Conversion of Shares

RNS Number : 7648F

F&C Managed Portfolio Trust PLC.

30 October 2018

 

To:                   RNS

From:              F&C Managed Portfolio Trust plc

Date:               30 October 2018

LEI:                  213800ZA6TW45NM9YY31

Conversion of shares

Shareholders of F&C Managed Portfolio Trust plc (the "Company") have the opportunity to convert their Income Shares into Growth Shares or their Growth Shares into Income Shares annually subject to minimum conversion thresholds.

The Company announces that valid conversion notices were received in respect of the following shares (the "Converting Shares"):

-     37,172 Growth Shares

-     242,448 Income Shares

In accordance with the Company's articles of association, the Converting Shares will be converted into the other share class by reference to the ratio of the relative underlying net asset values of the Growth Shares and Income Shares as at close of business on 25 October 2018.

The conversion ratios were:

-     for every Converting Share which is a Growth Share, holders are entitled to 1.56351 Income Shares and

-     for every Converting Share which is an Income Share, holders are entitled to 0.63958 Growth Shares.

Accordingly, with effect from 1 November 2018 the above Converting Shares will be converted into:

-     58,118 Income Shares; and

-     155,064 Growth Shares

(the "Resulting Shares").

Individual shareholders' entitlements on conversion are rounded down to the nearest whole number of shares. The Resulting Shares will rank parri passu with the existing shares of the relevant class.

Applications have been made for the Resulting Shares to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange for the Resulting Shares to be admitted to trading on the Main Market. 

It is expected that Admission will occur and dealings will commence in such shares at 8.00 a.m. on 1 November 2018.

It is anticipated that certificates in respect of the Resulting Shares will be posted by 7 November 2018 and CREST accounts credited on 1 November 2018.

Total voting rights

Following the conversion the Company will have 42,870,705 Income Shares and 35,634,929 Growth Shares in issue. Therefore the total number of shares with voting rights in the Company is 42,870,705 Income Shares and 35,634,929 Growth Shares. There are no Income Shares or Growth Shares held in treasury. The above figures may be used by shareholders 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 Guidance and Transparency Rules.

For further information please contact:

Ian Ridge, F&C Investment Business Limited            0131 718 1010

Peter Hewitt, F&C Investment Business Limited        0131 718 1244

 

END

 

 

CONWGGAUUUPRGQU