BPET.L Regulatory News (BPET)

6 Mar 2006 09:33

F&C Private Equity Trust PLC06 March 2006 To: RNS Date: 6 March 2006 F&C Private Equity Trust plc Second Conversion of C Shares The second conversion of 'C' shares into 'B' shares is by reference to 31January 2006. The NAVs per 'B' share and per 'C' share as at that date,calculated for the purpose of conversion in accordance with the articles ofassociation*, were 101.05p and 153.84p respectively. As at 31 January 2006, thenet assets of the 'C' pool, valued for the purpose of conversion, were £32.0million, of which 33.5% was represented by cash assets. Consequently 10.6million 'C' shares will convert to 7.0 million 'B' shares at the secondconversion date. The conversion ratio (being the number of 'B' shares resultingfrom the 'C' shares to be converted) is 0.65686746. The number of 'C' shares to be converted into 'B' shares in each holding of 'C'shares as at 9 March 2006 (the record date for the second conversion) will berounded down to the nearest whole 'C' share. Fractional entitlements to 'B'shares arising on conversion will not be allocated, and will be aggregated andsold in the market for the benefit of the 'B' pool. For illustrative purposesonly, a holder of 1,000 'C' shares as at 9 March 2006 will, immediatelyfollowing the second conversion, hold 219 'B' shares and 665 'C' shares. The second conversion will occur with effect from 10 March 2006. Applications have been made to the Financial Services Authority and to LondonStock Exchange plc for the 'B' shares arising on the second conversion to beadmitted to the Official List and to trading on the main market of London StockExchange plc respectively. It is expected that such admissions will becomeeffective on 10 March 2006. In order to facilitate the conversion, the balance of 'C' shares remainingunconverted will transfer to ISIN GB00B0Z6QN74 and SEDOL B0Z6QN7 upon admissionof the new 'B' shares on 10 March 2006. * The quarterly NAVs value listed investments at their bid prices. The dailyNAV per 'C' share and the NAVs per 'B' share and per 'C' share for the purposeof conversion value listed investments at their mid-market prices. For further information, please contact: Hamish Mair 0131 465 1184 hamish.mair@fandc.com Martin Cassels 0131 465 1095 martin.cassels@fandc.com Alistair Moreton, Arbuthnot Securities Ltd 0207 012 2000 Sue Inglis, Intelli Corporate Finance 0207 653 6300 This information is provided by RNS The company news service from the London Stock Exchange