C Share Conversion Ratio

RNS Number : 0846O

Henderson Intl. Income Trust PLC

15 August 2017

 

HENDERSON INTERNATIONAL INCOME TRUST PLC

HENDERSON INVESTMENT FUNDS LIMITED

LEGAL ENTITY IDENTIFIER: 2138006N35XWGK2YUK38

15 August 2017

HENDERSON INTERNATIONAL INCOME TRUST PLC (the "Company")

C Share Conversion Ratio, Admission of Ordinary Shares and Total Voting Rights

Further to its announcement on 18 July 2017, the Directors of the Company are pleased to announce the following information in relation to the Conversion of its C Shares.

Conversion Ratio for C Shares

The net asset values attributable to the Ordinary Shares and the C Shares as at the Calculation Date, being the close of business on 11 August 2017, were 1.5934p per share and 1.0194p per share respectively. The NAVs on the Ordinary shares have been calculated including income and after providing for the third interim dividend payable on 31 August 2017, declared on 18 July 2017 and payable to holders of Ordinary Shares on the register at the close of business on 28 July 2017. The NAVs on the C Shares have been calculated including income and after providing for a dividend, declared on 18 July 2017 and payable on 31 August 2017 to holders of C Shares on the register at the close of business on 11 August 2017.

For the avoidance of doubt, the C shareholders are not entitled to receive the third interim dividend payable to the Ordinary shareholders.

The Conversion Ratio, as calculated in accordance with the Company's prospectus dated 5 April 2017 (the "Prospectus"), is accordingly 0.6398 Ordinary Shares for every one C Share held as at the close of business on the conversion record date of 18 August 2017. On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 639 Ordinary Shares ("New Shares") upon Conversion. Entitlements to New Shares will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.

The New Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares already in issue, including all dividends declared in respect of the Ordinary Shares after the Calculation Date.

Further details of Conversion and the rights attaching to the C Shares are set out in the Prospectus (terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined).

Admission to the Official List and to trading on the London Stock Exchange

On the basis of the Conversion Ratio, applications will be made to the UK Listing Authority for 13,755,700 New Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on its Main Market. It is expected that such admissions will become effective, and that dealings in the New Shares will commence, on 21 August 2017.

The C Shares will be permanently removed from the UKLA's Official List and from trading on the London Stock Exchange with effect from the opening of trading on 21 August 2017.

Expected Timetable

The expected timetable for Conversion is as follows:

Record date for Conversion and C Share register closes	6.00 p.m. on 18 August 2017
Dealings in New Shares commence	8.00 a.m. on 21 August 2017
CREST accounts credited with New Shares in uncertificated form	21 August 2017
Share certificates in respect of New Shares in certificated form dispatched	Week commencing 29 August  2017

Voting Rights and Capital

Effective from 21 August 2017, the Company's share capital will consist of 174,206,306 Ordinary Shares. Accordingly, the figure of 174,206,306 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 FSA's Disclosure and Transparency Rules.

Enquiries

For further information, please contact:

Ben Lofthouse Fund Manager Henderson International Income Trust plc Telephone: [phone]

Sarah Gibbons-Cook Investor Relations & PR Manager, Janus Henderson Investors Telephone: [phone]

James de Sausmarez Director & Head of Investment Trusts Janus Henderson Investors Telephone: [phone]

 

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