On 10 February 2025, the Board of Keystone Positive Change Investment Trust plc announced that it was relaunching the proposed scheme of reconstruction and members` voluntary winding-up of the Company, which had been postponed pending the outcome of the resolutions, put forward on behalf of Saba Capital Management, L.P., to be considered by Shareholders at the requisitioned general meeting on 3 February 2025.
After the resolutions put forward at the Requisitioned General Meeting were defeated on a poll, the Board of the Company has announced that it has published a circular on 19 February 2025 formally reconvening the adjourned Ordinary Shareholders` Class Meeting, First General Meeting and Second General Meeting required to be held to implement the Scheme.
The adjourned Ordinary Shareholders` Class Meeting has been reconvened for 9.00 a.m. on 17 March 2025; the First General Meeting reconvened for 9.15 a.m. on 17 March 2025; and Second General Meeting reconvened for 2.00 p.m. on 28 March 2025 .
In the event that Shareholders do not approve the Scheme proposals and/or any of the other conditions to the Scheme are not satisfied, the Scheme will not be implemented and the Company will be required to hold its annual general meeting by 31 March 2025 in accordance with the Companies Act. However, in the event that the Scheme proposals become effective, the Company will enter into members` voluntary liquidation, the AGM resolutions will not be proposed and the AGM will be adjourned indefinitely.
For details of the scheme, visit https://www.pilling.co.uk/keystone-positive-change-investment-trust-plc-scheme-of-reconstruction/
Corporate Action Administration
Direct Line – 0161-819-4850 | Email: caisa@pilling.co.uk