FEET Fundsmith Emerging Equities Trust Plc

TIDMFEET

RNS Number : 4628C

Fundsmith Emerging Equities Tst PLC

11 October 2022

11 October 2022

Legal Entity Identifier: 2138003EL6XV8JYU8V55

FUNDSMITH EMERGING EQUITIES TRUST PLC (the "Company")

Publication and posting of Circular proposing the voluntary winding-up of the Company

and

Timetable for suspension and cancellation of the Company's listing and

trading

11 October 2022

Further to the announcement made on 14 September 2022, the Company announces the publication of a circular (the "Circular") and notice of general meeting (the "GM"), which has been posted to Shareholders for the purpose of proposing a vote on the liquidation of the Company (the "Proposals"). The reasons for and background to the Proposals are set out in the Circular. The Circular also contains the timetable for the suspension and cancellation of the Company's listing and trading. The Proposals require the approval of not less than 75 per cent of the votes cast by Shareholders at the GM.

The Circular will be available to download from the Company website ( https://www.feetplc.co.uk/ ) and National Storage Mechanism (https://data.fca.or g.uk/#/nsm/nationalstoragemechanism ) shortly.

The current timetable for the Proposals is as follows:

 
                                                                     2022 
 Publication of the Circular and Forms of Proxy                11 October 
 Date from which it is advised that dealings            close of business 
  in Ordinary Shares should only be for cash                on 9 November 
  settlement and immediate delivery of documents 
  of title 
 Latest time and date for receipt of Forms                12.00 p.m. on 9 
  of Proxy from Shareholders for use at the                      November 
  GM 
 Latest time for delivery to Registrar of documents       5.00 p.m. on 10 
  of title relating to dealings in Ordinary                      November 
  Shares subject to cash settlement 
 Close of the Register and Record Date for                6.00 p.m. on 10 
  participation in the Members' Voluntary Liquidation            November 
 Suspension of Ordinary Shares from trading               7.30 a.m. on 11 
  on the London Stock Exchange and suspension                    November 
  of listing on the Of cial List 
 GM to approve the Proposals and, if approved,           12.00 p.m. on 11 
  the appointment of the Joint Liquidators                       November 
 Announcement of the result of the GM                         11 November 
 Cancellation of the listing of the Ordinary              8.00 a.m. on 14 
  Shares on the Of cial List and cancellation                    November 
  of admission to trading of the Ordinary Shares 
  on the Main Market 
 Expected date for payment of Initial Distribution*        on or about 18 
                                                                 December 
 

* Actual date to be determined by the Joint Liquidators

All references are to London time.

The dates and times set out in the expected timetable above may be adjusted by the Company, in which event details of the new dates and/or times will be noti ed to the FCA and the London Stock Exchange, and an announcement will be made through a Regulatory Information Service.

The Company's shares will be suspended from trading at 7:30 a.m. on 11 November 2022 in advance of the GM. Conditional on the approval of Shareholders at the GM, the Board proposes to appoint Richard Barker and Derek Hyslop of Ernst & Young LLP as the joint liquidators of the Company (together the "Joint Liquidators").

Immediately upon and with effect from the appointment of the Joint Liquidators at the GM, the powers of the Board will cease, the appointment of the Directors will be terminated , and Fundsmith LLP will begin the realisation of the Company's portfolio and conversion of the proceeds into sterling in order that the Joint Liquidators may return capital to shareholders.

The listing of the Ordinary Shares on the Official List and admission to trading of the Ordinary Shares on the Main Market will be cancelled with effect from 8.00 a.m. on 14 November 2022 following which the Company's shares will no longer be tradeable.

No mechanism to enable the Company's shares to be traded following cancellation will be made available to shareholders and the Company's shares will not be transferable once the Company enters liquidation without the consent of the Liquidators.

Capitalised terms used and not otherwise defined in this announcement shall have the same meaning as in the Circular.

 
 Enquiries: 
 Charlotte Balbirnie 
  CBalbirnie@keplercomms.com    +44 (0)7989 528421 
 Mark Pope 
  Frostrow Capital LLP 
  Company Secretary 
  mark.pope@frostrow.com        +44 (0) 203 008 4913 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFFUSMFEESEFS

(END) Dow Jones Newswires

October 11, 2022 02:21 ET (06:21 GMT)

Fundsmith Emerging Equit... (LSE:FEET)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Fundsmith Emerging Equit... (LSE:FEET)
Gráfica de Acción Histórica
De May 2023 a May 2024