BPET.L Regulatory News (BPET)

15 May 2006 10:57

F&C Private Equity Trust PLC15 May 2006 TO: LONDON STOCK EXCHANGE, COMPANY ANNOUNCMENTS FROM: F&C PRIVATE EQUITY TRUST PLC ("the Company") DATE: 15 MAY 2006 SUBJECT: THIRD CONVERSION OF C SHARES ("Third Conversion") The Company announces that, in respect of the Third Conversion, as at 30 April2006, 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 £14m will be transferred to the 'B' Pool and anumber of 'C' Shares, representing approximately 60% of the 'C' Shares currentlyin issue, will be converted into 'B' Shares at a price per 'B' Share equivalentto the fully diluted Net Asset Value of a 'B' Share at the Calculation Date. Approximately 83% of the 'C' Shares originally issued will then have beenconverted into 'B' Shares as a result of the First, Second and ThirdConversions. It is expected that the Third Conversion Ratio and the approximate number of 'C'Shares to be converted and 'B' Shares to be issued pursuant to the SecondConversion will be announced on 5 June 2006. An expected timetable of keyevents is detailed below. 2006 Calculation Date 30 AprilAnnouncement of Conversion Ratio 5 JuneRecord date close of business on Thursday 8 JuneConversion Date and Admission of new 'B' Shares 8.00 a.m. 9 JuneEx date 8.00 a.m. 9 JuneNotification of new shareholdings despatched to shareholders (as 9 Juneapplicable)CREST holders' accounts credited with new shares* 9 JuneNew share certificates despatched* 16 June * In order to facilitate this third conversion, the balance of 'C' Sharesremaining unconverted will transfer to a new ISIN upon admission of the new 'B'Shares. For further information, please contact: Hamish Mair/Martin Cassels, F&C Asset Management, 0131 465 1000 Alastair Moreton, Arbuthnot Securities Ltd, 0207 7012 2007 Sue Inglis, Intelli Corporate Finance, 0207 653 6300 Note: Words and expressions used in this document have the same meanings givento them in the prospectus relating to the Company dated 15 July 2005 This information is provided by RNS The company news service from the London Stock Exchange