Odyssean Investment Trust PLC Corporate Proposal (5574W)
23 December 2021 - 6:00PM
UK Regulatory
TIDMOIT
RNS Number : 5574W
Odyssean Investment Trust PLC
23 December 2021
LEI: 213800RWVAQJKXYHSZ74
23 December 2021
ODYSSEAN INVESTMENT TRUST PLC
Proposal to Strategic Equity Capital plc
The Board of Odyssean Investment Trust plc ("OIT") announces
that it has made a proposal to the Board of Strategic Equity
Capital plc ("SEC") regarding a combination of SEC and OIT to be
effected by way of a section 110 scheme of reconstruction by SEC
and a transfer of assets to OIT (the "Transaction"). The combined
entity would be managed by Odyssean Capital LLP under the existing
OIT investment strategy.
OIT has received letters of intent supporting the Transaction
from SEC shareholders representing 32.9 per cent. of the issued
share capital of SEC.
The Board believes the combination of OIT and SEC presents a
unique opportunity to create a leading investment trust
differentiated from the wider UK small cap sector. The combined
entity would have a long-term supportive shareholder base, strong
shareholder liquidity and discount control mechanisms, a premium
rating and greater scale, and this would be of long-term benefit
for both sets of shareholders.
The discussions between OIT and SEC are at an early stage and
accordingly there can be no certainty that terms of the Transaction
can be agreed. A further announcement will be made in due
course.
This announcement contains information that is inside
information for the purposes of the Market Abuse Regulation (EU)
No. 596/2014. Upon the publication of this announcement, this
information is considered to be in the public domain.
For further information, please contact:
Odyssean Investment Trust plc via Lansons
Jane Tufnell (Chair)
Winterflood Securities Limited +44 (0)20 3100 0000
Neil Langford neil.langford@winterflood.com
Hande Derinkok hande.derinkok@winterflood.com
Frostrow Capital LLP (Company
Secretary)
Kerstin Rucht +44 (0)20 3709 8732
Lansons +44 (0)7825 427 514
David Masters davidm@lansons.com
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