Aberforth Split Level Income Trust plc

Information following wind-up

Information and key documents about the wind-up as well as contact details

Table of Contents

A planned wind up

Following the approval of the special resolution to place Aberforth Split Level Income Trust plc (the ‘Company’) into members’ voluntary liquidation by shareholders at the general meeting held on 28 June 2024, Derek Hyslop and Richard Barker both of Ernst & Young LLP of 1 More London Place, London, SE1 2AF have been appointed as joint liquidators of the Company. The Liquidators will be responsible for the winding up of the Company and distributing the assets in accordance with the scheme of reconstruction.

Shareholders who were deemed to have elected for new shares in Aberforth Geared Value & Income Trust plc (the Rollover Options) that held their Ordinary or Zero Dividend Preference Shares in uncertificated form will receive their new Aberforth Geared Value & Income Trust plc (AGVIT) shares via CREST on 1 July 2024 (or as soon as reasonably practicable thereafter). Shareholders who were deemed to have elected for the Rollover Options that held their shares in certificated form will receive their new AGVIT shares in certificated form, and such share certificates will be despatched as soon as practicable after 28 June 2024.

Shareholders who elected, or were deemed to have elected, for the Cash Option will have their cash entitlements despatched around 12 July 2024 via CREST and/or cheque.

Following the appointment of the Liquidators, all further enquiries regarding the Company should be made to the Liquidators, whose contact details are below in the who to contact section.

Ordinary Shareholders’ entitlements under the Proposals are based on the Formula Asset Value (FAV) per Ordinary Share, which is the net asset value of the Company attributable to the Ordinary Shares as at the calculation date. At the calculation date of 21 June 2024 the FAV was 84.84 pence.

Under the Proposals, ZDP Shareholders received an amount equal to the Terminal Asset Value (TAV) per ZDP share. The TAV per ZDP Share 127.25 pence at the calculation date of 21 June 2024.

The results of the election process and the offer and placing can be found in the RNS announcement below. At launch, the new company AGVIT is geared to a ratio of 8 Ordinary shares to 3 ZDP shares. All external shareholder elections, applicants via the Offer for Subscription, and Placing were satisfied in full.

Who to contact

Shareholder queries

Shareholders who have any queries on the allocation of new AGVIT shares should contact the Corporate Action line at Link Group on +44 (0)371 664 0321.

For all general shareholder queries please contact Link Group on +44 (0)371 664 0300.

Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. The helplines are open between 9.00 a.m. to 5.30 p.m., Monday to Friday excluding public holidays in England and Wales. Please note that Link Group cannot provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes.

Liquidation queries

All queries relating to the Company (Aberforth Split Level Income Trust plc) please contact either Derek Hyslop or Richard Barker both of Ernst & Young on +44 (0)131 777 2300.

Other queries

For queries not related to shareholdings, voting or election forms please get in touch with us.

Announcements & Important documentation