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Diverse Inc Tst (DIVI)

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Thursday 07 April, 2011

Diverse Inc Tst

Publication of Prospectus


For immediate release on 7 April 2011

This announcement is an advertisement and not a prospectus. Investors should
not subscribe for or purchase any transferable securities referred to in this
announcement except on the basis of information in the prospectus (the
"Prospectus") published by the Company today in connection with the admission
of its shares to the premium segment of the Official List of the Financial
Services Authority and to trading on the London Stock Exchange's main market
for listed securities.

The Diverse Income Trust plc

Publication of prospectus and placing and offer for subscription open

The Diverse Income Trust plc (the "Company") announces the publication of its
prospectus today in relation to the Company's proposed admission of its shares
to the premium segment of the Official List of the UK Listing Authority and to
trading on the London Stock Exchange ("Admission"). Admission is scheduled to
take place on or around 28 April 2011.

The Company, a closed ended investment trust domiciled in the United Kingdom,
is seeking to raise up to £60 million worth of shares in aggregate, issued as
sterling denominated shares, through a placing and offer for subscription at 50
pence per share. In the event that the issue is over-subscribed the Company may
increase the size of the issue to up to £100 million.

The Company's investment objective is to provide Shareholders with an
attractive level of dividends coupled with capital growth over the long term.
It will invest primarily in quoted or traded UK companies with a wide range of
market capitalisations but a long-term bias toward small and mid cap equities.
It may also invest in large cap companies, including FTSE 100 constituents,
where it is believed that this may increase shareholder value.

Portfolio risk will be mitigated by investing in a diversified spread of
investments. The portfolio is expected to be made up of 80 to 120 investments,
most of which will represent no more than 1.5 per cent. of the value of the
portfolio as at the time of acquisition.

The Company intends to pay dividends on a quarterly basis, with the first
interim dividend to be declared in September 2011 to be paid in November 2011.
In respect of the period to which the first four quarterly dividends will
relate, this being from Admission to 31 May 2012, the Company will target an
annualised dividend yield of 4 per cent. Potential investors should note that
the targeted annualised dividend is a target only and not a profit forecast.

The Company will provide shareholders with an annual redemption facility.

It is expected that the Company will be included in the AIC UK Growth & Income
sector.

The Directors of the Company, all of whom are non-executive, are Michael Wrobel
(Chairman), Paul Craig, Lucinda Riches and Jane Tufnell.

The Company's manager is Midas Capital Partners Limited (the "Manager"), a
subsidiary company of MAM Funds plc. Gervais Williams, the Managing Director of
MAM Funds plc, will be the lead manager of the Company's investment portfolio.
Gervais has been an equity portfolio manager since 1985, his career including
17 years with Gartmore Group Ltd where he was head of UK Small Companies
investing in UK smaller companies and Irish equities.

Gervais Williams, Managing Director at MAM Funds plc, commented:

"Stock specific risk in the top equity income funds in the market at present is
staggering. Almost 50% of the FTSE All Share Index dividend in Q4 2010 was made
up of just 6 FTSE stocks. Dividend diversification is a must, which is why this
fund will invest across the entire All Cap space and look to hold no more than
1 - 1.5% of any stock. The current opportunity in the small and mid-cap market
is extremely exciting. There are plenty of small quoted companies that are
profitable operations generating good cash flow with strong balance sheets,
many with net cash positions. Some of these companies do not currently pay
dividends but could easily afford to do so, and I believe they soon will. This
could give investors exposure to good and growing income despite a flat UK
economy - the Holy Grail in the current environment."

The Company has appointed Cenkos Securities plc ("Cenkos") as its listing
sponsor and sole placing agent. Shares will be available to potential investors
under the offer for subscription, which closes at 1pm on 19 April 2011, and an
institutional placing, which closes at 3pm on 19 April 2011.

The Prospectus relating to the placing and offer for subscription of ordinary
shares has been approved by the UK Listing Authority and will shortly be
available on the Company's website www.mamfundsplc.com/DIT/index.asp.

The Prospectus has been submitted to the National Storage Mechanism and will
shortly be available from the website www.Hemscott.com/nsm.do.

Copies of the Prospectus will also be available from the offices of Cenkos
Securities at 6.7.8 Tokenhouse Yard, London, EC2R 7AS (contact details below)
and from the Company's registered office at Beaufort House, 51 New North Road,
Exeter, EX4 4EP.

                                    -Ends-                                     

For further information please contact:

MAM Funds plc

Gervais Williams    [email protected] +44 (0)78 1133 1824


Cenkos Securities plc

Chris Lunn          [email protected]     +44 (0)20 7397 1912

Andrew Davies       [email protected]   +44 (0)20 7397 1914

Dion Di Miceli      [email protected] +44 (0)20 7397 1921


MHP Communications

Email:              [email protected]

Gay Collins         [email protected] +44 (0)20 3128 8582

                                         +44 (0)7798 626282

Laura Batty         [email protected] +44 (0)20 3128 8520


This communication is only being made by The Diverse Income Trust plc to
persons who receive it in the course of a business which involves the
dissemination through a publication of information concerning controlled
activities as defined in the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005. This communication must not be provided to any other
person otherwise than in compliance with section 21 of the Financial Services
and Markets Act 2000 (as amended).

No representation or warranty, express or implied, is made or given by or on
behalf of Cenkos, MAM Funds plc, Midas Capital Partners Limited or The Diverse
Income Trust plc or any of their respective directors, partners, officers,
employees, agents or advisers or any other person (whether or not referred to
in this announcement) as to the accuracy, completeness or fairness of the
information contained herein and no responsibility or liability is accepted by
any of them for any such information or opinions.

No offer or invitation to subscribe for or acquire shares in The Diverse Income
Trust plc is being made by or in connection with this announcement.

Cenkos, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting as sponsor to The Diverse Income Trust
plc in relation to Admission and will not be responsible to any other person
for providing the protections afforded to clients of Cenkos or for advising any
other person on the contents of this announcement or any matter, transaction or
arrangement referred to herein.

This announcement is not for publication, distribution or release in, or into,
directly or indirectly, the United States, Canada, Australia, Japan or any
other jurisdiction in which such publication, distribution or release would be
contrary to applicable law or regulation, or to US persons. The information
contained herein does not constitute an offer of securities for sale including
in the United States, Australia, Canada Japan or any other jurisdiction in
which such offer would be contrary to applicable law or regulation, or to US
Persons.


                                                                                                                                                                                                                                              

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