8th Oct 2018 16:14
LONDON (Alliance News) - Dunedin Smaller Companies Investment Trust PLC said Monday that 99% of its shareholders approved a special resolution to put the company into voluntary liquidation.
Earlier on Monday, Dunedin shares were temporarily suspended from trading on the London Stock Exchange on Monday as shareholders were due to vote on whether or not to allow its merger with Standard Life UK Smaller Companies Trust PLC.
The merger was proposed in June after Dunedin had found it "challenging to attract new investors." What is more, after the parent firms of the two companies merged to form Aberdeen Standard Life PLC it had resulted in the two firms being managed alongside one another with "very similar UK smaller companies mandate".
In late September, the proposed deal passed its initial vote at both firms.
Dunedin's liquidators applied to the UK Listing Authority for the cancellation of the company's shares which is expected during the week commencing October 15.
Furthermore, Standard Life UK Smaller Companies Trust said it appointed Alexa Henderson as an independent non-executive director with immediate effect, following the successful completion of the merger with Dunedin.