Edison issues flash on Henderson EuroTrust (HNE): Proposed merger with Henderson European Focus Trust

Edison Investment Research Limited Edison issues flash on Henderson EuroTrust (HNE): Proposed merger with Henderson European Focus Trust 22-March-2024 / 16:15 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 22 March 2024 Edison issues flash on Henderson EuroTrust (HNE): Proposed merger with Henderson European Focus Trust On 14 March, the boards of Henderson European Focus Trust (HEFT) and Henderson EuroTrust (HNE) announced the proposed merger of the two companies to form Henderson European Trust. The resulting enlarged fund will be managed by Janus Henderson Investors’ (JHI’s) European equities team. There will be two co-managers, Tom O’Hara (currently co-lead manager of HEFT) and Jamie Ross (currently lead manager of HNE). While each co-manager has their own expertise, they share a fundamental investment philosophy and are expected to contribute their best ideas to the fund. If successful, the merger is expected to be completed by end June 2024. There will be two dividend payments a year; payments are expected to normalise at the end of FY25 (30 September). To manage the discount or premium, the combined trust will introduce a five-year conditional performance-related tender offer and will use share repurchases and issuance, where appropriate, subject to prevailing market conditions. HEFT’s longer-term structural debt (up to €35m over 25/30 years at an attractive weighted average cost of 1.57%) and short-term gearing will continue to be employed. The board of the combined company will include seven directors from both HEFT and HNE, reducing to five over the next two years.   Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Mel Jenner [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn www.linkedin.com/company/edison-group-/ Twitter  www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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1865709  22-March-2024