Transaction Update

Perpetual Income & Growth Investment Trust Plc - Transaction Update

PR Newswire

London, October 29

30 October 2020

Perpetual Income and Growth Investment Trust plc

Transaction update

On 8 October 2020 Perpetual Income and Growth Investment Trust plc (the “Company”) announced that it had agreed the basis upon which Aberdeen Standard Investments (“ASI”) would advise the Company on its portfolio realignment and transition plan ahead of the Company’s section 110 scheme of reconstruction (details of which were announced on 12 October 2020) (referred to below as the “Realignment and Transition Plan” and the “Transaction” respectively). Invesco Fund Managers Limited remains the Company’s alternative investment fund manager until the Company enters liquidation, expected on 17 November 2020.

The Company announces that, under the Realignment and Transition Plan, the proportion of the Company’s portfolio that will be combined with that of Murray Income Trust PLC (“MUT”) as part of the Transaction is now fully aligned with ASI’s target portfolio for MUT as enlarged by the Transaction. The remainder of the Company’s original portfolio (being approximately 26% of assets), consists of cash, cash equivalents and holdings with high degrees of liquidity that have yet to be sold. These holdings will be realised in time to fund the final interim dividend, which is expected to be paid on 13 November 2020, payments to those shareholders that elect for the cash option under the Transaction and the Company's costs under the Transaction.

Further information on the Transaction can be found in the Company’s shareholder circular that was published on 12 October 2020 and is available on the Company’s website at https://www.invesco.com/uk/en/investment-trusts/individual/perpetual-income-and-growth-investment-trust-plc.html.

Contacts

Richard Laing, ChairmanContact through Winterflood

Winterflood Investment Trusts (Corporate Broker)Joe Winkley / Neil MorganTelephone 020 3100 0301 / 0292