Issue of Equity and Final Exercise of Sub Shares

RNS Number : 4541E

Polar Capital Technology Trust PLC

09 April 2014

 



POLAR CAPITAL TECHNOLOGY TRUST PLC ("the Company")

ISSUE OF ORDINARY SHARES AND FINAL EXERCISE OF SUBSCRIPTION SHARES

9 April 2014

The Company announces that it has allotted and issued 58,652 new ordinary shares of 25p each ("Ordinary Shares") following the receipt of cleared funds for the exercise of subscription shares of 1p each to subscribe in cash for Ordinary Shares at 478.0p per share ("Subscription Shares") on 31 March 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 132,336,159 Ordinary Shares, with each share carrying the right to one vote. The total number of voting rights in the Company is therefore 132,336,159. 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.

21,370,043 Subscription Shares remain unexercised in the hands of the Final Subscription Trustee ("Final Subscription Trustee"). The Final Subscription Trustee has until the close of business on 14 April 2014 to exercise as many as possible of the outstanding Subscription Rights and sell in the market the Ordinary Shares resulting from such exercise.  The Final Subscription Trustee will then distribute pro rata the proceeds of any such sale less any costs in accordance with the Company's articles of association.

The listing of the Subscription Shares was suspended with effect from 7.30am on 1 April 2014, following the passing of the Subscription Date. The listing of the Subscription Shares will be cancelled at 8.00am on 1 May 2014.

For further information, please contact:

N P Taylor

Company Secretary

Polar Capital Technology Trust plc

Telephone Number:  020 7227 2700

Chris Lunn

Cenkos Securities plc (Broker)

Telephone Number: 0207 397 1912

 

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