FAV Conversion Ratio

RNS Number : 7791B

Aberdeen Diversified I&G Trust PLC

06 April 2017

 

Aberdeen Diversified Income and Growth Trust plc

(Formerly BlackRock Income Strategies Trust plc)

Legal Entity Identifier (LEI): 2138003QINEGCHYGW702

6 April 2017

Merger Update - Formula Asset Values

Aberdeen Diversified Income and Growth Trust plc (the "Company") refers to the Circular and the Prospectus published on 6 March 2017 in connection with the reconstruction and winding up of Aberdeen UK Tracker Trust plc ("AUKT") and the related issue and admission of New Ordinary Shares in the Company.

Ratio

Further to the passing of the resolutions at the Company's General Meeting held on 30 March 2017 and under the terms of the Proposals, the FAVs of the Company and AUKT were calculated for the purposes of the Scheme as at 5.00 pm on 4 April 2017.  The number of New Ordinary Shares to be issued under the Scheme is determined by reference to the Company FAV per Share of 123.3077 pence and the AUKT FAV per Share of 373.9846 pence.

Accordingly, under the terms of the Proposals and conditional upon the Proposals becoming effective, AUKT Shareholders electing to rollover, or being deemed to have elected to rollover, shall receive 3.032937926 New Ordinary Shares in the Company for every existing AUKT Share held. Fractional entitlements to New Ordinary Shares pursuant to the AUKT Scheme will not be issued pursuant to the Proposals and entitlements will be rounded down to the nearest whole number.  No cash payments shall be made or returned in respect of any fractional entitlements which will be retained for the benefit of the Company.

The Proposals remain conditional on the passing of a special resolution at the Second General Meeting of AUKT, which is being held at 11.00 am on 6 April 2017 and admission of the New Ordinary Shares to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange.

Terms used and not defined in this announcement shall have the meaning given to them in the Prospectus published on 6 March 2017.

The information contained within this announcement is considered to be inside information prior to its release as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

www.aberdeendiversified.co.uk

Enquiries:             

Aberdeen Fund Managers Limited

William Hemmings

Gary Jones

Tel. [phone]

Cenkos Securities

Will Rogers

Tel. [phone]

Sapna Shah

Tel. [phone]

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