Manchester & London Gets 90.93% Acceptances For SMIT Shares

9th Jun 2010 17:59

LONDON (Dow Jones)--Manchester & London Investment Trust PLC (MNL.LN) said Wednesday that as at 1200 GMT, it had received valid acceptances of the Offer in respect of 5,208,218 Stakeholders' Momentum Investment Trust PLC (DDIT.LN) or SMIT shares representing 90.93% of the current issued share capital of SMIT, and said the Offer will close at 1200 GMT on June 16, and may or may not be extended. MAIN FACTS: -A compulsory acquisition can only occur if MNL receives acceptances in respect of 94.1% of the SMIT Shares in issue and MNL remains 181,460 shares short of this amount. -If a compulsory acquisition does not occur then SMIT Shareholders will remain shareholders in SMIT unless they accept the Offer. Manchester & London shares closed Wednesday at 306 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; [email protected] (END) Dow Jones Newswires June 09, 2010 12:59 ET (16:59 GMT)