Henderson European Trust shareholders approve liquidation

LONDON - Henderson European Trust PLC (LSE:HET) shareholders have approved the company’s voluntary winding-up and combination with Fidelity European Trust PLC (LSE:FEV) at a special general meeting held on Friday.

According to a company statement, the special resolution to place Henderson European Trust into members’ voluntary liquidation was approved by 99.66% of votes cast. Gareth Rutt Morris and Jonathan Dunn of FRP Advisory Trading Limited have been appointed as joint liquidators.

Following the approval, trading of Henderson European Trust’s reclassified shares was suspended from the Official List of the Financial Conduct Authority and from the London Stock Exchange as of Friday morning.

Under the scheme terms, shareholders who elected for the rollover option will receive 0.510196 new Fidelity European Trust shares for each reclassified Henderson European Trust share with "A" rights. Those who chose the cash option will receive 205.264694 pence in cash for each reclassified share with "B" rights.

The company statement noted that fractional entitlements to new Fidelity European Trust shares will not be issued and will be rounded down to the nearest whole number. No cash payments will be made for fractional entitlements, which will be retained for the benefit of Fidelity European Trust.

Shareholders will receive their new Fidelity European Trust shares via CREST on September 29 for those holding shares electronically, while certificated shareholders will receive them within 14 calendar days of the effective date.

The liquidators have set aside sufficient assets in a liquidation pool to meet all estimated current and future liabilities of the company, including winding-up costs.

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