THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, CANADA, AUSTRALIA, ANY MEMBER STATE OF THE EEA, JAPAN OR SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
9 September 2026
Pacific Assets Trust plc
Legal Entity Identifier: 2138008U8QPGAESFYA48
Results of First General Meeting
In connection with the proposals for the combination of the assets of Pacific Assets Trust plc (the " Company ") with Schroder Asian Total Return Investment Company plc (" ATR "), by means of a scheme of reconstruction and voluntary winding up of the Company under section 110 of the Insolvency Act 1986 (the " Scheme "), the Board is pleased to announce that the Resolutions which were put forward at the First General Meeting held today and voted on a poll have been approved by Shareholders.
The poll results were as follows:
First General Meeting
|
Resolution |
Votes for (including discretionary) |
% |
Votes against |
% |
Total votes cast |
% Issued Share Capital |
Votes withheld |
|
1. To approve the reclassification of the shares in the capital of the Company as shares with "A" rights and shares with "B" rights and to approve changes required to the Company's articles of association. |
64,431,050 |
99.66 |
220,813 |
0.34 |
64,651,863 |
56.58% |
47,430 |
|
2. To approve the Scheme and to further amend the Company's articles of association in order to implement the Scheme. |
64,439,808 |
99.97 |
213,813 |
0.33 |
64,653,621 |
56.58% |
45,672 |
These results will also be published on the Company's website: www.pacific-assets.com
For the purposes of section 341 of the Companies Act 2006, the votes validly cast are expressed in the table above as a percentage of the Company's total voting rights as at 6.30 p.m. on 7 September 2026 (114,262,507), being the time at which a shareholder had to be registered in the Register of Members in order to vote at the First General Meeting . A vote "withheld" is not a vote in law and has not been counted as a vote "for" or "against" a Resolution.
The number of Shares in issue as at the date of this announcement is 114,262,507. There are no Shares held in treasury. Therefore, as at the date of this announcement the number of voting rights in the Company is 114,262,507.
The full text of the Resolutions is set out in the Notice of the First General Meeting contained in the Company's circular to Shareholders dated 11 August 2026 (the " Circular "). The Circular is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at www.pacific-assets.com/transition-documents .
On 10 August 2026 the Board announced that, subject to the passing of the Resolutions proposed at the First General Meeting, a pre-liquidation interim dividend of 3.8 pence per Share would be paid to Shareholders (on the register as at close of business on 28 August 2026) on 18 September 2026. This condition has been satisfied.
The Shares will be disabled for settlement in CREST from 6:00 p.m. on 16 September 2026 and trading will be suspended from 7.30 a.m. on 17 September 2026. Following the reclassification of the Shares on 22 September 2026, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 23 September 2026.
Defined terms used in this announcement have the meanings given in the Circular unless the context otherwise requires.
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For further information please contact: |
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Pacific Assets Trust plc |
via Investec Bank plc |
|
Andrew Impey (Chair) |
|
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Investec Bank plc |
+44 (0) 20 7597 4000 |
|
Helen Goldsmith Tom Skinner |
|
Katherine Manson
Frostrow Capital LLP
Company Secretary
+44 (0) 20 3709 8734
This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Japan, South Africa or any other jurisdiction in which the distribution or release would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this announcement or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, and may not be offered or sold, in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States or in any other jurisdiction. The Company has not been, and will not be, registered under the US Investment Company Act of 1940, as amended (the " US Investment Company Act "), and investors will not be entitled to the benefits of that act. No offer, purchase, sale or transfer of the securities referred to herein may be made except under circumstances which will not result in the Company being required to register as an investment company under the US Investment Company Act.