Invesco Perpetual UK Smaller Companies Investment Trust plc
Announcement Regarding the Future of the Company
The Board of Invesco Perpetual UK Smaller Companies plc today announces that
the Company intends to offer shareholders a choice of options at a fixed date
in the future.
On or around the Company's AGM in 2017, the Board will make available options
for shareholders which may include one or more of a continuation of their
existing investment, a rollover into a similar or other investment vehicle and/
or the provision of a cash exit at a price close to NAV. This commitment will
be reflected in amendments to the Company's Articles, shareholders' agreement
to which will be sought at the Company's 2013 AGM, together with consent to
other changes that will allow it, for example, to take advantage of recent tax
legislation changes for investment trusts that became effective from 6th April
2012.
The Managers recognise that investment sectors go in and out of fashion and
they are, therefore, supportive of this initiative by the Board. However they
wish to assure shareholders that they will continue to use their very best
endeavours to achieve above-average performance from a well-diversified
portfolio of quality smaller companies and thereby earn the right from
shareholders for a continuation of this Trust.
One of the benefits the Board hopes to achieve, in time, by this initiative is
a permanent narrowing in the discount to NAV at which the shares trade. The
Board will retain the right to buy back shares on an ad hoc basis.
Contacts:
Invesco Perpetual: Andrew Watkins 020 7065 4023
JPM Cazenove: William Simmonds 020 7155 4579
25 May 2012
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.