Independent Investment Trust PLC

FTSE Russell notes the proposed Scheme of Reconstruction and voluntary winding up of Independent Investment Trust (UK, 0081168, FTSE SmallCap Index) whereby shareholders will receive shares in Monks Investment Trust (UK, 3051726, FTSE 250 Index) or can elect to receive a cash option in exchange for their current holdings.

Subject to shareholder approval and based on the current timetable, FTSE Russell anticipates the following treatment:

Tuesday 08 November 2022:

Expected announcement of the election results and terms.

FTSE Russell expects to announce confirmed index changes, subject to the timely announcement of the election results and terms.

Please note: Independent Investment Trust is expected to suspend prior to index implementation. In the absence of an active market, the close price will be updated to reflect the default option of stock terms in Monks Investment Trust until it is removed.

Friday 11 November 2022 (at the earliest, assuming two days' notice subsequent to disclosure of election results and stock terms):

Independent Investment Trust will be deleted from FTSE Russell Indices.

Monks Investment Trust will remain within its existing indices with shares increased in accordance with the election results and stock terms.

FTSE Russell will issue further notices confirming index treatment in due course.

For further information please contact FTSE Russell Client Services at info@ftserussell.com or call:

Alternatively please visit our website at www.ftserussell.com

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