29th Aug 2007 08:35
Standard Life Euro Pri Eqty Tst PLC29 August 2007 SLEPET Circular - Announcement Standard Life European Private Equity Trust PLC (the "Company") Circular regarding the convening of an extraordinary general meeting of the Company to consider changes to the Company's articles of association Introduction The Company has today issued a circular to its shareholders (the "Circular")giving notice of an extraordinary general meeting of the Company which is to beheld on Monday, 24 September 2007 at 1.00pm at 1 George Street, Edinburgh EH22LL, at which Ordinary Shareholders will be asked to approve certain proposedchanges to the Company's articles of association. In addition, it is atechnical requirement of the Articles that the proposed changes require to beapproved at a separate class meeting of Ordinary Shareholders and at a separateclass meeting of Founder Shareholders. These Class Meetings will be held afterthe EGM at the same venue. Reasons for the proposed changes to the Articles The need to update the Articles at this time arises from a proposedreorganisation by Standard Life Investments ("SLI"), the parent of the Company'smanager, of its private equity investment management business. The SLIReorganisation would involve a new entity being established within the StandardLife Group to manage SLI's private equity investment funds, including theCompany. Your board supports this proposal by SLI, which would not involve anychange in the day-to-day management of your Company and its investments.Further details of the SLI Reorganisation and of the changes which require to bemade to the Articles to facilitate this reorganisation are set out in theCircular. Separately, the new Companies Act 2006 is gradually being brought into forceover the course of this year and next. The Board has decided that it would beappropriate to take advantage of this opportunity to make certain additionalchanges to the Articles in order to bring them into line with those provisionsof the 2006 Act which are now in force. These proposed changes to the Articlesare also explained in the Circular. Costs As the principal reason for updating the Articles at this time is to facilitatethe SLI Reorganisation, the Standard Life Group has agreed to bear the costs ofobtaining shareholder approval to the proposed changes, including the Company'sreasonable advisers' fees. Document Copies of the Circular have been submitted to the UK Listing Authority, and willshortly be available for inspection at the UK Listing Authority's DocumentViewing Facility, which is situated at: Financial Services Authority25 The North ColonnadeCanary WharfLondonE14 5HS Tel: 020 7676 1000 Copies of the Circular will be available at the offices of Standard LifeInvestments, 1 George Square, Edinburgh EH2 2LL until 24 September 2007. Definitions Capitalised words and expressions defined in the Circular have the same meaningsin this announcement. 29 August 2007 Enquiries:Scott Dobbie (Chairman) Tel: 0207 645 0603 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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