Circular Publication & Notice of General Meeting

RNS Number : 5468T

BB Healthcare Trust PLC

21 July 2020

 

BB Healthcare Trust plc

Publication of Circular and Notice of General Meeting

BB Healthcare Trust plc (the "Company") announces that it has today posted a circular (the "Circular") to shareholders to convene a general meeting (the "General Meeting") to be held on 1 September 2020. The purpose of the meeting is to seek authority from shareholders to allot new ordinary shares ("New Ordinary Shares") on a non-pre-emptive basis.

If the Resolutions are passed, the Company will be permitted to issue up to 46,430,000 Ordinary Shares in aggregate (representing 10 per cent. of the current issued ordinary share capital of the Company) to investors without first having to offer them, pro rata, to Shareholders, with such authority to expire at the conclusion of the Annual General Meeting of the Company to be held in 2021.

The Directors believe that the Proposals will have the following benefits for Shareholders:

· enable the Company to continue to take advantage of opportunities to make further investments in accordance with its investment objective and policy;

· increase the market capitalisation of the Company, helping to make the Company attractive to a wider investor base;

· a greater number of Ordinary Shares in issue should improve liquidity in the secondary market for the Ordinary Shares and make the Ordinary Shares more attractive to a wider range of investors;

· grow the Company, thereby spreading the Company's fixed running costs across a larger equity capital base which should reduce the level of ongoing expenses per Ordinary Share; and

· the Scrip Dividend Scheme enables Shareholders to increase their shareholding in the Company in a simple manner without paying dealing costs.

Full details of the resolutions to be voted on by shareholders of the Company at the General Meeting, to be held at 11.00 a.m. on 1 September 2020, at the offices of Bellevue Asset Management (UK) Ltd, 24th Floor, The Shard, 32 London Bridge Street, London, SE1 9SG, are contained within the Notice of General Meeting set out at the end of the Circular.

As a result of restrictions on movement and gatherings during the COVID-19 pandemic, other than the presence of two persons to be arranged by the Company at the meeting, members are not expected to be allowed to attend the meeting in person.

Copies of the Circular will shortly be available for inspection at the Company's registered office and via the Company's website ( http://www.bbhealthcaretrust.com/en/bb-healthcare-trust/ ). The Circular will also shortly be available via the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

Terms used and not defined in this announcement will bear the meanings given in the Circular.

Enquiries:

PraxisIFM Fund Services (UK) Limited

Brian Smith

Ciara McKillop

020 7653 9690

 

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