The Board of Sanditon Investment Trust (the Company) have
received indications from certain significant shareholders that
they intend to vote against the continuation vote to be proposed by
the Company at its AGM to be held in 2020. In light of this
shareholder feedback, and following consultation with the Company’s
Investment Manager, Sanditon Asset Management (SAM), the Board has
decided that it is in all shareholders’ interests to propose a
members’ voluntary liquidation of the Company at this year’s
AGM.
The Board expects to announce Sanditon Investment Trust’s annual
results before the 31st October with the Annual Report and Accounts
and Notice of AGM to be posted to shareholders on or before
5 November 2019. At the same time,
the Company will publish and post a circular to shareholders
convening a general meeting, to be held immediately after the
Company’s AGM, at which a special resolution will be proposed to
place the Company into members’ voluntary liquidation.
The Board will recommend that shareholders vote in favour of the
members’ voluntary liquidation proposals and will vote their shares
(736,818 - 1.47%) in favour of the resolution. The Board has also
received indications from SAM that the five directors of SAM will
also vote their shares (10,995,722 - 21.99%) in favour of the
resolution.
This announcement contains inside information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
Enquiries:
Rupert P A Tyer
Chief Executive Officer
Sanditon Asset Management
Tel: 020 3595 2901
Email: rtyer@sanditonam.com