The Boards of Witan Investment Trust Plc (WTAN) and Alliance Trust Plc (ATST) have announced that they have agreed heads of terms in respect of a proposed combination of WTAN and ATST to form Alliance Witan Plc. The combination is to be effected by way of a Scheme of Reconstruction and members’ voluntary winding up of the Company
The proposals are subject to shareholder approval at two General Meetings, to be held on 30th September 2024 and 9th October 2024.
You have the following options with regards to your holding:
- Elect to receive shares in Alliance Witan Plc (the Rollover Option).
And / or
- Elect to receive cash upon the winding-up of the Company at the NAV per share as at 3rd October 2024, less a discount of 2.5 per cent (the Cash Option). Please note that the cash option is subject to an aggregate limit of 17.5% of WTAN’s share capital, and as such elections may be scaled back.
If you do not make an election you will be deemed to have elected for the Rollover Option in respect of your entire holding.
For more information about the Scheme, visit https://www.witan.com/about-witan/alliance-transaction
Please advise the Corporate Action Department only if you wish to make a Cash Election no later 24th September 2024. You may contact us either by letter, telephone or email as detailed below quoting ‘Witan’ in the subject box.
Corporate Action Administration
Direct Line – 0161-819-4850 | Email: caisa@pilling.co.uk