CULS Conversion Price, Result

RNS Number : 0874Z

Edinburgh Dragon Trust plc

07 January 2011

 



7 January 2011

EDINBURGH DRAGON TRUST PLC (the 'Company')

CULS Conversion Price and results of the Open Offer

The Conversion Price for the 3.5 per cent. convertible unsecured loan stock 2018 ("CULS") to be issued by the Company on 12 January 2010 will be 310.1528 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 281.9571 pence at close of business on 5 January 2011 and is in accordance with the terms of the CULS Issue.

The issue of the CULS is subject to shareholder approval which is being sought at the General Meeting of the Company to be held on 11 January 2011.  Subject to such approval being obtained, it is expected that dealings in the CULS will commence at 8:00 a.m. on 12 January 2011.

Valid applications under the Open Offer of the CULS have been received for £15.8 million of CULS and are expected to be satisfied in full.  Placing commitments will be subject to scaling back, and no applications under the Excess Application Facility will be fulfilled as the Issue will be fully subscribed by applications under the Open Offer and through commitments under the Placing.

Enquiries:

James Moseley/Robin Archibald, Winterflood Securities 020 3100 0250/0290

William Hemmings/Ian Massie, Aberdeen Asset Managers Limited 020 7463 6223/0131 528 4123

Tom Eckersley/Rowan Brown, Maitland 020 7379 5151

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