Last checked at 30 Apr 2018 15:40
Invesco Perpetual Select Trust Plc - Conversion of SecuritiesInvesco Perpetual Select Trust Plc - Conversion of Securities
PR Newswire
London, April 30
INVESCO PERPETUAL SELECT TRUST PLC
LEI: 549300JZQ39WJPD7U596
Headline: Conversion of Shares
The Board of Invesco Perpetual Select Trust plc (the ‘Company’) announces that valid Conversion Notices have been received in respect of:
| 519,247 | UK Equity Shares |
| 23,786 | Global Equity Income Shares |
| 18,246 | Balanced Risk Allocation Shares |
| 287,591 | Managed Liquidity Shares |
The respective Conversion Ratios were as follows:
- For every UK Equity Share converted, holders will receive 0.908831 Global Equity Income Shares, 1.326823 Balanced Risk Allocation Shares or 1.784695 Managed Liquidity Shares;
- For every Global Equity Income Share converted, holders will receive 1.100314 UK Equity Shares, 1.459922 Balanced Risk Allocation Shares or 1.963726 Managed Liquidity Shares;
- For every Balanced Risk Allocation Share converted, holders will receive 0.753680 UK Equity Shares, 0.684968 Global Equity Income Shares or 1.345089 Managed Liquidity Shares;
- For every Managed Liquidity Share converted, holders will receive 0.560320 UK Equity Shares, 0.509236 Global Equity Income Shares or 0.743445 Balanced Risk Allocation Shares.
The Conversion Ratios, which will be effective on 1 May 2018, are based on the relative net asset values of the Company’s Share classes as at close of business on 26 April 2018.
Individual Shareholders’ entitlements on conversion on 1 May 2018 will be rounded down to the nearest whole number of Shares. Fractional entitlements will be aggregated and sold in the market. The Shares arising or allotted pursuant to the conversion will rank pari passu with the existing Shares of the relevant class and, for the avoidance of doubt, will not rank for the dividends declared on 18 April 2018 in respect of the UK Equity and Global Equity Income Shares.
The net changes to the number of shares outstanding following the conversion and allotments are as follows:
| -511,246 | UK Equity Shares |
| +563,323 | Global Equity Income Shares |
| +30,516 | Balanced Risk Allocation Shares |
| -234,843 | Managed Liquidity Shares |
| +189,843 | Deferred Shares |
Following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be:
| 36,136,971 | UK Equity Shares |
| 33,897,219 | Global Equity Income Shares |
| 6,937,892 | Balanced Risk Allocation Shares |
| 4,700,708 | Managed Liquidity Shares |
The Company has applied for the following numbers of Shares arising or allotted pursuant to conversion to be admitted to the Official List and to trading on the London Stock Exchange:
| 8,001 | UK Equity Shares |
| 587,109 | Global Equity Income Shares |
| 48,762 | Balanced Risk Allocation Shares |
| 52,748 | Managed Liquidity Shares |
Dealings in such shares are expected to commence at 8.00 a.m. on 2 May 2018. It is expected that Certificates in respect of the Resulting Shares will be posted by 11 May 2018.
The Deferred Shares arising on the conversion will be cancelled.
The remaining conversion dates for 2018 are set out below. Elections for conversion must be received by close of business ten days prior to the respective conversion date. Where that day is not a business day, elections by way of CREST must be transmitted and properly authenticated by 6.00pm on the last preceding business day. Written elections will be accepted if received by the first post on the following business day.
| Conversion Date | Date by which elections for conversion must be received |
| 1 August 2018 | 22 July 2018 |
| 1 November 2018 | 22 October 2018 |
Instructions on how to convert Shares on any conversion date are available on the web pages of all the share classes on the Investment Manager’s website: www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary.
30 April 2018
Contact: Angus Pottinger 020 3753 1000