PVI Private Inv.

    PRIVATE  INVESTORS CAPITAL TRUST PLC (IN MEMBERS' VOLUNTARY LIQUIDATION) ("PICT"
OR THE "COMPANY")

RESULTS  OF  SECOND  EXTRAORDINARY GENERAL MEETING OF THE  COMPANY  RELATING  TO
SCHEME OF RECONSTRUCTION

An  extraordinary general meeting of PICT was held today, at which  resolutions
to  wind  up  the Company voluntarily, to appoint liquidators of  PICT  and  to
approve  certain related administrative matters were passed.  Accordingly,  the
scheme for the reconstruction and liquidation of the Company under section  110
of  the  Insolvency Act 1986 described in the circular to shareholders of  PICT
dated 15 October 2004 (the "Scheme") has now become effective.

The listing of the PICT shares in the Official List of the UK Listing Authority,
and dealings in PICT shares on the London Stock Exchange, were suspended at 7.30
a.m. today.

Under the Scheme:

-    holders of the issued share capital of the Company who have validly elected
  (or  been deemed to elect) to roll over their holding in PICT into units ("MEF
  Units) in CF Stewart Ivory Managed Equity Fund (the "MEF Option") will receive
  for every 100 PICT Shares in respect of which such an election was made 155.97
  MEF Units;

-     holders  of PICT's issued share capital who have validly elected  to  roll
  over  their  holding  in the Company into new shares ("New  PAT  Shares")   in
  Personal Assets Trust plc (the "PAT Option"), will receive for every 100  PICT
  Shares  in  respect  of which such election was made 1.5018  New  PAT  Shares.
  However, fractions of New PAT Shares will not be issued and instead Shareholders
  will  receive a cheque for the value of any fractional entitlement over �3.00;
  and

-     holders  of the issued share capital of the Company who elected  (or  have
  been  deemed  to elect) for an amount in cash equivalent to their  entitlement
  under  the  Scheme (the "Cash Option"), will receive for each  PICT  Share  in
  respect of which such election was made �3.3180.

PICT  Shareholders  who elected for the MEF Option and/or the  PAT  Option  will
receive  written confirmation of the number of MEF Units and/or New  PAT  Shares
respectively,  issued to them. Such confirmations are expected to be  despatched
during  the  course of this week.  Distribution of cash entitlements  under  the
Cash Option are also expected to be despatched this week.

The  special and extraordinary resolutions, passed at the extraordinary general
meeting of PICT held today, have been lodged with the UK Listing Authority.

They  will  shortly be available for viewing through the UK Listing  Authority's
Document  Viewing  Facility at The Financial Services Authority,  25  The  North
Colonnade, Canary Wharf, London E14 5HS.


Enquiries:
Gareth Morris    RSM Robson Rhodes LLP     020 7865 2488

Richard Ramsay   Intelli Corporate Finance Limited     020 7653 6300

Private Inv. (LSE:PVI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Private Inv. (LSE:PVI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024