Issue of Equity

RNS Number : 7348C

City Natural Res High Yield Tst PLC

02 October 2018

 

02 October 2018

CITY NATURAL RESOURCES HIGH YIELD TRUST PLC (THE "COMPANY")

LEI: 549300ES8CNIK2CQR054

Issue of equity - CULS CONVERSION

The Company has issued 398 ordinary shares of 25p each in the capital of the Company (the "New Shares") in connection with the exercise of conversion rights by holders of £1,508 nominal of the Company's 3.5 per cent. convertible unsecured loan stock 2018 ("CULS") with effect from 30 September 2018, conditional only on admission of the New Shares to listing in the premium segment of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange ("Admission"). 

Applications have been made to the Financial Conduct Authority and the London Stock Exchange for Admission and Admission is expected to become effective, and dealings in the New Shares are expected to commence, at 8.00 a.m. on 08 October 2018.  Following Admission, the New Shares will rank pari passu in all respects with the existing ordinary shares of 25p each in the capital of the Company ("Ordinary Shares"). 

On Admission, the Company's issued share capital will comprise 66,888,509 Ordinary Shares, none of which will be held in treasury.  Each ordinary share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 66,888,509.  This figure may be used by shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Guidance Rules.

This was the last opportunity for CULS holders to exercise conversion rights.  £34,509,566 nominal of CULS was not converted and this amount has been repaid to CULS holders.

For further information, please contact:

Martin Cassels

Maitland Administration Services (Scotland) Limited

T: 0131 550 3760

 

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