INVESCO PERPETUAL SELECT TRUST PLC
LEI: 549300JZQ39WJPD7U596
Headline: Conversion of Shares
The Board of Invesco Perpetual Select Trust plc (the 'Company') announces that
valid Conversion Notices have been received in respect of:
430,094 UK Equity Shares
7,838 Global Equity Income Shares
25,692 Balanced Risk Shares
55,209 Managed Liquidity Shares
The respective Conversion Ratios were as follows:
* For every UK Equity Share converted, holders will receive 0.924324 Global
Equity Income Shares, 1.331183 Balanced Risk Shares or 1.699099 Managed
Liquidity Shares;
* For every Global Equity Income Share converted, holders will receive
1.081872 UK Equity Shares, 1.440169 Balanced Risk Shares or 1.838207
Managed Liquidity Shares;
* For every Balanced Risk Share converted, holders will receive 0.751212 UK
Equity Shares, 0.694363 Global Equity Income Shares or 1.276383 Managed
Liquidity Shares;
* For every Managed Liquidity Share converted, holders will receive 0.588547
UK Equity Shares, 0.544008 Global Equity Income Shares or 0.783464 Balanced
Risk Shares.
The Conversion Ratios, which will be effective on 1 February 2017, are based on
the relative net asset values of the Company's Share classes as at close of
business on 26 January 2017.
Individual Shareholders' entitlements on conversion on 1 February 2017 will be
rounded down to the nearest whole number of Shares. Fractional entitlements
will be aggregated and sold in the market. The Shares arising or allotted
pursuant to the conversion will rank pari passu with the existing Shares of the
relevant class and, for the avoidance of doubt, will not rank for the dividends
declared on 18 January 2017 in respect of the UK Equity and Global Equity
Income Shares.
The net changes to the number of shares outstanding following the conversion
and allotments are as follows:
-421,615 UK Equity Shares
+418,335 Global Equity Income Shares
+2,025 Balanced Risk Shares
-55,209 Managed Liquidity Shares
+64,003 Deferred Shares
Following the conversion, the total number of listed Shares in issue (excluding
shares held in treasury) will be:
38,626,063 UK Equity Shares
33,113,505 Global Equity Income Shares
7,101,885 Balanced Risk Shares
5,396,265 Managed Liquidity Shares
The Company has applied for the following numbers of Shares arising or allotted
pursuant to conversion to be admitted to the Official List and to trading on
the London Stock Exchange:
8,479 UK Equity Shares
426,173 Global Equity Income Shares
27,717 Balanced Risk Shares
zero Managed Liquidity Shares
Dealings in such shares are expected to commence at 8.00 a.m. on 2 February
2017. It is expected that Certificates in respect of the Resulting Shares will
be posted by 10 February 2017.
The Deferred Shares arising on the conversion will be cancelled.
The remaining conversion dates for 2017 are set out below. Elections for
conversion must be received by close of business ten days prior to the
respective conversion date. Where that day is not a business day, elections by
way of CREST must be transmitted and properly authenticated by 6.00pm on the
last preceding business day. Written elections will be accepted if received by
the first post on the following business day.
Conversion Date Date by which elections for
conversion must be received
2 May 2017 22 April 2017
1 August 2017 22 July 2017
1 November 2017 22 October 2017
Instructions on how to convert Shares on any conversion date are available on
the web pages of all the share classes on the Investment Manager's website:
www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary.
31 January 2017
Contact: Angus Pottinger 020 3753 1000