Shareholders of GT Japan have approved the reconstruction and liquidation of the trust while shareho...
Shareholders of GT Japan have approved the reconstruction and liquidation of the trust while shareholders of the Perpetual Japanese Investment Trust have agreed to their participation in the trust as a roll-over vehicle option.
At the 29 October EGM, GT Japan shareholders were given various options. They could elect for new ordinary shares in the Perpetual Japanese Investment Trust, accumulate units in the Invesco Perpetual Japan Fund, and/or take cash by electing for units in the Japan Fund and make a further election under the scheme for those units to be redeemed.
The scheme will not become effective until a special resolution is passed placing GT Japan members in voluntary liquidation.
A second EGM of GT Japan is due to be held on Friday, 9 November 2001, at which such a resolution will be proposed. The deadline for elections was 3pm on 1 November, with the default option being to roll-over into Perpetual Japanese IT.
The board of GT Japan announced the reconstruction plans following the change in management of the trust in July 2001. At an EGM held on 16 July, shareholders backed Invesco to take over the trust's management.
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Report to be written by TPR
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