Aurora Investment Trust to merge with Artemis Alpha Trust.

Aurora Investment Trust, a UK investment trust, agreed to merge with Artemis Alpha Trust, an investment trust focusing mainly on UK and selected international equities. The Proposals will be effected by way of a scheme of reconstruction of Artemis Alpha under section 110 of the Insolvency Act 1986, resulting in the voluntary winding up of Artemis Alpha and the transfer of part of Artemis Alpha's cash, assets and undertaking to Aurora on a formula asset value to FAV basis. Under the Scheme, Artemis Alpha Shareholders will be deemed to have elected to receive New Aurora Shares in respect of their holding in Artemis Alpha unless they elect to receive cash in respect of some or all of the Artemis Alpha shares they own.