Merger Completion
June 13 2012 - 8:03AM
UK Regulatory
TIDMBPW
BLUE PLANET WORLDWIDE FINANCIALS INVESTMENT TRUST PLC
Merger Completion
13 June 2012
This announcement is made by Blue Planet Worldwide Financials Investment Trust
plc ("the Company") in connection with the proposed merger of the Company with
Blue Planet International Financials Investment Trust plc ("International") and
Blue Planet Financials Growth & Income Investment Trusts Nos (1- 10) plc ("G&
I") to be completed pursuant to schemes of reconstruction under Section 110 of
the Insolvency Act 1986 ("Schemes"), details of which were contained in the
Company's circular to shareholders ("the Circular") dated 26 March 2012.
As the board of the Company advised shareholders on 18 May 2012, completion of
the merger was subject to the passing of a resolution by International
shareholders to restructure its share capital, whereby each of its 50p ordinary
shares would be split into a 1p ordinary share and a 49p deferred share. The
board of directors of the Company are pleased to announce that such resolution
was duly passed earlier today and the merger has, therefore, now completed.
Accordingly, by way of implementation of the Schemes, the assets and
liabilities of the Company have been transferred to International in
consideration for the issue of new ordinary shares of 1 pence each in the
capital of International ("New International Shares"). The total number of New
International Shares issued to the Company's shareholders was 18,022,743 at a
deemed issue price of 31.976 pence per share (on a ratio of 1.28915116 for
every ordinary share held in the Company).
Application will shortly be made for all the New International Shares issued
pursuant to the Schemes to be admitted to the Official List and to trading on
the main market of the London Stock Exchange. It is expected that admission
will become effective and that trading will commence on 14 June 2012. CREST
accounts are also expected to be credited on 14 June 2012.
As part of the Schemes, the suspension of the listing of the Company's shares
took place at 7.30am on 27 April 2012 and the cancellation of the listing of
the Company's shares is expected to take place on 20 June 2012.
For further enquiries please contact:
Blue Planet Investment Advisers Ltd
Company Secretary
Telephone: 0131 466 6666
Email: info@bpia.eu
END
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