REG - European Assets Tst - Results of Elections

European Assets TrustAnnouncement

13/10/2025 10:00

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RNS Number : 1001D  European Assets Trust PLC  13 October 2025

13 October 2025

Legal Entity Identifier:  213800N61H8P3Z4I8726

European Assets Trust plc ("EAT" or the "Company")

Results of Elections

 

In connection with the recommended proposals for the combination of the
Company with The European Smaller Companies Trust PLC ("ESCT") and voluntary
winding-up of the Company and further to the Company's announcement on 3
October 2025 regarding the results of the First General Meeting, the Board
announces the following Cash Option elections in accordance with the terms of
the Scheme:

·    Cash Option: 109,241,263 Ordinary Shares / 30.3 per cent. of issued
Ordinary Shares

The Cash Option, which is limited to 15 per cent. of the Ordinary Shares in
issue, less treasury shares, was therefore oversubscribed. Accordingly, the
Basic Entitlement of all Shareholders who have validly elected or deemed to
have elected for the Cash Option will be accepted in full and Excess
Applications for the Cash Option will be scaled back into New ESCT Shares on a
pro rata basis. Excess Applications will be satisfied to the extent of
approximately 23.5001 per cent. of the valid Excess Applications made.

In accordance with the Scheme, eligible Shareholders that made no Election
have been deemed to have elected for the Rollover Option.

Accordingly, after scaling back Excess Applications, 85 per cent. of the
Company's Ordinary Shares will rollover into New ESCT Shares, with the balance
receiving the Cash Option. Therefore, the Ordinary Shares will be reclassified
as follows:

·    306,058,888 Ordinary Shares with "A" rights, being the right to
receive New ESCT Shares; and

·    54,010,391 Ordinary Shares with "B" rights, being the right to
receive cash.

The Company has sought approval from the FCA and the London Stock Exchange for
the reclassification of Ordinary Shares for listing purposes effective from
8.00 a.m. tomorrow. The listing of, and dealings in, the Reclassified Shares
are expected to be suspended at 7.30 a.m. on 15 October 2025.

A further announcement is expected to be made on 15 October 2025 following the
second general meeting with the results of the meeting and details of the
entitlements for the relevant FAVs per share and Conversion Ratio under the
Scheme.

Unless otherwise defined, all capitalised terms used but not defined in this
announcement shall have the meaning as given to them in the Circular dated 9
September 2025 (the "Circular").

The Circular is available for viewing at the National Storage Mechanism which
can be located at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)   and on the
Company's website at www.europeanassets.co.uk
(http://www.europeanassets.co.uk)

 

For more information please use the contact details below.

 

European Assets Trust PLC

Contact via Panmure Liberum Limited

 

Panmure Liberum Limited

Alex Collins / Ashwin Kohli (Corporate Advisory)

Tom Scrivens (Corporate Broking)

+44 (0)20 3100 2000

 

Corporate Secretary to European Assets Trust PLC

Columbia Threadneedle Investment Business Limited

+44 (0)131 573 8300

 

 

 

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