19 Oct 2009 07:00
For immediate release on 19 October 2009
F&C Private Equity Trust plc
Proposed issue of zero dividend preference shares
In its half yearly report to 30 June 2009, F&C Private Equity Trust plc (the "Company") confirmed that the Board was continuing to explore a number of options to provide longer term finance to the Company in light of changing market conditions. The Board, having further considered the options available to the Company, is now pleased to announce that it intends to undertake an institutional placing to raise gross proceeds of up to £30 million through the issue of new zero dividend preference shares ("ZDP Shares") by a new wholly owned subsidiary of the Company. It is expected that the ZDP Shares will have a life of 5 years.
The Company expects to publish a prospectus in connection with the proposed placing and make a further announcement in relation to the detailed terms of the proposed issue in due course.
For more information contact:
| F&C Asset Management PLC | 0131 718 1184 |
| (Investment Manager) | |
| Hamish Mair | |
| Arbuthnot Securities Limited | 020 7012 2000 |
| (Placing Agent and Broker) | |
| Alastair Moreton | |
| Intelli Corporate Finance Limited | 020 7653 6300 |
| (Sponsor and Financial Adviser) | |
| Sue Inglis | |
| | |