Subscription Shares Final Conversion Opportunity

RNS Number : 5752B

Henderson Opportunities Trust PLC

05 March 2014

 



HENDERSON GLOBAL INVESTORS

HENDERSON OPPORTUNITIES TRUST PLC

5 March 2014

HENDERSON OPPORTUNITIES TRUST PLC

 

SUBSCRIPTION SHARES

FINAL CONVERSION OPPORTUNITY

Henderson Opportunities Trust plc (the "Company") would like to remind holders of the Subscription Shares of 1p each in the Company (the "Subscription Shares") that they have the right (but not the obligation) to convert Subscription Shares into Ordinary Shares of 25p each in the Company ("Ordinary Shares"). Each Subscription Share confers a right, exercisable by notice to the Company in the 30 days preceding the Annual General Meeting ("AGM") in any of the years 2009 to 2014 (inclusive) and upon payment of the conversion price, to convert on the date of the relevant AGM into one Ordinary Share in the Company. The Conversion Price is 936p per Ordinary Share.

This is the final year in which the Subscription Shares can be converted into Ordinary Shares. Therefore, the final conversion date for Subscription Shares currently in issue is 29 April 2014, being the date of the Company's 2014 AGM. Subscription Shareholders must notify the Company's Registrars of their intention to convert their shares in the manner prescribed in the Subscription Share Notice which is being posted to Subscription Shareholders with the Company's Report and Financial Statements on or around 10 March 2014, in the 30 days preceding the 2014 AGM. Notification must be made by no later than 2.30pm on 28 April 2014.

Subscription Shares which remain unexercised after the date of the 2014 AGM will cease to have any further rights. Accordingly, and subject to the necessary changes to the Company's Articles of Association which are to be proposed at the 2014 AGM, being approved by the Company's Shareholders, the Board of Directors intends to appoint a Trustee over the outstanding Subscription Shares who will have the ability to exercise them and arrange for the sale of the resulting Ordinary Shares in the market. The Trustee will take into consideration whether the net proceeds of sale after deducting all the costs and expenses of the sale would exceed the costs of exercise of such rights. Entitlements of under £5.00 shall be retained for the benefit of the Company. Further details will be available to Shareholders with the Company's Report and Financial Statements which will be posted on or around 10 March 2014.

- ENDS -

 For further information please contact:

James Henderson

Portfolio Manager, Henderson Opportunities Trust plc

Telephone: [phone]

James de Sausmarez

Director and Head of Investment Trusts,

Henderson Global Investors                                                  

Telephone: [phone] 

William Simmonds

Managing Director

JP Morgan Cazenove

Telephone: [phone]

 

END

 

 

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