Abaco Capital plc


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Result of AGM &
Notice of Cancellation of Admission of Shares to trading on AIM

8 May 2018

Abaco Capital plc (AIM: ABA), today announces that at the Company's Annual General Meeting ("AGM") held earlier today, all resolutions were duly passed. This includes the resolutions required for the cancellation of admission of its Shares to trading on AIM (the "Delisting") and to place the Company into a Members' Voluntary Liquidation as announced on 6 April 2018.

Accordingly admission of the Company's ordinary shares ("Shares") to trading on AIM will be cancelled with effect from 7.00 a.m. on 9 May 2018.  As detailed in the Circular sent to Shareholders on 6 April 2018, trading in the Company's shares on AIM was suspended with effect from 7.30 a.m. today.

Following the AGM, the appointment of Keith Marshall and James Miller of RSM as joint liquidators to the Company ("Joint Liquidators") is now effective. The Joint Liquidators will be responsible for the winding-up of the Company and the distribution of the remaining funds to Shareholders. It had been anticipated that an interim distribution of circa £18.0 million would be made by 30 June 2018. The interim distribution was dependent upon receipt of deeds of indemnity from Major Shareholders. These deeds of indemnity have not been obtained prior to today's date and as such the interim distribution will not occur. Upon the completion of the winding-up process and the payment of expenses incurred in the winding-up process, the Joint Liquidators will then distribute all remaining assets to Shareholders. The total amount expected to be available to distribute to Shareholders is circa £19.0 million and the distribution is expected to occur in three to six months time.

Following the Delisting, N+1 Singer will cease to be the nominated adviser and broker to the Company. Although the Shares will remain transferable (with the Joint Liquidators' sanction) following the Delisting, the Shares will no longer be quoted or tradable on AIM. The CREST facility will be cancelled and arrangements will be made to send share certificates to those Shareholders currently using CREST.

Definitions in this announcement are the same as those included in the Circular.