14 Nov 2005 15:24
F&C Private Equity Trust PLC14 November 2005 TO: LONDON STOCK EXCHANGE, COMPANY ANNOUNCMENTS FROM: F&C PRIVATE EQUITY TRUST PLC ("the Company") DATE: 14 November 2005 SUBJECT: FIRST CONVERSION OF C SHARES ("First Conversion") The Company announces that in respect of the first conversion, as at 31 October2005, in relation to the realisation of the assets of the 'C' Pool as detailedin the Company's Prospectus dated 15 July 2005, it is expected that realisationproceeds totalling approximately £18m will be transferred to the 'B' Pool and anumber of C shares, representing approximately 37% of the C shares currently inissue, will be converted into B shares at a price per B share equivalent to thefully diluted Net Asset Value of a B share at the Calculation Date. It is expected that the First Conversion ratio and the approximate number of Cshares to be converted and B shares to be issued pursuant to the FirstConversion will be announced on 5 December 2005. An expected timetable of keyevents is detailed below. 2005 Calculation Date 31 OctoberAnnouncement of conversion ratio 5 DecemberRecord date close of business on Thursday 8 DecemberConversion Date and Admission of new B shares 8.00 a.m. Friday 9 DecemberEx date 8.00 a.m. Friday 9 DecemberNotification of new shareholdings despatched to shareholders (as Friday 9 Decemberapplicable)CREST holders' accounts credited with new shares* Friday 9 DecemberNew share certificates despatched* by Friday 16 December * In order to facilitate this first conversion, the balance of C sharesremaining unconverted will transfer to a new ISIN upon admission of the new Bshares. For further information, please contact: Hamish Mair/Martin Cassels, F&C Asset Management, 0131 465 1000Alastair Moreton, Arbuthnot Securities Ltd, 0207 7012 2007Gordon Neilly, Intelli Corporate Finance, 0207 653 6300 This information is provided by RNS The company news service from the London Stock Exchange