PGIT Secs 2020 Plc Results of Elections by ZDP Shareholders
November 23 2020 - 11:22AM
UK Regulatory
TIDMPGIZ TIDMPMGR
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 23 November
dealings in Existing ZDP Shares should
only be for cash settlement and immediate
delivery of documents of title
Latest time and date for commitments 1.00 p.m. on 26 November
under the Placing
Existing ZDP Shares reclassified, 8.00 a.m. on 27 November
Official List amended and dealings in
Reclassified Shares commence on the
London Stock Exchange
Dealings in Reclassified Shares suspended 8.00 a.m. on 30 November
Second General Meeting and, if the Scheme 10.00 a.m. on 30 November
becomes unconditional, Effective Date for
the implementation of the Proposals and
commencement of liquidation(i)
Publication of the results of the Placing 30 November
and the Scheme
New ZDP Shares admitted to Official List, 8.00 a.m. on 1 December
Existing ZDP Shares cancelled and
dealings in New ZDP Shares commence on
the London Stock Exchange
CREST accounts credited with New ZDP as soon as practicable after
Shares (for holders in uncertificated 1 December
form)
Consideration expected to be despatched from 1 December
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
Despatch of New ZDP Share certificates 7 December
(to holders in certificated form) in the
week commencing
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.
i. 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 Limited
01483 306090
Claire Long (claire.long@premiermiton.com)
James Smith (james.smith@premiermiton.com)
N+1 Singer
020 7496 3000
James Maxwell (james.maxwell@n1singer.com)
Iqra Amin (iqra.amin@n1singer.com)
END
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