NCY New City High

RNS Number:8818R
New City High Yield Trust PLC
26 February 2007

  This announcement is not for release, publication or distribution in or into
   Australia, Canada, Japan, New Zealand, the Republic of South Africa or the
                                 United States

                                26 February 2007

                 NEW CITY HIGH YIELD TRUST PLC (THE "COMPANY")

                           RECOMMENDED PROPOSALS FOR
                    THE VOLUNTARY WINDING UP OF THE COMPANY
                  AND THE ROLLOVER OF SHAREHOLDERS' INTERESTS
                INTO NEW CITY HIGH YIELD FUND LIMITED ("NCHYF")

                              RESULT OF FIRST EGM

The Board announces that the resolution to approve the scheme of voluntary
winding up of the Company and the rollover of Shareholders' interests into NCHYF
proposed at the First Extraordinary General Meeting held at 10.30 a.m. today was
duly passed.

The Second Extraordinary General Meeting will be held at 10.30 a.m. on 6 March
2007 at which a special resolution to wind up the Company voluntarily and to
appoint the Liquidators will be proposed.  It is expected that, if that
resolution is passed, the Scheme will become effective on 6 March 2007 and
dealings in the shares of New City High Yield Fund Limited will commence at 8.00
a.m. on 7 March 2007.

The record date for Shareholders to participate in the Scheme will be 6.00 p.m.
on 5 March 2007 and the Register will be closed and the Ordinary Shares will be
disabled in CREST at that time.  Dealings in the Ordinary Shares on the London
Stock Exchange's Main Market will be suspended from 7.30 a.m. on Tuesday, 6
March 2007.  The listing of the Ordinary Shares will be cancelled after the
Company has been placed in liquidation (and, in any event, by Tuesday, 5 March
2008).

Copies of the resolution passed at the First EGM will be delivered to the UK
Listing Authority shortly and will then be available for inspection at the UK
Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel: 020 7066 1000

Enquiries
Sue Inglis/Darren Willis         Intelli Corporate Finance Limited              Tel: 020 7653 6300
Adam Cooke                       New City Investment Managers Limited           Tel: 020 7557 4370

Notes

Intelli Corporate Finance Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting solely for New
City High Yield Trust PLC and New City High Yield Fund Limited and for no one
else in connection with the Proposals and will not be responsible to anyone
other than New City High Yield Trust PLC and New City High Yield Fund Limited
for providing the protections afforded to clients of Intelli Corporate Finance
Limited or for affording advice in relation to the Proposals or any other matter
referred to in this announcement.

This announcement does not constitute an offer to acquire, issue or sell or a
solicitation of an offer to buy or sell any securities.

Unless the context otherwise requires, terms used in this announcement shall
bear the meanings given to them in the circular to the Company's shareholders
dated 2 February 2006.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

REGEASAKAFPXEFE

New City High Yield Trust (LSE:NCY)
Historical Stock Chart
From May 2024 to Jun 2024

New City High Yield Trust (LSE:NCY)
Historical Stock Chart
From Jun 2023 to Jun 2024