THS Partners - Voluntary winding-up and reconstruction of Electric & General Investment Trust

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Slaughter and May is advising THS Partners, the fund manager of Electric & General Investment Trust plc, on the proposed voluntary winding up pursuant to Section 110 of the Insolvency Act 1986 and reconstruction of Electric & General Investment Trust plc.

On 30th June 2011 the company announced the timetable for a reconstruction which offered shareholders the option of cash or a tax efficient rollover into a newly constituted UK authorised open-ended investment company, E&G Fund, the investments of which will be managed by THS.

E&G Fund has been constituted with voting shares and has an independent Board of directors. THS, the Investment Manager, will invest principally in a portfolio of quoted international equities. E&G shares are not listed on the Official List or admitted to trading on the London Stock Exchange or any other recognised stock exchanges and therefore cannot be traded on any market.

James Cripps (partner), Cécile Airault (visiting lawyer)