Personal Assets Trust Regulatory News (PNL)

To: RNS

LEI: 213800Z7ABM7RLQ41516

From: Personal Assets Trust plc

Date: 27 July 2022

Update on Share Split

As announced in its annual report for the year ended 30 April 2022, Personal Assets Trust plc (the "Company") sought shareholder approval at the Annual General Meeting held on 14 July 2022 to subdivide each Ordinary share on a 100 for one basis (the "Share Split"). The resolution to approve the Share Split was passed at the Annual General Meeting. Accordingly, further details of the Share Split are set out below.

Under the Share Split, each ordinary share of £12.50 each in the capital of the Company (the "Existing Ordinary shares") will be subdivided into 100 new ordinary shares of 12.5 pence each in the capital of the Company (the "New Ordinary shares").

A holding of New Ordinary shares following the Share Split 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 Share Split. The Share Split will not therefore affect the overall value of a shareholder's holding in the Company. The New Ordinary shares will rank pari passu with each other and will carry the same rights and be subject to the same restrictions as the Existing Ordinary shares, including the same rights to participate in dividends paid by the Company. Communication preferences and mandates and other instructions for the payment of dividends in paper form or via CREST will, unless and until revised, continue to apply to the New Ordinary shares.

The Share Split is conditional on the New Ordinary shares being admitted to the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange (the "Admission Applications"). The Admission Applications have been made and it is expected that the Share Split will become effective and that dealings in the New Ordinary shares will commence at 8.00am on Monday, 1 August 2022. The last day of dealing in the Existing Ordinary shares will be Friday, 29 July 2022, with the record date for the Share Split being 6.00pm on that day (the "Record Date").

Shareholders will receive 100 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 Monday, 1 August 2022 and share certificates in respect of the New Ordinary shares are expected to be posted to shareholders no later than Monday, 15 August 2022.

The ticker for the New Ordinary shares will remain the same as the ticker for the Existing Ordinary shares (PNL).

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

ISIN: GB00BM8B5H06

SEDOL: BM8B5H0

A further announcement confirming the number of shares in issue and the total voting rights following the Share Split will be released on 29 July 2022.

Further details please see the Q&A on the Company's website, www.patplc.co.uk. 

Juniper Partners Limited

Company Secretary

Enquiries: 0131 378 0500