Cancellation of the Company’s Units

CT UK High Income Trust PLC

16 February 2024

 

To:       RNS

From: CT UK High Income Trust PLC

Date:   16 February 2024

LEI:     213800B7D5D7RVZZPV45

CT UK High Income Trust PLC (the "Company")

CANCELLATION OF THE ADMISSION OF THE COMPANY'S UNITS TO TRADING ON THE MAIN MARKET OF THE LONDON STOCK EXCHANGE

The Company currently has units, each comprising 3 ordinary shares of 0.1p each ("Ordinary Shares") and 1 B share of 0.1p each ("B Shares") in the capital of the Company, (the "Units") admitted to trading on the main market of the London Stock Exchange (the "Main Market") under ISIN GB00B1N4H933, SEDOL B1N4H93 and ticker CHIU.  

In order to simplify the Company's listing structure, the Company is proposing to cancel the admission of its Units to trading on the Main Market which will mean that holders of the Units will instead hold and be able to trade their underlying Ordinary Shares and B Shares independently (the "Cancellation").   The Company's Ordinary Shares and B Shares are already admitted to trading on the Main Market and listed on the Official List of the Financial Conduct Authority.

Upon the Cancellation taking effect, for every Unit held, each holder will hold directly (as opposed to through the Unit structure) 3 Ordinary Shares and 1 B Share and will either receive share certificates representing the same (if they hold their Units in certificated form) or have their CREST accounts updated accordingly (if they hold their Units in uncertificated form).  The Cancellation will have no impact on a Unit holder's voting rights nor their rights to receive dividends (in respect of their Ordinary Shares) and capital repayments (in respect of their B Shares) from the Company.  Following the Cancellation, such holders will be able to hold and trade their underlying Ordinary Shares and B Shares independently.

It is currently expected that the Record date will be 6pm on Friday 22 March 2024 and the Cancellation will take effect at 8.00 a.m. on Monday 25 March 2024. 

The Company's issued share capital, which currently comprises 102,067,144 Ordinary Shares and 32,076,703 B Shares, of which 18,744,491 Ordinary shares and 1,367,953 B shares are held in treasury, will not change as a result of the Cancellation. Therefore, (in the absence of share buybacks or issuances before 25 March 2024) the total number of shares with voting rights in the Company is expected to be 83,322,653 Ordinary Shares and 30,708,750 B Shares.

If so, the above figures (83,322,653 Ordinary Shares and 30,708,750 B 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 Disclosure Guidance and Transparency Rules.  

Name of contact and telephone number for enquiries:

David Moss, Columbia Threadneedle Investment Business Limited          0131 573 8300

Ian Ridge, Columbia Threadneedle Investment Business Limited              0131 573 8300

 

END