Last checked at 31 Oct 2019 14:53
Invesco Perpetual Select Trust Plc - Conversion of SecuritiesInvesco Perpetual Select Trust Plc - Conversion of Securities
PR Newswire
London, October 31
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:
| 64,328 | UK Equity Shares |
| 124,244 | Global Equity Income Shares |
| 20,999 | Balanced Risk Allocation Shares |
| zero | Managed Liquidity Shares |
The respective Conversion Ratios were as follows:
- For every UK Equity Share converted, holders will receive 0.855236 Global Equity Income Shares, 1.229397 Balanced Risk Allocation Shares or 1.705728 Managed Liquidity Shares;
- For every Global Equity Income Share converted, holders will receive 1.169268 UK Equity Shares, 1.437495 Balanced Risk Allocation Shares or 1.994453 Managed Liquidity Shares;
- For every Balanced Risk Allocation Share converted, holders will receive 0.813407 UK Equity Shares, 0.695655 Global Equity Income Shares or 1.387451 Managed Liquidity Shares;
- For every Managed Liquidity Share converted, holders would receive 0.586260 UK Equity Shares, 0.501391 Global Equity Income Shares or 0.720746 Balanced Risk Allocation Shares.
The Conversion Ratios, which will be effective on 1 November 2019, are based on the relative net asset values of the Company’s Share classes as at close of business on 24 October 2019.
Individual Shareholders’ entitlements on conversion on 1 November 2019 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 3 October 2019 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:
| +62,756 | UK Equity Shares |
| -61,021 | Global Equity Income Shares |
| +6,067 | Balanced Risk Allocation Shares |
| +6,238 | Managed Liquidity Shares |
| +14,622 | Deferred Shares |
Following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be:
| 32,612,465 | UK Equity Shares |
| 31,128,213 | Global Equity Income Shares |
| 5,526,917 | Balanced Risk Allocation Shares |
| 4,248,359 | 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:
| 127,084 | UK Equity Shares |
| 63,223 | Global Equity Income Shares |
| 27,066 | Balanced Risk Allocation Shares |
| 6,238 | Managed Liquidity Shares |
Dealings in such shares are expected to commence at 8.00 a.m. on 4 November 2019. It is expected that Certificates in respect of the Resulting Shares will be posted by 15 November 2019.
The Deferred Shares arising on the conversion will be cancelled.
The conversion dates for 2020 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 |
| 3 February 2020 | 24 January 2020 |
| 1 May 2020 | 21 April 2020 |
| 3 August 2020 | 24 July 2020 |
| 2 November 2020 | 23 October 2020 |
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.invesco.co.uk/investmenttrusts and from the Company Secretary.
31 October 2019
Contact: Paul Griggs 020 3753 1000