REG-The Diverse Income Trust Plc: Update on the Future of the Company

Diverse Income TrustAnnouncement

25/02/2026 07:02

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

 

This announcement and the information contained in it are not for release,
publication or distribution, directly or indirectly, in whole or in part, in
or into, the United States of America (including its territories and
possessions, any state of the United States and the District of Columbia),
Australia, Canada, Japan, New Zealand, the Republic of South Africa, in any
member state of the EEA or in any other jurisdiction in which the same would
be unlawful.

 

25 February 2026

 

The Diverse Income Trust plc

("DIVI" or the "Company")

Update on the Future of the Company

 

As announced on 13 February 2026 in the Company's half year results for the
period to 30 November 2025, the Board has been considering a range of
alternative options to limit its discount, not least given the impact of the
existing annual 100% redemption facility, with significant redemptions over
the past three years resulting in the size of the Company reducing
substantially.

The options considered by the Board included replacing the annual redemption
facility with an active share buyback policy, coupled with regular
opportunities for shareholders to vote on whether they wish the Company to
continue, or offering shareholders the opportunity to switch to an open-ended
fund managed according to a similar strategy by the same investment team.

Having consulted with major institutional shareholders, the Board has decided
to offer shareholders the option to roll over their investment into shares in
the Premier Miton UK Multi Cap Income Fund (a sub-fund of Premier Miton
Investment Funds 3, an FCA authorised open-ended investment company) with
assets as at the end of January 2026 of approximately £337 million (the
"Rollover Option"), as well as offering shareholders a cash exit option for up
to 100 per cent of their shareholding in DIVI. This proposal follows
shareholder feedback in support of the investment manager and will allow
shareholders to retain exposure to a similar strategy managed by the same
investment team. The Rollover Option is expected to be the default option for
eligible shareholders.

The transaction is expected to be effected as a                    scheme of
reconstruction under section 110 of the Insolvency Act 1986 with the voluntary
winding-up of the Company (the "Scheme").

The Board is pleased to announce that it has agreed non-binding heads of terms
for the Scheme with Premier Portfolio Managers Limited ("PPM"), the
Alternative Investment Fund Manager to the Company and Authorised Corporate
Director of Premier Miton Investment Funds 3.

Further information about Premier Miton UK Multi Cap Income Fund can be found
on Premier Miton's website:
https://www.premiermiton.com/funds/premier-miton-uk-multi-cap-income-fund/.

It is expected that the Scheme will take effect around the end of the second
quarter of 2026, and will be subject to shareholder approval                  
 and HMRC tax clearance. A circular and notice of general meetings setting out
the full details of the Scheme will be sent to Shareholders in due course.

The City Code on Takeovers and Mergers is not expected to apply to the Scheme.

 

Andrew Bell, Chair, commented:

"The Board retains a high degree of confidence in Gervais Williams and Martin
Turner's ability to manage UK small and mid-cap stocks in a strategy which
remains attractive to many shareholders. However, the Board acknowledges that
the size of the Company has reduced substantially following a period of high
redemption requests and is therefore proposing the Scheme, which will provide
shareholders with an opportunity to retain exposure to a similar strategy with
the same managers through the Rollover Option."

 

 

Enquiries

 

 The Diverse Income Trust plc   Andrew Bell, Chair                       Contact via Panmure Liberum Limited  
                                                                                                              
 Premier Miton Group plc   Gervais Williams, Martin Turner, Claire Long  01483 306090                         
                                                                                                              
 Panmure Liberum Limited   Alex Collins, Tom Scrivens, Ashwin Kohli      020 3100 2000                        

 

LEI:                                2138005QFXYHJM551U45

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014, as it forms part of UK domestic law ("MAR"). Upon
publication of this announcement, the inside information is now considered to
be in the public domain for the purposes of MAR. The person responsible for
arranging the release of this announcement on behalf of the Company is MUFG
Corporate Governance Limited.



Copyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved