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17 Jan 2014 08:59
HENDERSON INTERNATIONAL INCOME TRUST PLC
HENDERSON GLOBAL INVESTORS
17 January 2014
HENDERSON INTERNATIONAL INCOME TRUST PLC (the "Company")
C Share Conversion Ratio, Admission of Ordinary Shares and Total Voting Rights
Further to its announcement on 2 January 2014, the Directors of the Company are pleased to announce the following information in relation to the Conversion of its C Shares.
Conversion Ratio for C Shares
The net asset values attributable to the Ordinary Shares and the C Shares as at the Calculation Date, being the close of business on 14 January 2014, were 97.7488p per share and 115.2022p per share respectively. The NAVs have been calculated including income and after providing for, in the case of the Ordinary Shares, the first interim dividend for the 3 months to 30 November 2013, declared on 2 January 2014 and payable to holders of Ordinary Shares on the register at the close of business on 10 January 2014. For the avoidance of doubt, no dividend will be paid in respect of the C Shares.
The Conversion Ratio, as calculated in accordance with the Company's prospectus dated 23 October 2013 (the "Prospectus"), is accordingly 0.8485 Ordinary Shares for every one C Share held as at the close of business on the conversion record date of 21 January 2014. On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 848 Ordinary Shares ("New Shares") upon Conversion. Entitlements to New Shares will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.
The New Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares already in issue, including all dividends declared in respect of the Ordinary Shares after the Calculation Date.
Further details of Conversion and the rights attaching to the C Shares are set out in the Prospectus (terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined).
Admission to the Official List and to trading on the London Stock Exchange
On the basis of the Conversion Ratio, applications will be made to the UK Listing Authority for 17,818,500 New Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on its Main Market. It is expected that such admissions will become effective, and that dealings in the New Shares will commence, on 22 January 2014.
The C Shares will be permanently removed from the UKLA's Official List and from trading on the London Stock Exchange with effect from the opening of trading on 22 January 2014.
Expected Timetable
The expected timetable for Conversion is as follows:
Record date for Conversion and C Share register closes | 5.00 p.m. on 21 January 2014 |
Dealings in new Ordinary Shares commence | 8.00 a.m. on 22 January 2014 |
CREST accounts credited with New Shares in uncertificated form | 22 January 2014 |
Share certificates in respect of New Shares in certificated form dispatched | Week commencing 27 January 2014 |
Voting Rights and Capital
Effective from 22 January 2014, the Company's share capital will consist of 68,071,550 Ordinary Shares and 8,300,000 non-voting subscription shares. Accordingly, the figure of 68,071,550 may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
Enquiries
For further information, please contact:
Ben Lofthouse Fund Manager Henderson International Income Trust PLC Telephone: 020 7818 5187
| Sarah Gibbons-Cook Investor Relations and PR Manager, Henderson Global Investors Telephone: 020 7818 3198 | James de Sausmarez Director, Head of Investment Trusts Henderson Global Investors Telephone: 020 7818 3349
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