27 Mar 2009 16:17
M&G High Income Investment Trust P.L.C
Issue of Equity
Further to the announcement made by M&G High Income Investment Trust P.L.C (the "Company") on 12 February 2009, and the completion of the reconstruction of M&G Recovery Investment Company Limited ("RIC"), the Company announces that as a result of elections and deemed elections received, application has been made for the admission to the Official List and to trading in the London Stock Exchange for:
61,595,767 new Zero Dividend Shares;
61,595,767 new Income Shares; and
61,595,767 new Capital Shares.
It is expected that these new Shares will commence trading at 8.00 a.m. on 31 March 2009. These shares will be issued in the form of 53,169,829 new Package Units (comprising one new Zero Dividend Share, one new Income Share and one new Capital Share), 8,425,938 new Income & Growth Units (comprising one new Income Share and one new Capital Share) and 8,425,938 new Zero Dividend Shares.
The rollover TAVs in relation to IIC were:
1.829330 pence per RIC Ordinary Share;
54.898737 pence per RIC Zero Dividend Share; and
58.557397 pence per RIC Package Unit
The Company's new Shares and new Units will be issued based on the Company's NAV as at the Calculation Date and on the basis set out in the Company's Circular and Prospectus both published on 12 February 2009 as follows:
59.55 pence per new Zero Dividend Share;
32.75 pence per new Income & Growth Unit; and
92.30 pence per new Package Unit
Following the issue of the above-mentioned Shares the Company will have in issue:
196,898,306 Zero Dividend Shares;
196,898,306 Income Shares; and
196,898,306 Capital Shares.
Enquiries:
Robin Archibald, Winterflood Securities 020 3100 0290
Robert Peel, Winterflood Securities 020 3100 0291
Jonathan McClelland, Company Secretary 0207 548 3027
M & G HIGH INCOME INVESTMENT TRUST PLC