Final Exercise of Subscription Shares

RNS Number : 1388Z

Polar Cap Gbl Healthcare Growth&IT

03 February 2014

 



GENERAL TEXT AMENDMENT

The following amendment has been made to the 'Final Exercise of Subscription Shares' announcement released on 3 February 2014 at 10:17am under RNS No 1146Z.

In the third paragraph, the number of Subscription Shares remaining unexercised was stated as 2,593,846. The correct figure is 2,593,864.

All other details remain unchanged.

The full amended text is shown below.

POLAR CAPITAL GLOBAL HEALTHCARE GROWTH AND INCOME TRUST PLC ("the Company")

FURTHER RE FINAL EXERCISE OF SUBSCRIPTION SHARES

3 February 2014

The Company announces that it has applied for the listing of 15,206,136 new ordinary shares of 25p each ("Ordinary Shares") on the Official List of the UK Listing Authority and for such shares to be admitted to trading on the London Stock Exchange's Main Market. Such applications have been made following the exercise of the rights represented by 15,206,136 subscription shares of 1p each to subscribe in cash for Ordinary Shares at 100p per share ("Subscription Shares") by 31 January 2014.The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following the issue of new Ordinary Shares described above, the Company's issued share capital consists of 120,056,136 Ordinary Shares, with each share carrying the right to one vote, and 2,593,864 Subscription Shares. The total number of voting rights in the Company is therefore 120,056,136. This figure may be used by shareholders as the denominator for the calculation 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.

Friday, 31 January 2014 was the final exercise date for the Subscription Shares and 2,593,864 Subscription Shares remain unexercised. In accordance with the terms and conditions on which the Subscription Shares were issued, the Company has appointed a final subscription trustee ("Subscription Trustee"). Provided that in the Subscription Trustee's opinion the net proceeds of sale, after deduction of all costs and expenses incurred by such Subscription Trustee, will exceed the costs of exercising the subscription rights, then the Subscription Trustee shall, within the period of 14 days following the Subscription Date (by 14 February 2014), exercise all the Subscription Rights which shall not have been exercised at 100p per share and sell in the market the Ordinary Shares resulting from such exercise. The Subscription Trustee shall distribute pro rata the proceeds of any such sale or acceptance of any such offer less, in either case, such costs of exercising the Subscription Rights and such other costs and expenses to the persons entitled thereto at the risk of such persons within 56 days of the Subscription Date, provided that entitlements of under £5.00 shall be retained for the benefit of the Company. If the Subscription Trustee does not exercise the subscription rights conferred by the outstanding Subscription Shares by 14 February 2014, and the Subscription Trustee's decision will be final and binding on all holders of outstanding Subscription Shares, they will lapse with nil value.

For further information, please contact:

N P Taylor

Company Secretary

Polar Capital Global Healthcare Growth and Income Trust plc

Telephone number 020 7227 2700

 

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