Six Monthly Tender Offer

RNS Number : 4398Y

Standard Life UK Small.Co's Tst PLC

01 December 2014

 

 Standard Life UK Smaller Companies Trust PLC

Six Monthly Tender Offer

For the Tender Offers undertaken at 30 June 2010 and 31 December 2010 the costs to those shareholders that tendered their ordinary shares were 6.0% and 6.5% respectively of the relevant net asset value.

The average discounts to the diluted net asset value over the last three, six and 12 months have been 5.2%, 4.9% and 2.4% respectively.

 In light of the average discount levels over the last year and the costs of the previous two tender offers the Board intends to exercise its discretion not to conduct a tender offer at 31 December 2014.

It remains the Board's intention to consider a regular tender offer at six monthly intervals and to offer shareholders the opportunity to tender their Ordinary shares where it is in their interests to do so. Accordingly, the next review by the Board will be in six months' time prior to 30 June 2015.

In addition the Board may buy back its shares into treasury through market purchases for the benefit of ongoing shareholders when it believes that it is the long term interests of shareholders. In the last six months the Company has bought back 269,172 ordinary shares into treasury.

All enquiries:

Gordon Humphries

Standard Life Investments

0131 245 2735

 

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