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Diverse Inc Trust (DIVI)

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Monday 30 September, 2013

Diverse Inc Trust

Merger Update


THE DIVERSE INCOME TRUST PLC

MERGER UPDATE

The Board refers to the Circular and the Prospectus published by the Company on
30 August 2013 in connection with the reconstruction and winding up of Miton
Income Opportunities Trust plc ("MIOT") and the related issue and admission of
New Ordinary Shares in the Company.

Further to the passing of the resolutions at the Company's general meeting held
on 23 September 2013 and under the terms of the Proposals, the FAVs of the
Company and MIOT were calculated for the purposes of the Scheme as at 5.00 pm
on 25 September 2013. The FAV per Ordinary Share was 73.58p and the FAV per
MIOT Share was 529.49p.

Accordingly, under the terms of the Proposals and conditional upon the
Proposals becoming effective, MIOT Shareholders shall receive 7.1965 New
Ordinary Shares for every existing MIOT Share held. Fractions of New Ordinary
Shares will not be issued and entitlements will be rounded down to the nearest
whole number.

The proposals remain conditional on the passing of a special resolution at the
second general meeting of MIOT, which is being held at 9.30 am on 30 September
2013, and admission of the New Ordinary Shares to listing on the premium
segment of the Official List of the UKLA and to trading on the Main Market of
the London Stock Exchange.

Capitalised terms used in this announcement have the same meaning as in the
Circular.

Contact details:

Miton Group plc:
Gervais Williams  [email protected]  07811 331 824                              
Martin Turner     [email protected]     020 7657 1182                           
Roger Bennett     [email protected]     0118 338 4036               

Cenkos Securities plc:
Dion Di Miceli     [email protected]              020 7397 1921

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