Tender Offer

Invesco Perpetual UK Smaller Companies Investment Trust plc

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24 July 2017

Invesco Perpetual UK Smaller Companies Investment Trust plc (the “Company”)

Tender Offer update – completion of the realisation of the Tender Pool

The Company announced on 16 June 2017 that a total of 20,357,155 Shares had been validly tendered by Shareholders under the Tender Offer. 

Today the Company announces that it has completed the realisation of the Tender Pool for cash and is now in a position to complete the Tender Offer. The Tender Pool Determination Date will be close of business on 24 July 2017. The Tender Price will be the Final Tender Offer Asset Value of the Tender Pool divided by the total number of Exit Shares and is expected to be announced by 27 July 2017. The acquisition of the Exit Shares is expected to take place on 27 July 2017. 

The Tender Offer remains conditional upon:

1. J.P. Morgan Cazenove being satisfied that the Company has paid the aggregate amount payable under the Tender Offer into a designated bank account by 4.00 p.m. on 26 July 2017 (or such later date and time as the parties may agree) in accordance with the terms of the Repurchase Agreement; and

2. the Company and J.P. Morgan Cazenove not having agreed to terminate the Tender Offer for any reason; and

3. J.P. Morgan Cazenove being satisfied, acting in good faith, that the Company has complied with its obligations, and is not in breach of any of the representations and warranties given by it, under the Repurchase Agreement

The expected timetable for the completion of the Tender Offer is as follows:

Calculation Date for Tender Price	close of business on 24 July 2017
Announcement of Tender Price	by 27 July 2017
Trade Date for Shares submitted for Tender Offer	27 July 2017
Settlement of proceeds through CREST in respect of Tender Offer shares to uncertificated shareholders	31 July 2017
Despatch of settlement proceeds by cheque in respect of Tender Offer shares to certificated shareholders	4 August 2017

Unless otherwise stated, all references to time in this document are to London time.

Terms used in this announcement shall have the same meaning as set out in the circular dated 17 May 2017. 

Enquiries

Invesco Asset Management Limited       [phone]         

Nick Black

J.P. Morgan Cazenove                                [phone]                                 

William Simmonds

J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), which is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulatory Authority and the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and no-one else in connection with the tender offer and the contents of this announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove nor for providing advice in connection with the tender offer and the contents of this announcement or any other matter referred to herein.

J.P. Morgan Cazenove is not responsible for the contents of this announcement.