[2008-02-15]  National Investment Trust Ltd-Approval of final terms of the restructuring plan
Further to the Cautionary Announcement issued on 23 January 2008, the Board of Directors has approved the final terms of the restructuring plan which entails both a dividend in specie and, a reduction in the share capital of the Company.
Taking the market value of the Company’s portfolio of assets at 31 January 2008, each shareholder of the Company will receive the following in exchange for one current ordinary share held:
25 units in the Local Equity Fund (with a launch value of Rs 1.00 each);
12 units in the Global Opportunities Fund (with a launch value of Rs 1.00 each);
0.3 share in ‘new’ NIT (the indicative price of the new NIT shares on re-introduction, i.e., on 24th March 2008, will be Rs 10.00 per share).
Full details of the above transaction are given in the accompanying Pro Forma Financial Statements.
All shareholders and the public are therefore advised to exercise caution in dealing with their shares on the Stock Exchange.
By Order of the Board
Soundararajen Ramsamy
Company Secretary
15 February 2008
This Communiqué is issued pursuant to Listing Rule 11.3.
The Board of Directors of the National Investment Trust Ltd accepts full responsibility for the accuracy of the information contained in this communiqué
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