JPMorgan Global Growth & Income to combine with SCIN

[richfool]

Does anyone know when SCIN is going to be assimilated into JGGI? I had understood it would be towards the end of the first quarter of 2022, but the 31st March has long gone, and we are almost into May. I note SCIN went ex dividend 14th April and pays the dividend on 13th May.

I had bought into SCIN in the hope that I could ride that up before my holding would be switched into a top up (of my holding) of JGGI.

I am not complaining as SCIN's performance has been quite good since I bought in, presumably in part thanks to its holdings of gold miners, value stocks and energy stocks, including Exxon and Shell. Also JGGI has fallen back a bit presumably because of its holdings of growth/technology stocks. So the timing is looking promising.

[bonrepos]

I have read that they now hope the transition will be complete towards the end of the 2nd quarter of 2022.

I think the hold up was due to complications with winding up the SCIN trust loans.

[Dod101]

The SCIN portfolio was realligned with that of JGGI in February so there should now be no difference between JGGI's and that of SCIN. SCIN is not of course going to be assimilated into JGGI. The assets are going to be transferred to JGGI and then SCIN will be would be wound up but they were sorting out pension matters and I think the sale of their office in Edinburgh before that can happen.

Dod

[richfool]

Does anyone know anything further on the SCIN being taken over by JGGI? I hold shares in SCIN (as well as JGGI), and understood that the SCIN shares would become JGGI shares by or at the end of June. So far, no sign of any changes to either holding, in my ISA.

[77ss]

Does anyone know anything further on the SCIN being taken over by JGGI? I hold shares in SCIN (as well as JGGI), and understood that the SCIN shares would become JGGI shares by or at the end of June. So far, no sign of any changes to either holding, in my ISA.

https://www.investegate.co.uk/jpmorgan- ... 42388888Q/

[richfool]

Does anyone know anything further on the SCIN being taken over by JGGI? I hold shares in SCIN (as well as JGGI), and understood that the SCIN shares would become JGGI shares by or at the end of June. So far, no sign of any changes to either holding, in my ISA.

https://www.investegate.co.uk/jpmorgan- ... 42388888Q/

Thank you 77, and so it drags on...

[richfool]

Some updates and developments on the combining of SCIN with JGGI, here:

viewtopic.php?p=520191#p520191

Scot.Inv.Trust PLC
Pre-liquidation Interim Dividend Declaration
RNS Number : 1467V
Scottish Investment Trust PLC
05 August 2022

The Directors of The Scottish Investment Trust PLC have today announced a pre-liquidation interim dividend of 9.4 pence per share. Subject to the Resolution to be proposed at the forthcoming First General Meeting on 22 August 2022 being passed, the dividend will be paid on 30 August 2022 to shareholders on the register on 19 August 2022. The ex-dividend date is 18 August 2022.

This dividend will be in addition to the first interim dividend for the year to 31 October 2022 of 6.1 pence per share (paid on 13 May 2022) and the second interim dividend for the year to 31 October 2022 of 6.1 pence per share (paid on 15 July 2022).

https://www.investegate.co.uk/scot.inv. ... 52571467V/

A healthy final dividend!

Also, publication of Circular regarding the combination of the assets of SCIN with JGGI:

Further to the announcement of 29 March 2022 by the Board of The Scottish Investment Trust PLC ("SIT" or the "Company") with regard to the proposed combination of the assets of the Company with JPMorgan Global Growth & Income plc ("JGGI") by means of a scheme of reconstruction (the "Scheme") and voluntary winding up of the Company pursuant to section 110 of the Insolvency Act 1986 (the "Proposals"), the Board is pleased to announced that the Company has today published a circular to the Company's shareholders ("Shareholders") in connection with the Proposals (the "Circular").

Full Details: https://www.investegate.co.uk/scot.inv. ... 25371440V/

These seem to have perked up the share price of SCIN.

[richfool]

For those holding SCIN (SIT), details of the FAV's upon which the transfer of shares will be calculated

Scheme Entitlements and Secured Bond Substitution
RNS Number : 8125X
Scottish Investment Trust PLC
31 August 2022

THE SCOTTISH INVESTMENT TRUST PLC (the "Company"
Scheme Entitlements and Secured Bond Substitution
Scheme Entitlements
Following the passing of the special resolutions put forward at the Company's First General Meeting and Second General Meeting, the Board of the Company is pleased to announce that as at the Calculation Date and as calculated in accordance with the terms of the Scheme as set out in the circular published by the Company dated 5 August 2022 (the "Circular"):

• the SIT FAV per Share is 9.283098 pence;

• the JGGI FAV per Share is 4.586955 pence; and

• the resultant conversion ratio is 2.023804 New JGGI Shares for each SIT Share.

Accordingly, each SIT Share will roll over into approximately two New JGGI Shares.

Applications have been made by JPMorgan Global Growth & Income plc for the New JGGI Shares to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange (together, "Admission"). It is expected that Admission will take place at 8.00am on 1 September 2022.

https://www.investegate.co.uk/scot.inv. ... 35038125X/

[Dod101]

RIP Scottish Investment Trust. I am sorry to see it go because it was one of the few independently managed investment trusts left. That model seem to have gone by the wayside except for a very few trusts such as Caledonia.

Dod