Business
Proposed offer for AMIC
Proposed offer for AMIC.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n RNS Number : 9824U Greenwich Loan Income Fund Ltd 26 October 2010 \n \n\n \n This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the City Code. GLIF and AMIC would like to emphasise that there can be no certainty that the Proposed Acquisition will be forthcoming and no certainty as to whether any offer will be made on the terms described. A further announcement will be made in due course as appropriate.\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 \n26 OCTOBER 2010\n \nRECOMMENDED ACQUISITION OF ASSET MANAGEMENT INVESTMENT COMPANY PLC (\"AMIC\") BY\nGREENWICH LOAN INCOME FUND LIMITED (\"GLIF\")\n \nThe Boards of GLIF and AMIC announce that they are in discussions with a view to GLIF acquiring the entire issued share capital of AMIC (the \"Proposed Acquisition\") on a recommended basis by way of a scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\"). The Scheme would be subject to the approval of both companies' shareholders, Court approval and certain other conditions and further terms set out below. The aim would be to complete the Proposed Acquisition before the end of January 2011. 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 GLIF 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. GLIF is making this announcement with the approval of the Board of AMIC. There can be no certainty that an offer will be made for AMIC.\n \nThe Board of GLIF believes that the Proposed Acquisition would provide an opportunity to create a larger closed-ended investment company with a stable and predictable dividend yield, and with long term preservation of net asset value. T2 Advisers LLC (the \"Manager\") would be the manager of the Enlarged GLIF Group.\n \nAs part of the Scheme, if made, a full cash offer would be provided for shareholders in AMIC for...