CULS Conversion Price, Placing & Open Offer Result

RNS Number : 7496D

Standard Life UK Small.Co's Tst PLC

28 March 2011

 



28 March 2011

STANDARD LIFE UK SMALLER COMPANIES TRUST PLC (the "Company")

Results of the Placing, Open Offer and General Meeting and the CULS Conversion Price

Valid applications under the Open Offer for 3.5 per cent. convertible unsecured loan stock 2018 ("CULS") have been received for approximately £4.7 million of  CULS and are expected to be satisfied in full.  Placing commitments will be subject to scaling back.

The Company further announces that the Resolution put to a General Meeting of the Company held today, 28 March 2011, in connection with the Company's proposal to issue CULS and amend the Company's investment policy was duly passed on a show of hands.  It is expected that dealings in the CULS will commence at 8.00 a.m. on 29 March 2011.

The Conversion price of the CULS to be issued by the Company today will be 237.2542 pence nominal of CULS for one Ordinary Share.  This equals a 10 per cent. premium to the published (unaudited) NAV per Ordinary Share (including income) of 215.6856 pence at close of business on 23 March 2011 and is in accordance with the terms of the CULS Issue.

Enquiries

Gordon Humphries, Standard Life Investments Limited	Tel. [phone]
James Moseley/Robin Archibald Winterflood Securities	Tel. [phone]

 

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