Keystone Positive Change (KPC) has announced that shareholders have approved the proposals for the scheme of reconstruction and members’ voluntary winding-up of the company. Implementation of the scheme remains subject to, among other things, shareholder approval at the adjourned second general meeting to be held on 28 March 2025.
The board announces the following elections in connection with the scheme:
Rollover option: 17,925,883 ordinary shares / 30.3 per cent of issued ordinary shares (excluding ordinary shares held in treasury); which will be reclassified as reclassified shares with “A” rights, being the right to receive new BGPC shares in the Baillie Gifford Positive Change Fund; and
Cash option: 41,191,604 ordinary shares / 69.7 per cent of issued ordinary shares (excluding ordinary shares held in treasury); which will be reclassified as reclassified shares with “B” rights, being the right to receive cash.
In accordance with the scheme, eligible shareholders that made no election (and satisfied Baillie Gifford’s KYC checks) have been deemed to have elected for the rollover option. Ordinary shareholders who did not satisfy Baillie Gifford’s KYC checks (including by returning a completed KYC application form where required), have been deemed to have elected for the cash option.
KPC: Keystone Positive Change announces wind up
