Information  X 
Enter a valid email address

Chelverton Small Div (SDV)

  Print      Mail a friend

Wednesday 24 January, 2018

Chelverton Small Div

Correction : Conversion of C Shares

THIS RELEASE REPLACES THE ANNOUNCEMENT MADE BY THE COMPANY ON TUESDAY, JANUARY 23, 2018 15:30 and WEDNESDAY, JANUARY 24, 2018 10:47

The Company's announcement of 23 January 2018 stated the C Shares would be cancelled with effect from 8.00am on 26 January 2018 and that dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 26 January 2018. These dates have both been changed to 29 January. Additionally, the Expected timetable stated that dealings in the C Shares would cease as at 4:30pm on 25 January 2018 and the Record date for conversion and C share register closing was close of business on 25 January 2018 – these dates have both been changed to 26 January 2018. The amended announcement is shown in full below and all other details in the announcement remain unchanged.

Chelverton Small Companies Dividend Trust PLC

LEI: 213800DAF47EJ2HT4P78

Conversion of C Shares

Chelverton Small Companies Dividend Trust PLC (“SDV” or the “Company”) announces the Conversion Ratio to convert its entire issued C Share Capital (5,500,000 C Shares) into new Ordinary Shares.

The net asset values attributable to the Ordinary Shares and the C Shares as at the Calculation Date, being the close of business on 19 January 2018 were 262.93 pence per share and 94.79 pence per share respectively.

The Conversion Ratio as calculated in accordance with the Company’s prospectus dated 24 November 2017 is declared as 0.36051421 Ordinary Shares in respect of each C Share. Entitlements to Ordinary Shares will be rounded down to the nearest whole number.

Admission and dealings

The Company confirms that application has been made to the UK Listing Authority and the London Stock Exchange for 1,982,828 Ordinary Shares of 25 pence nominal value. Following the admission of the new Ordinary shares, the Company’s issued share capital will comprise 19,757,828 Ordinary Shares and this figure may be used by shareholders as the denominator for the calculations 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The C Shares will be cancelled with effect from 8.00 a.m. on 29 January 2018. Dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 29 January 2018. It is anticipated that CREST accounts will be credited (where applicable) on the same day. New share certificates in respect of the Ordinary Shares will be issued as soon as practicable following admission.

Terms used and not defined in this announcement bear the meaning given to them in the Prospectus dated 24 November 2017.

Expected Timetable

Dealings cease in C Shares 4:30pm on 26 January 2018
Record date for conversion and C share register closes Close of business on 26 January 2018
Dealings in new Ordinary Shares commence 8.00 a.m. on 29 January 2018

For further information please contact:

Chelverton Small Companies Dividend Trust PLC
William van Heesewijk
Chelverton Asset Management
+44 20 7222 8989

Stockdale Securities Limited
Robert Finlay / Owen Matthews
+44 20 7601 6115


a d v e r t i s e m e n t