Polar Capital Technology Trust Regulatory News (PCT)

Polar Capital Technology Trust plc

Legal Entity Identifier (LEI): 549300TN1O5392UC4K19

Proposed Share Sub-division

17 July 2024

As announced in the annual results published today, Polar Capital Technology Trust plc (the "Company") announces that shareholders will be requested at the Annual General Meeting to be held on 11 September 2024 (the "AGM") to approve the sub-division (the "Sub-division") of the ordinary shares of 25 pence each (each an "Existing Ordinary Share") into ten new ordinary shares of 2.5 pence each (each a "New Ordinary Share"). The Sub-division is intended to assist regular savers and those who are looking to invest smaller amounts. The reduced market price of each New Ordinary Share immediately following the share split is intended to help make each share more affordable to investors, thus encouraging greater participation and providing greater flexibility in terms of the size of the trades for investors with different investment profiles.

The Sub-division is conditional on approval by shareholders at the AGM as well as the New Ordinary Shares being admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). Admission applications will be made and it is expected that Admission will become effective, and that dealings in the new Ordinary shares will commence, at 8.00 a.m. on 13 September 2024, at which time the Sub-division will become effective. The last day of registration of transfers in the Existing Ordinary Shares is expected to be 12 September 2024 and the record date for the Sub-division is 6.00 p.m. on that date (the "Record Date").

If approved by Shareholders, the Sub-division will result in Shareholders receiving ten New Ordinary Shares in exchange for each Existing Ordinary Share held at the Record Date. CREST accounts are expected to be credited with New Ordinary Shares on 13 September 2024 and share certificates in respect of the New Ordinary Shares are expected to be posted to shareholders no later than 27 September 2024.

The New Ordinary Shares will have a new ISIN and SEDOL as follows:

New ISIN: GB00BR3YV268

New SEDOL: BR3YV26

The ticker for the New Ordinary Shares will remain the same as the ticker for the Existing Ordinary Shares (PCT). The New Ordinary Shares will rank equally with each other and will carry the same rights and be subject to the same restrictions (save as to nominal value) as the Existing Ordinary Shares.

As at 16 July 2024 (being the latest practicable date prior to the publication of this announcement) the Company has 137,315,000 Ordinary Shares in issue (including 17,710,027 held in Treasury). Immediately following the Sub-division and on the assumption that no ordinary shares are bought back or issued by the Company between the date of this announcement and the date on which the Sub-division takes effect, the Company will have 1,373,150,000 New Ordinary Shares in issue (including 177,100,270 held in Treasury. A holding of New Ordinary Shares immediately following the Sub-division will represent the same proportion of the issued ordinary share capital of the Company as the corresponding holding of Existing Ordinary Shares immediately prior to the Sub-division. The Sub-division will therefore itself not affect the overall value of a shareholder's holding in the Company.

Expected Timetable

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