Polar Capital Global Financials Tst Results of General Meeting and Tender Offer (1149J)
08 April 2020 - 4:00PM
UK Regulatory
TIDMPCFT
RNS Number : 1149J
Polar Capital Global Financials Tst
08 April 2020
Legal Entity Identifier: 549300G5SWN8EP2P4U41
8 April 2020
Polar Capital Global Financials Trust plc ("the Company")
Results of the General Meeting and Tender Offer
Subsequent to the Company's shareholder circular of 12 March
2020, in which proposals (the "Proposals") were put forward for the
provision of a tender offer to shareholders (the "Tender Offer")
together with changes to the Company's Articles of Association to
extend the Company's life indefinitely subject to further regular
tender offers, the Company held the General Meeting on 7 April 2020
at which the resolution detailing the Proposals was passed
unanimously on a poll.
The following table indicates the number of proxy votes lodged
in advance of the meeting for the resolution. It should be noted
that votes withheld do not constitute votes in law. The number of
ordinary shares in issue at the date of the General Meeting was
202,775,000 and the number of total voting rights was
202,430,000.
Number % %
of Shares of votes cast by of total voting
proxy rights
In favour (including
votes
at the Chairman's
discretion) 133,880,863 100.00 66.14
Against 0 0.00 0.00
Withheld 83,017 - -
In accordance with Listing Rule 9.6.2, a copy of the resolution,
having been passed as a special resolution, will be submitted to
Companies House, as well as the FCA-National Storage Mechanism, and
will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The full text of the Proposals and of the resolution proposed to
shareholders was set out in the Circular to Shareholders published
on 12 March 2020, and is available on the Company's website at:
www.polarcapitalglobalfinancialstrust.com.
Tender Offer
The results of the Tender Offer were as follows:
Number %
of Shares of issued share capital
(excluding treasury shares)
Shares validly tendered 79,159,235 39.10
Under the terms of the Proposals, valid tender requests in
respect of no more than 50 per cent. of the Company's issued share
capital should be received in order for the tender offer to
proceed. Accordingly, those shares validly tendered will be
repurchased by the Company in full at the Tender Price (as defined
in the Circular); and the Company will continue with an indefinite
life for the benefit of those shareholders who elected not to
tender their shares.
Timetable
With regard to completion of the Tender Offer, the Board
announces an amendment to the expected timetable set out in the
Circular.
The Calculation Date for the Tender Price will now be close of
business Wednesday, 22 April (previously expected to be Friday, 24
April) and the associated announcement of the Tender Price is
expected to be on or around Friday, 24 April (previously expected
to be on or around Monday, 27 April).
The dates on the expected timetable otherwise remain as per the
Circular and are as follows:
EXPECTED TIMETABLE
Calculation Date (brought forward to)
close of business on
Wednesday, 22 April
Announcement of the Tender Price (brought forward to)
on or around Friday,
24 April
Repurchase of Shares pursuant to the by Monday, 4 May
Tender Offer
CREST accounts credited in respect of by Tuesday, 12 May
Tender Offer proceeds for uncertificated
Ordinary Shares
Cheques despatched in respect of Tender by Tuesday, 12 May
Offer proceeds for certificated Ordinary
Shares
For further information, please contact:
David Yovichic/Denis Flanagan Robert Kyprianou
Investec Bank Polar Capital Global Financials
Corporate Broker Trust plc
Chairman
(contact via the Company Secretary)
Tel. 020 7597 5473 Tel. 020 7227 2742
Ed Gascoigne-Pees John 'Reg' Regnier-Wilson
Camarco Polar Capital
PR Head of Investment Trust Sales
Tel. 020 3757 4984 Tel. 020 7227 2725
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCSSWFIWESSEEL
(END) Dow Jones Newswires
April 08, 2020 02:00 ET (06:00 GMT)
Polar Capital Global Fin... (LSE:PCFT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Polar Capital Global Fin... (LSE:PCFT)
Historical Stock Chart
From Apr 2023 to Apr 2024