23rd Nov 2020 16:22
PGIT Securities 2020 Plc - Results of Elections by ZDP ShareholdersPGIT Securities 2020 Plc - Results of Elections by ZDP Shareholders
PR Newswire
London, November 23
23 November 2020
PGIT Securities 2020 plc (the “Company”)
Results of Elections by ZDP Shareholders
On 3 November 2020, PGIT Securities 2020 plc (“PGIT Securities 2020”), a wholly owned subsidiary of Premier Miton Global Renewables Trust plc (previously known as Premier Global Infrastructure Trust plc), published a circular containing details of a scheme of reconstruction of PGIT Securities 2020 (the “Scheme”) and proposals to, inter alia, offer the holders of Existing ZDP Shares in PGIT Securities 2020 the opportunity to elect to roll their investment into New ZDP Shares in PMGR Securities 2025 plc ("PMGR Securities 2025").
The Board of PGIT Securities 2020 announces that valid Elections to participate in the Rollover Option were received in respect of 8,648,877 Existing ZDP shares. Accordingly, as the Maximum Issue Size was not exceeded there will be no scaling back. ZDP Shareholders who have elected for the Rollover Option would therefore receive 1,256 New ZDP Shares for every 1,000 Existing ZDP shares held on the Effective Date.
Additionally, New ZDP Shares are also being made available under the Placing, which closes at 1.00 p.m. on 26 November 2020 and the results of which will be announced on or around 30 November 2020. Shareholders who are considering applying for further New ZDP Shares in the Placing should contact their broker or N+1 Singer.
The Proposals remain conditional on the passing of the Resolutions to be proposed at the Second General Meeting, the FCA agreeing to admit to the standard segment of the Official List the Reclassified Shares and the London Stock Exchange agreeing to admit the Reclassified Shares to trading on its main market, and, subject only to allotment thereof, the New ZDP Shares to be issued pursuant to the Issue also being agreed to be admitted.
Application is expected to be made for the New ZDP Shares to be admitted to the Official List and to trading on the London Stock Exchange and dealings are expected to commence at 8.00 a.m. on 1 December 2020. It is anticipated that CREST accounts will be credited (where applicable) on the same day and the New ZDP Shares will trade using the ticker PGMZ under the ISIN GB00BNG43G36. New share certificates in respect of the New ZDP Shares will be issued as soon as practicable following admission.
Consideration for the Cash Option is expected to be despatched to Existing ZDP Shareholders on or around 1 December 2020.
| Expected timetable of principal events | 2020 |
| Date from which it is advised that dealings in Existing ZDP Shares should only be for cash settlement and immediate delivery of documents of title | 23 November |
| Latest time and date for commitments under the Placing | 1.00 p.m. on 26 November |
| Existing ZDP Shares reclassified, Official List amended and dealings in Reclassified Shares commence on the London Stock Exchange | 8.00 a.m. on 27 November |
| Dealings in Reclassified Shares suspended | 8.00 a.m. on 30 November |
| Second General Meeting and, if the Scheme becomes unconditional, Effective Date for the implementation of the Proposals and commencement of liquidation(i) | 10.00 a.m. on 30 November |
| Publication of the results of the Placing and the Scheme | 30 November |
| New ZDP Shares admitted to Official List, Existing ZDP Shares cancelled and dealings in New ZDP Shares commence on the London Stock Exchange | 8.00 a.m. on 1 December |
| CREST accounts credited with New ZDP Shares (for holders in uncertificated form) | as soon as practicable after 1 December |
| Consideration expected to be despatched to ZDP Shareholders who elect or are deemed to have elected for the Cash Option to CREST participants by the crediting through CREST and to certificated holders by cheque | from 1 December |
| Despatch of New ZDP Share certificates (to holders in certificated form) in the week commencing | 7 December |
All of the times and dates in the expected timetable may be extended or brought forward without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service provider.
All references to time in the Circular are to UK time.
Neither ZDP Shareholders nor Ordinary Shareholders are entitled to attend or vote at the Second General Meeting.Terms used in this announcement shall have the same meaning as in the Circular published on 3 November 2020.
Contact:
Premier Fund Managers Limited01483 306090Claire Long ([email protected])James Smith ([email protected])
N+1 Singer020 7496 3000James Maxwell ([email protected])Iqra Amin ([email protected])
Related Shares:
Premier MitonPGIZ.L