3 Nov 2008 12:42
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 11 September 2008, and the completion of the reconstruction of M& G Income Investment Limited (`IIC'), 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:
83,275,360 new Zero Dividend Shares;
83,275,360 new Income Shares; and
83,275,360 new Capital Shares.
It is expected that these new Shares will commence trading at 8.00 a.m. on 4 November 2008. These shares will be issued in the form of 73,684,108 new Package Units (comprising one new Zero Dividend Share, one new Income Share and one new Capital Share), 9,591,252 new Income & Growth Units (comprising one new Income Share and one new Capital Share) and 9,591,252 new Zero Dividend Shares.
The rollover TAVs in relation to IIC were:
6.245637 pence per IIC Ordinary Share;
56.600000 pence per IIC Zero Dividend Share; and
69.091274 pence per IIC 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 11 September 2008 as follows:
57.71 pence per new Zero Dividend Share;
42.74 pence per new Income & Growth Unit; and
100.45 pence per new Package Unit
Following the issue of the above-mentioned Shares the Company will have in issue:
136,827,539 Zero Dividend Shares;
136,827,539 Income Shares; and
136,827,539 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