Result of General Meeting & Final Interim Dividend

RNS Number : 1023H

Edinburgh New Income Trust plc

23 May 2011

 



EDINBURGH NEW INCOME TRUST PLC

RESULT OF GENERAL MEETING HELD ON 23 MAY 2011

General Meeting

Further to the proposals for the reconstruction and winding up of the Company which were announced on 28 April 2011, at a general meeting of the Company's shareholders held today, the special resolution approving the Proposals was passed.  A copy of this resolution will shortly be available for inspection via the National Storage Mechanism, which is located at http://www.hemscott.com/nsm.do.

The Scheme remains conditional on the passing of the special resolution to be proposed at the general meeting of the Company's shareholders convened for 31 May 2011.  The Scheme will not become effective unless the resolution is passed.

Final Interim Dividend

In accordance with the articles of association, the Board has today resolved to pay a final interim dividend of 1.0p to Ordinary Shareholders (including Unitholders in respect of Ordinary Shares comprised in their Units).  This Final Interim Dividend will be paid on 27 May 2011 to Ordinary Shareholders on the register of members on 20 May 2011, with an ex-dividend date of 18 May 2011. 

In accordance with the terms of the Scheme, the Final Interim Dividend will include an amount (expected to be approximately 0.26p per Ordinary Share) which relates to dividends due to the Company but which will not be received by the Company by the Effective Date of 31 May 2011.  In order to fund the payment of that element of the Final Interim Dividend, the TAV attributable to an Ordinary Share will be reduced by an equal amount. Once received by the Company, an amount equal to those dividends will be available for distribution to all Ordinary Shareholders (pro rata according to their holdings of Ordinary Shares) as capital distributions from the Liquidation Retention Fund. 

Enquiries:

Valerie MacKenzie	Aberdeen Asset Managers Limited	Tel: [phone]
Robin Archibald	Winterflood Investment Trusts	Tel: [phone]
Robert Peel	Winterflood Investment Trusts	Tel: [phone]

Capitalised terms shall bear the meanings given to them in the Company's Circular dated 28 April 2011 unless the context otherwise requires.

 

END

 

 

RAGAJMJTMBMTBMB