was as follows:

 
 Votes for*:         19,693,720 Ordinary Shares 
 Votes against:      374,021 Ordinary Shares 
 Votes withheld**:   74,258 Ordinary Shares

* the "Votes for" include 64,988 votes giving the Chairman discretion.

** A "Vote withheld" is not a vote in law and is not counted in the calculation of the votes for or against the special resolution.

A copy of the resolution will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.hemscott.com/nsm.do.

Entitlements under the Scheme

In accordance with the Scheme, for every Share held in the Company Shareholders will receive 4.246 new shares in Electric & General Investment Fund ("E&G Fund") or 429.42 pence in cash, or such combination for which Shareholders have elected or are deemed to have elected. In addition, the liquidators anticipate making two further distributions, one of which should be later this year after the realisation of an illiquid investment and dividends receivable. The final distribution will be a distribution of any remaining assets at the close of the liquidation. Such distributions will be after the settlement of known liabilities and subject to no creditor claims coming to light.

The issue price of each new share in E&G Fund issued in connection with the Scheme will be GBP1. Under the terms of the Proposals, the formula asset value of the Company and of E&G Fund were calculated for the purposes of the Scheme as at 6.00 p.m. on 10 August 2011. New shares in E&G Fund will be issued to three decimal places.

Written confirmations in respect of the new shares in E&G Fund are expected to be despatched on or as soon as practicable after 12 August 2011. New shares in E&G Fund will be held in uncertificated form.

CREST accounts of Shareholders who elect for cash and who hold their Shares in CREST are expected to be credited and cheques in respect of Shareholders who elect for cash and who do not hold their Shares in CREST are expected to be despatched in the week commencing 15 August 2011.

Terms defined in the Circular posted to Shareholders on 30 June 2011 have the same meanings in this announcement.

Enquiries

 
 William Simmonds 
  J.P. Morgan Cazenove    020 7588 2828

( )

J.P. Morgan Cazenove, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Electric & General Investment Trust plc and for no one else, including any recipient of the Circular, in connection with the Proposals and will not be responsible to anyone other than Electric & General Investment Trust plc for providing the protections afforded to clients of J.P. Morgan Cazenove or for providing advice in relation to the Proposals or any other matter referred to therein.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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