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19 May 2020
City Merchants High Yield Trust Limited
Results of General Meeting
The Board of City Merchants High Yield Trust Limited (the “Company”) is pleased to announce that all resolutions proposed to shareholders at the General Meeting today in connection with the proposed merger with Invesco Enhanced Income Limited (“IPE”), to be effected by way of a shareholder approved contractual scheme of reconstruction by IPE and a transfer of assets to CMHY (the “Scheme”), were duly passed.
Details of the proxy votes cast on the resolutions are included at the end of this announcement.
The Scheme remains conditional, amongst other things, upon:
the passing of the resolutions at the IPE General Meeting and any conditions of such resolutions being fulfilled;
the approval of the FCA and the London Stock Exchange to the Admission of the New Shares to the Official List and to trading on the main market of the London Stock Exchange, respectively;
the novation of the Repo Contracts and FX Forwards to the Company with effect from the Effective Date; and
the Board of IPE resolving to proceed with the Scheme.
Admission and Dealing in the New Shares to be issued in connection with the Scheme is expected to commence on 20 May 2021.
Subject to completion of the Scheme, the Company intends to apply to change its name from City Merchants High Yield Trust Limited to Invesco Bond Income Plus Limited at which time the trading symbol (TIDM) for the Company will change to BIPS. A further announcement will be made once the change in the Company’s name has been certified by the Companies Registry in Jersey.
Terms used and not defined in this announcement have the meanings given in the circular of the Company dated 22 April 2021 unless the context otherwise requires.
JTC Fund Solutions (Jersey) Limited
+44 (0) 15 3470 0000
Invesco Asset Management Limited
+44 (0) 20 3753 1000
Winterflood Securities Limited
+44 (0) 20 3100 0000
The proxy votes cast on the resolutions are set out below:
Allot up to 100,000,000 ordinary shares of no par value in the capital of the Company to shareholders of IPE in connection with the contractual scheme of reconstruction and winding up of IPE.
The name of the Company be changed to Invesco Bond Income Plus Limited.
The Articles of Association be amended.
*The votes "For" include those votes giving the Chairman and Third parties discretion.
Legal Entity Identifier: 549300JLX6ELWUZXCX14