Issue of New Shares in connection with HGT Scheme

RNS Number : 2551W

Henderson Intl. Income Trust PLC

25 April 2016

 

HENDERSON INTERNATIONAL INCOME TRUST PLC

HENDERSON INVESTMENT FUNDS LIMITED

25 April 2016

Henderson International Income Trust plc

 

Issue of new shares in connection with recommended proposals for the reconstruction and winding-up of Henderson Global Trust plc

Background

Further to the publication by Henderson International Income Trust Plc (HINT or the Company) of a circular and prospectus in connection with recommended proposals for the reconstruction and winding-up of Henderson Global Trust plc (HGT) on 23 March 2016, the Board of HINT is pleased to announce that HINT will now acquire approximately £95 million of the net assets from HGT in consideration of the issue in aggregate of 75,234,056 New Ordinary Shares.

Conditions

The following conditions in relation to the Proposals have been met:

·     the passing of the resolutions to approve the HGT Scheme at a class meeting of HGT Shareholders and at general meetings of HGT Shareholders and holders of HGT Preference Stock;

·     the passing of the Resolution at the general meeting of the Company;

·     the passing of The Bankers Investment Trust PLC Resolution; and

·     the directors of HGT resolving to proceed with the HGT Scheme.

Ratio

The number of New Ordinary Shares to be issued under the Scheme is determined by reference to the Residual Net Asset Value of a HGT Share of 421.19 pence and the HINT NAV per Share of 126.84 pence as at close of business 20 April 2016 and 22 April 2016 respectively.  HGT Shareholders will receive 3.3206 New Ordinary Shares of HINT for every HGT Share held.

Fractional entitlements to New Ordinary Shares pursuant to the HGT Scheme will not be issued pursuant to the Proposals and entitlements will be rounded down to the nearest whole number.

Admission to Trading

Application has been made to the UK Listing Authority for the New Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the Main Market. Admission and dealings are expected to commence on 26 April 2016.  The New Ordinary shares will rank pari passu with the existing Ordinary Shares of the Company. For the avoidance of doubt HGT Shareholders are not entitled to the dividend declared by the Company on 8 March 2016, payable on 31 May 2016 to shareholders registered on 15 April 2016.

Total Voting Rights

Further to this issue the total number of Ordinary Shares in issue will be 155,480,606. 

The total number of voting rights in the Company will be 155,480,606 in respect of the Ordinary Shares. The above figure (155,480,606) 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, Henderson International Income Trust plc under the FCA's Disclosure and Transparency Rules.

Capitalised terms not otherwise defined in this announcement have the meanings given in the circular published by the Company on 23 March 2016.

For further information please contact:

Paul Fincham/Robert Naylor Corporate Broker Panmure Gordon Telephone: [phone]

Hannah Blackmore Company Secretary Henderson International Income Trust plc Telephone: [phone]

James de Sausmarez Director and Head of Investment Trusts Henderson Global Investors Telephone: [phone]

 

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