Result of Offer for Subscription

RNS Number : 6033Y

F&C Managed Portfolio Trust PLC

02 March 2012

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

F&C MANAGED PORTFOLIO TRUST PLC

RIS ANNOUNCEMENT

2 MARCH 2012

RESULT OF OFFER FOR SUBSCRIPTION AND OFFER PRICE

On 16 January 2012, F&C Managed Portfolio Trust plc (the "Company") announced the offer for subscription of up to 20 million Income Shares and up to 20 million Growth Shares in the Company (together, the "Shares").

The Board of the Company is very pleased to announce that applications have been received for 4,807,744 Income Shares and 7,844,276 Growth Shares in aggregate under the offer for subscription. Applications have been satisfied in full raising gross proceeds of approximately £13 million.

The Board further announces that the Offer Price of the Income Shares and Growth Shares to be issued by the Company is 99.87p per Income Share and 103.84p per Growth Share.  This equals a 2.5 per cent. premium to the published (unaudited) NAV per Income Share and Growth Share of 97.43p and 101.31p respectively (rounded to two decimal places) at close of business on 29 February 2012 and is in accordance with the terms of the Offer for Subscription.

Application has been made to the UK Listing Authority for admission of 4,807,744 Income Shares and 7,844,276 Growth Shares to the Official List and for such Shares to be admitted to trading on the London Stock Exchange's main market for listed securities. The offer for subscription is conditional upon, inter alia, the admission of the Shares to trading on the Main Market of the London Stock Exchange and to the Official List of the UK Listing Authority ("Admission").  It is expected that Admission will become effective and dealings in the Shares will commence on the London Stock Exchange at 8.00 a.m. on 7 March 2012.   

The Income Shares will trade under the ticker FMPI and the Growth Shares will trade under the ticker FMPG.

All enquiries:

F&C Investment Business Limited                                     Tel: [phone]
Ian Ridge

 

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