Last checked at 6 Sep 2018 07:00
Baillie Gifford UK Growth Fund plc
Legal Entity Identifier: 549300XX386SYWX8XW22
6 September 2018
Update re. Schroder ISA Shareholders
Further to the announcement made by the Board of Baillie Gifford UK Growth Fund plc (the "Company") on 29 June 2018, the Board has been notified by Schroder Unit Trusts Limited ("Schroders") that it has written to those shareholders in the Company who hold their shares through ISAs provided by Schroders (the "Schroders ISA Shareholders") outlining the options available to them. The Schroders ISA Shareholders currently represent circa 23% of the Company's shares.
Schroders ISA Shareholders wishing to continue their investment in the Company will be able to do so by transferring their holdings in the Company to a new ISA plan manager. Those Schroders ISA Shareholders who do not wish to transfer their holdings in the Company to a new ISA plan manager will have the options of either switching their shareholding in the Company to another Schroders fund within their ISA or selling their holding in the Company.
Those Schroders ISA Shareholders who take no action by 12pm on 6 December 2018 will have their holding in the Company sold and switched to an ISA holding in the Schroder UK Equity Fund, an open-ended fund managed by Schroders.
The aforementioned options mean that should existing investors through Schroders wish to maintain their holding in the Baillie Gifford UK Growth Fund plc, the only option to do so is to actively transfer their holding to a new ISA plan manager. Doing nothing will result in all your shares in the Company being sold.
Further details in relation to the options available to Schroders ISA Shareholders are contained in the letter from Schroders which is also available to Schroders ISA Shareholders at https://www.schroders.com/en/uk/private-investor/fund-centre/changes-to-funds/ or telephone 0800 718 777.
Further details on how the Company is now being managed by Baillie Gifford can be found at
www.bgukgrowthfund.com
As previously announced, the Board and its advisers will seek to work with Schroders to try to ensure that any sale by it of shares in the Company is conducted in an orderly manner.
Contacts:
Anzelm Cydzik/James Budden
0131 275 2000
Baillie Gifford & Co
Roland Cross
0203 697 4200
Four Broadgate
Joe Winkley/Neil Morgan
020 3100 0000
Winterflood Securities Limited - Corporate broker and financial adviser
Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the European Union