Business
Offer for AMIC
Offer for AMIC.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n RNS Number : 4713X Greenwich Loan Income Fund Ltd 07 December 2010 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION \n \n6 DECEMBER 2010\n \nRECOMMENDED ACQUISITION OF ASSET MANAGEMENT INVESTMENT COMPANY PLC (\"AMIC\") BY\nGREENWICH LOAN INCOME FUND LIMITED (\"GLIF\")\n \n \nOn 26 October 2010, the boards of GLIF and AMIC announced that they were in discussions with a view to GLIF acquiring the entire issued share capital of AMIC on a recommended basis by way of a scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\"). Under the Scheme, GLIF would be the ongoing company and AMIC would become a wholly-owned subsidiary of GLIF. It is also the intention of the GLIF Board to seek admission of the Enlarged Group to the Official List of the Channel Islands Stock Exchange, LBG (\"CISX\") (the \"Proposed Listing\") alongside its existing AIM quote, upon completion of the Scheme (together the \"Proposals\").\n \nThe boards of GLIF and AMIC today announce that they have agreed the terms of a cash offer (the \"Cash Offer\") with a share alternative (the \"Share Alternative\") under which GLIF will acquire the entire issued and to be issued ordinary share capital of AMIC at a price which represents an 8 per cent. discount to AMIC's formula asset value to be calculated on the Calculation Date, further details of which are set out below (the \"Acquisition\"). The Acquisition is subject, amongst other things, to the approval of both companies' shareholders and to Court approval.\n \nA document equivalent to a prospectus for the purposes of the Prospectus Rules relating to the issue of New GLIF Shares and a circular in relation to the GLIF Extraordinary General Meeting required to approve, amongst other things, the Acquisition, are expected to be posted to GLIF Shareholders on or around 16 December 2010. A circular in relation to the Court Meeting and the AMIC General Meeting required to be held in order to implement the Acquisition, together with the prospectus equivalent document described above, are also expected to be posted to AMIC Shareholders on or around the 16 December 2010. \n \nThe AMIC Directors...