Issue of Equity

RNS Number : 4524H

F&C Managed Portfolio Trust PLC.

30 November 2015

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR south africa OR any jurisdiction in which the same could be unlawful. the information contained herein does not constitute an offer of securities for sale in any jurisdiction, including in the united states, CANADA, australia, japan OR south africa. 

F&C Managed Portfolio Trust plc

30 November 2015

F&C Managed Portfolio Trust plc issues New Shares to the value of £12.9 million in connection with the Cayenne Rollover

The Board of F&C Managed Portfolio Trust plc (the "Company") refers to the prospectus published by the Company on 30 October 2015 in connection with, inter alia, the rollover of certain assets held by The Cayenne Trust plc (the "Cayenne Trust") to the Company by way of a scheme of reconstruction and winding up of the Cayenne Trust under section 110 of the Insolvency Act 1986 (the "Cayenne Scheme").

The Board is pleased to announce that, following the passing of the resolution at the general meeting of Cayenne earlier today, the Company will acquire approximately £12.9 million of assets of Cayenne in consideration for the issue of New Shares to Cayenne Shareholders.  The assets acquired comprise cash and cash equivalents.

The number of New Shares to be issued to Cayenne Shareholders under the Cayenne Scheme was based on the adjusted Net Asset Value of a Cayenne Share and the adjusted Net Asset Value of an Income Share and a Growth Share as at 25 November 2015.  Accordingly Cayenne Shareholders will receive approximately 1.05 New Growth Shares for every existing share in the Cayenne Trust or 1.36 New Income Shares for every existing share in the Cayenne Trust and 3,887,194 New Growth Shares and 6,020,099 New Income Shares will be issued to Cayenne Shareholders in aggregate.

Applications have been made for the New Shares to be issued pursuant to the Cayenne Scheme to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on the Main Market.  It is expected that Admission will occur and dealings will commence in the New Shares to be issued pursuant to the Cayenne Scheme at 8.00 a.m. on 2 December 2015.

Total voting rights

Following the issue of New Shares pursuant to the Cayenne Scheme, the Company will have 42,535,035 Income Shares and 34,277,037 Growth Shares in issue.  Therefore the total number of shares with voting rights in the Company is 42,535,035 Income Shares and 34,277,037 Growth Shares. There are no Income Shares or Growth Shares held in treasury. The above figures (42,535,035 Income Shares and 34,277,037 Growth Shares) 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 and Transparency Rules.

All enquiries

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

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

Notes

This announcement is for information purposes only and does not purport to be full or complete and any decision regarding the Proposals should be made only on the basis of the Prospectus. This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor. 

The issue and the distribution of this announcement, the Cayenne Circular and/or the Prospectus in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to this announcement, the Cayenne Circular and/or the Prospectus comes should inform themselves about and observe any such restriction.  Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

END

 

 

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