Proposed Merger
22 Diciembre 2011 - 3:49AM
UK Regulatory
TIDMBPFA
Possible merger of the Blue Planet Investment Trusts pursuant to a Scheme of
Reconstruction
Blue Planet Financials Growth & Income Investment Trusts No 1-10 plc (LSE: BPFU);
Blue Planet International Financials Investment Trust plc (LSE: BLP); and
Blue Planet Worldwide Financials Investment Trust plc (LSE: BPW)
(Collectively the "Blue Planet Investment Trusts")
The Boards of the Blue Planet Investment Trusts announce that they are
currently evaluating the possible merger of all twelve investment trusts to
create a single, larger investment trust. It is believed that such a merger
should be to the benefit of all shareholders through:
* the anticipated reduction in operating expenses;
* an expected lower total expense ratio than the existing investment trusts;
* the potential to enhance future investment returns;
* the raising of the profile of the combined company in the market; and
* the potential increase in liquidity of its shares making it easier for
investors to deal in them.
The intention is that this proposed merger will be completed pursuant to a
scheme of reconstruction under s. 110 of the Insolvency Act 1986 by
transferring the assets and liabilities of the Blue Planet Worldwide Financials
Investment Trust plc and Blue Planet Financials Growth & Income Investment
Trusts No. (1-10) plc to Blue Planet International Financials Investment Trust
plc in consideration for new Blue Planet International Financials Investment
Trust plc shares to be issued to Blue Planet Worldwide Financials Investment
Trust plc and Blue Planet Financials Growth & Income Investment Trusts No.
(1-10) plc shareholders on a relative net asset value basis.
A merger on this basis will be outside the provisions of The City Code on
Takeovers and Mergers.
Formal proposals will be provided to shareholders of Blue Planet International
Financials Investment Trust plc, Blue Planet Worldwide Financials Investment
Trust plc and Blue Planet Financials Growth & Income Investment Trusts No.
(1-10) plc, at which point, a further announcement will be made.
The above announcement applies equally to each of the following ten Trusts
Company Name ISIN SEDOL PIC Code
Blue Planet Financials Growth & Income
Investment Trust No.1 plc GB00B19PPL85 B19PPL8 GB BPFA LN
Blue Planet Financials Growth & Income
Investment Trust No.2 plc GB00B19PPN00 B19PPN0 GB BPFC LN
Blue Planet Financials Growth & Income
Investment Trust No.3 plc GB00B19PPP24 B19PPP2 GB BPFE LN
Blue Planet Financials Growth & Income
Investment Trust No.4 plc GB00B19PPQ31 B19PPQ3 GB BPFG LN
Blue Planet Financials Growth & Income
Investment Trust No.5 plc GB00B19PPT61 B19PPT6 GB BPFI LN
Blue Planet Financials Growth & Income
Investment Trust No.6 plc GB00B19PPV83 B19PPV8 GB BPFK LN
Blue Planet Financials Growth & Income
Investment Trust No.7 plc GB00B19PPW90 B19PPW9 GB BPFM LN
Blue Planet Financials Growth & Income
Investment Trust No.8 plc GB00B19PPX08 B19PPX0 GB BPFO LN
Blue Planet Financials Growth & Income
Investment Trust No.9 plc GB00B19PQ150 B19PQ15 GB BPFQ LN
Blue Planet Financials Growth & Income
Investment Trust No.10 plc GB00B19PQG08 B19PQG0 GB BPFS LN
For more information, please visit www.blueplanet.eu
You can also contact the Company on 0845 527 7588 or by emailing
info@blueplanet.eu
END
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