1 Nov 2016 14:45
INVESCO PERPETUAL SELECT TRUST PLC - Conversion of SecuritiesINVESCO PERPETUAL SELECT TRUST PLC - Conversion of Securities
PR Newswire
London, November 1
INVESCO PERPETUAL SELECT TRUST PLC
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:
| 108,739 | UK Equity Shares |
| 21,231 | Global Equity Income Shares |
| 7,748 | Balanced Risk Shares |
| 336,027 | Managed Liquidity Shares |
The respective Conversion Ratios were as follows:
For every UK Equity Share converted, holders will receive 0.928859 Global Equity Income Shares, 1.309216 Balanced Risk Shares or 1.660414 Managed Liquidity Shares; For every Global Equity Income Share converted, holders will receive 1.076589 UK Equity Shares, 1.409488 Balanced Risk Shares or 1.787584 Managed Liquidity Shares; For every Balanced Risk Share converted, holders will receive 0.763816 UK Equity Shares, 0.709477 Global Equity Income Shares or 1.268251 Managed Liquidity Shares; For every Managed Liquidity Share converted, holders will receive 0.602259 UK Equity Shares, 0.559414 Global Equity Income Shares or 0.788488 Balanced Risk Shares.The Conversion Ratios, which will be effective on 1 November 2016, are based on the relative net asset values of the Company’s Share classes as at close of business on 20 October 2016.
Individual Shareholders’ entitlements on conversion on 1 November 2016 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 14 October 2016 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:
| +115,323 | UK Equity Shares |
| +86,169 | Global Equity Income Shares |
| -7,487 | Balanced Risk Shares |
| -336,027 | Managed Liquidity Shares |
| +143,712 | Deferred Shares |
Following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be:
| 39,167,678 | UK Equity Shares |
| 32,695,170 | Global Equity Income Shares |
| 7,099,860 | Balanced Risk Shares |
| 5,451,474 | 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:
| 224,062 | UK Equity Shares |
| 107,400 | Global Equity Income Shares |
| 261 | Balanced Risk Shares |
| zero | Managed Liquidity Shares |
Dealings in such shares are expected to commence at 8.00 a.m. on 2 November 2016. It is expected that Certificates in respect of the Resulting Shares will be posted by 11 November 2016.
The Deferred Shares arising on the conversion will be cancelled.
The conversion dates for 2017 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 February 2017 | 22 January 2017 |
| 2 May 2017 | 22 April 2017 |
| 1 August 2017 | 22 July 2017 |
| 1 November 2017 | 22 October 2017 |
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.
1 November 2016
Contact: Angus Pottinger 020 3753 1000