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23 Feb 2026 07:00
23 February 2026
Smithson Investment Trust plc
Legal Entity Identifier: 52990070BDK2OKX5TH79
Results of Elections
On 10 February 2026, the Board of Smithson Investment Trust plc (the "Company") announced that Shareholders had approved the proposals for the scheme of reconstruction and members' voluntary winding up of the Company under section 110 of the Insolvency Act 1986 (the "Scheme") at the First General Meeting. Implementation of the Scheme remains subject to, among other things, Shareholder approval at the Second General Meeting to be held on 27 February 2026.
The Board is pleased to announce the following Elections in connection with the Scheme:
· Rollover Option: 44,435,955 Shares / 41.36 per cent. of issued Shares (excluding Shares held in treasury); which will be reclassified as Reclassified Shares with "A" rights, being the right to receive Fund Shares in Smithson Equity Fund (the "Fund"); and
· Cash Option: 62,991,528 Shares / 58.64 per cent. of issued Shares (excluding Shares held in treasury); which will be reclassified as Reclassified Shares with "B" rights, being the right to receive cash.
In accordance with the Scheme, eligible Shareholders and CSN Participants that made no Election have been deemed to have elected for the Rollover Option.
Further information
The Shares were disabled for settlement in CREST from 6.00 p.m. on 10 February 2026 and trading was suspended from 7.30 a.m. on 11 February 2026. Following the reclassification of the Shares on 25 February 2026, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 27 February 2026.
Unless the context otherwise requires, defined terms used in this announcement have the meanings given in the Company's circular to Shareholders dated 22 January 2026 (the "Circular"). The Circular is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.smithson.co.uk.
The person responsible for arranging for the release of this announcement on behalf of the Company is Apex Listed Companies Services (UK) Limited, the Company Secretary.
Expected Timetable
Latest time and date for receipt of online voting instructions and PURPLE Forms of Instruction from CSN Participants in respect of the Second General Meeting | 9.30 a.m. on 24 February |
Reclassification of the Shares | 8.00 a.m. on 25 February |
Latest time and date for receipt of electronic proxy appointments, CREST voting instructions and BLUE Forms of Proxy in respect of the Second General Meeting | 9.30 a.m. on 25 February |
Suspension of Reclassified Shares and the Register closes | 7.30 a.m. on 27 February |
Second General Meeting | 9.30 a.m. on 27 February |
Appointment of the Liquidators | 27 February |
Effective Date and Transfer Agreement executed and implemented | 27 February |
Announcement of the Cash FAV per Share, the Final Rollover FAV and the number of Fund Shares to be issued pursuant to the Scheme | 27 February |
Fund Shares issued pursuant to the Scheme | 27 February |
First day of dealing in Fund Shares | 2 March |
Contract notes expected to be despatched in respect of Fund Shares issued pursuant to the Scheme | as soon as practicable after the Effective Date |
Electronic payments or cheques expected to be despatched and CREST payments made to Shareholders and CSN Participants in respect of the Cash Option | not later than 10 Business Days after the Effective Date |
Cancellation of listing of Reclassified Shares | as soon as practicable after the Effective Date |
Note: All references to time in this document are to UK time. Each of the times and dates in the above expected transaction timetable may be extended or brought forward. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders and CSN Participants by an announcement through a Regulatory Information Service. | |
Enquiries:
Smithson Investment Trust plc Mike Balfour, Chairman | c/o Burson Buchanan |
J.P. Morgan Cazenove (Sole Financial Adviser) William Simmonds Rupert Budge | +44 (0) 203 493 8000 |
Burson Buchanan (Financial PR) Henry Wilson Helen Tarbet Nick Croysdill | smithson@buchanancomms.co.uk +44 (0) 7788 528143 +44 (0) 7872 604453 +44 (0) 7815 823412 |
Apex Listed Companies Services (UK) Limited (Corporate Company Secretary) | +44 (0) 203 327 9720 |
This announcement is not for publication or distribution in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
LEI: 52990070BDK2OKX5TH79
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