84TI Invesco Tok'a'

RNS Number:5190C
INVESCO Tokyo Trust PLC
15 October 2002

                     Announcement of results of Second EGM


INVESCO Tokyo Trust PLC (the "Company" or "ITT")

15 October 2002

Result of EGM

At the Second Extraordinary General Meeting of the Company held today, 15
October 2002, the resolutions put to the meeting were duly approved by
Shareholders. Accordingly, the Company has been placed in members' voluntary
liquidation and Richard Setchim and Ian Oakley Smith have been appointed as
liquidators to the Company.

As announced on 3 October 2002, elections were validly received (or deemed to
have been received) under the Scheme in respect of 112,217,686 Ordinary Shares,
of which 79,505,531 were for the Cash Option, (of which 28,107,300 Ordinary
Shares elected further to re-invest in the Japan Alpha Fund), and 32,712,155
were for the rollover into the Perpetual Japanese Investment Trust Plc ("PJIT").

In accordance with the reconstruction proposals, for every 100 Shares in the
Company, Shareholders will receive approximately 67.567 new ordinary shares in
PJIT or #24.3167 in cash; and any pro rata combination in accordance with their
elections. Accordingly 22,102,302 new PJIT shares of 10p each will be issued.

The proposals were approved at the Extraordinary General Meeting held on 3
October 2002 of PJIT, all the resolutions put to the meeting were passed.
Pursuant to the proposals, each of the existing authorised issued shares of PJIT
were redesignated into one ordinary share of 10p each (a "New PJIT Ordinary
Share") and one deferred share of 40p each. The deferred shares entitle the
holder to only minimal participation in the assets and income of PJIT and the
holders of the New PJIT Ordinary Shares will have substantially the same rights
as those attaching to the PJIT Ordinary Shares. On this basis the Board of PJIT
has been advised that New PJIT Ordinary Shares will trade at the same value as
the PJIT Ordinary Shares of 50 pence each have traded. PJIT has the authority to
buy back the deferred shares for an aggregate price of #0.01.

Shares in the Japan Alpha Fund will be issued at US$10.00 per Japan Alpha Share
to a value of #24.8765 for every 100 INVESCO Tokyo shares so elected.

Warrantholders will receive under the Scheme, in respect of each ITT Warrant
held, approximately 0.67567 new PJIT Warrants to subscribe for one New PJIT
Ordinary Share at a subscription price of 81.3995 pence per PJIT Ordinary Share.
Accordingly 15,135,464 PJIT Warrants will be issued.

It is expected that cheques will be despatched, or CHAPs payments made, to
Ordinary Shareholders in ITT who have elected (or who are deemed to have
elected) for the Cash Option by 23 October 2002. In respect of those ITT
Shareholders who have elected to receive PJIT Ordinary Shares, CREST accounts
will be credited on 16 October 2002. Certificates for New PJIT Ordinary Shares
and PJIT Warrants are expected to be despatched by 23 October 2002. Contract
notes in respect of Japan Alpha Shares are expected to be despatched to ITT
Shareholders who have validly elected for the Reinvestment Option by 23 October
2002.


Enquiries:

Graeme Proudfoot INVESCO Asset Management Limited 020 7626 3434


Angus Gordon Lennox Cazenove & Co. Ltd 020 7825 9880


Terms used in this announcement shall, unless the context otherwise requires,
bear the meanings given to them in the Circular to Shareholders and
Warrantholders of INVESCO Tokyo Trust PLC dated 10 September 2002.


END


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

REGBKPKKABDDBKD

Invesco Tok'a' (LSE:84TI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Invesco Tok'a' (LSE:84TI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024