Finsbury Worldwide Pharmaceutical Trust PLC
4 September 2009
Results of General Meeting and Issue of Subscription Shares
Finsbury Worldwide Pharmaceutical Trust PLC (the "Company") announces that at
the General Meeting of the Company held on 4 September 2009 to consider a
proposal to make a bonus issue of Subscription Shares, the resolution giving
effect to the Bonus Issue was duly passed.
Issue of Subscription Shares
A total of 9,730,960 Subscription Shares have been allotted, subject to
listing, to Ordinary Shareholders on the register at 5.00 p.m. on 3 September
2009, by way of a bonus issue on the basis of one Subscription Share for every
five Ordinary Shares held at that date.
Each Subscription Share will confer the right, but not the obligation, to
subscribe for one Ordinary Share on each of 31 October, 31 January, 30 April
and 31 July (or if such date is not a Business Day, on the next following
Business Day) between (and including) 31 October 2009 and 31 July 2014, each a
Subscription Date.
The Subscription Price, equal to the published unaudited NAV per Ordinary Share
as at 5.00 p.m. on 3 September 2009 (including current period revenue) of
607.44 pence per share plus a percentage premium to such amount, rounded up to
the nearest whole penny, is as follows:
- if exercised on any Subscription Date between (and including) 31 October
2009 and 31 July 2010, a premium of 1 per cent. (614 pence);
- if exercised on any Subscription Date between (and including) 1 August
2010 and 31 July 2012, a premium of 5 per cent. (638 pence); and
- if exercised on any Subscription Date between (and including) 1 August
2012 and 31 July 2014, a premium of 15 per cent. (699 pence).
Application has been made for the Subscription Shares to be admitted to the
Official List and to trading on the London Stock Exchange. It is expected that
dealings in the Subscription Shares will commence at 8.00 a.m. on 7 September
2009. It is anticipated that certificates in respect of the Subscription Shares
will be sent out in the week commencing 7 September 2009.
Terms used and not defined in this announcement shall bear the meanings given
to them in the Prospectus dated 11 August 2009.
Enquiries:
Mark Pope, Frostrow Capital LLP - 020 3008 4913
Jane Lewis, Winterflood Investment Trusts - 020 3100 0295
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