Result of Tender Offer

RNS Number : 0036U

Standard Life UK Small.Co's Tst PLC

24 July 2015

 

Standard Life UK Smaller Companies Trust plc (the "Company")

Result of Periodic Tender Offer

24 July 2015

Further to the announcement by the Company on 2 June 2015 of a tender offer on 30 June 2015 for up to five per cent. of the Company's shares in issue (the "Tender Offer"), details of which were contained in a circular sent to shareholder dated 2 June 2015 (the "Circular"), the Board announces that the Tender Offer was over-subscribed with 8.38 per cent. of the Company's issued share capital being validly tendered. As a result, the Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 47.78 per cent. of the excess Shares tendered.

The net asset value per Share as at 30 June 2015 (the Calculation Date) was 336.88 pence per Share. Accordingly the Tender Price which has been calculated in accordance with the Circular is 322.66 pence per Share.

A total of 3,470,930 Shares will be repurchased by the Company in the market under the Tender Offer and placed into treasury. Following the implementation of the Tender Offer the Company will have 65,947,670 Shares in issue with a total number of 65,947,670 voting rights and will have 5,679,505 Shares in treasury.

It is expected CREST accounts will be credited with proceeds in respect of successfully tendered Shares and with unsold uncertificated Shares on 28 July 2015 and that cheques and balancing certificates in respect of unsold certificated Shares will be dispatched on or around 3 August 2015.

Terms used in this announcement shall, unless the context otherwise requires, have the same meaning given to them in the Circular.

Enquiries

Gordon Humphries, Standard Life Investments Limited	Tel. [phone]
Joe Winkley Winterflood Securities Limited	Tel. [phone]

 

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