Results of Issue of New Conti

RNS Number : 7268M

Standard Life UK Small.Co's Tst PLC

03 February 2009

 



RIS ANNOUNCEMENT

STANDARD LIFE UK SMALLER COMPANIES TRUST PLC

3 FEBRUARY 2009

Results of Issue of new Continuation Shares

The Board of Standard Life UK Smaller Companies Trust PLC (the 'Company') refers to the prospectus (the 'Prospectus') and the circular (the 'Circular') published by the Company on 23 December 2008 in connection with the scheme (the 'Scheme') of reconstruction and winding up of Gartmore Smaller Companies Trust P.L.C. ('Gartmore Smaller') and the rollover of assets of Gartmore Smaller into the Company. Following Gartmore Smaller shareholders voting in favour of the resolutions proposed at the general meeting of Gartmore Smaller this morning, the Scheme has now become unconditional (subject only to the new Continuation Shares to be issued under the Scheme being admitted to listing on the Official List of the UKLA).  

The Board is pleased to announce that, pursuant to the Scheme, 31,189,825 new Continuation Shares will be issued to those shareholders of Gartmore Smaller who are rolling over their investments into the Company.  All elections for Continuation Shares have been satisfied in full.  As set out in the Prospectus and the Circular, the new Continuation Shares are being issued at an issue price of 100p each which is being satisfied by the transfer to the Company of assets of Gartmore Smaller valued at £31.2 million in accordance with the Scheme.

It is expected that the new Continuation Shares will be admitted to listing on the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange at 8.00 am on 4 February 2009.  

Following the issue of the new Continuation Shares, the Company will have 33,202,130 Ordinary Shares in issue and 31,189,825 Continuation Shares in issue, each carrying one voting right per share which in aggregate totals 64,391,955 voting rights.

All enquiries

Douglas Armstrong, Dickson Minto W.S.
Tel. [phone]

Gordon Humphries, Standard Life Investments
Tel. [phone]

 

END

 

 

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