Investment Management Update

RNS Number : 1431V

European Investment Trust PLC (The)

29 November 2019

 

29 November 2019

The European Investment Trust plc

Investment Management Update

Further to its announcement on 10 October 2019, the Board of The European Investment Trust plc (the "Company") is pleased to provide an update on the transition of investment management arrangements to Baillie Gifford & Co Limited ("Baillie Gifford"), the Company's new Alternative Investment Fund Manager ("AIFM"), company secretary and administrator.

The Board has approved the investment management agreement to be entered into between Baillie Gifford and the Company.

Baillie Gifford has received confirmation from the Financial Conduct Authority ("FCA") that it can proceed with the assumption of the investment management function of the Company.

Accordingly, the Board, Baillie Gifford and Edinburgh Partners AIFM Limited ("Edinburgh Partners") have agreed to implement the following timetable to effect the transition:

·      the appointment of Edinburgh Partners as AIFM will terminate at 11:59 pm on Friday, 29 November 2019;

·      the appointment of Baillie Gifford as AIFM will take effect immediately after 11.59 p.m. on Friday, 29 November 2019;

·      the Company will apply to change its name to "Baillie Gifford European Growth Trust plc" and its registered office address to Grimaldi House, 28 St James's Square, St James's, London SW1Y 4JH, with the aim of effecting the change of name and registered office address as soon as practicable, subject to obtaining the necessary regulatory approvals;

·      the ticker of the Company will change from "EUT" to "BGEU" and it is expected that this will happen on the day following the change of name becoming effective; and

·      the Company's new website address will be www.bgeuropeangrowth.com

The Board expects to provide further updates in due course in relation to the timing for the change of name and ticker.

The Company's Legal Entity Identifier is: 213800QNN9EHZ4SC1R12

For further information please contact:

Peel Hunt LLP

Luke Simpson / Liz Yong (Corporate Broking)

020 7418 8900

 

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