BPET.L Regulatory News (BPET)

19 Sep 2006 14:35

F&C Private Equity Trust PLC19 September 2006 To: RNSDate: 19 September 2006 F&C Private Equity Trust plcFinal Conversion of C Shares The fourth and final conversion of 'C' shares into 'B' shares is by reference to31 July 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 166.36p and 96.13p respectively. As at 31July 2006, the netassets of the 'C' pool, valued for the purpose of conversion, were £8.1 million.Consequently 8.5 million 'C' shares will convert to 4.9 million 'B' shares atthe final conversion date. The conversion ratio (being the number of 'B' sharesresulting from the 'C' shares to be converted) is 0.57787913. The number of 'C' shares to be converted into 'B' shares in each holding of 'C'shares as at 25 September 2006 (the record date for the final conversion) willbe rounded 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 25 September 2006 will, immediatelyfollowing the final conversion, hold 577 'B' shares. The final conversion will occur with effect from 26 September 2006. Applications will be made to the Financial Services Authority and to LondonStock Exchange plc for the 'B' shares arising on the final 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 26 September 2006. * The quarterly NAVs value listed investments at their bid prices. The NAVs per'B' share and per 'C' share for the purpose of conversion value listedinvestments at their mid-market prices. For further information, please contact: Hamish Mair 0131 465 1184hamish.mair@fandc.com Martin Cassels 0131 465 1095martin.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