REG - Franklin Global Tst - Result of General Meeting and Scheme Entitlements

Franklin Global TrustAnnouncement

27/02/2026 11:45

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RNS Number : 7449U  Franklin Global Trust PLC  27 February 2026

27 February 2026

Franklin Global Trust plc

 

Legal Entity Identifier: 549300RKB85NFVSTBM94

 

Result of Second General Meeting and Scheme Entitlements

 

In connection with the proposals for the scheme of reconstruction and members'
voluntary winding-up of Franklin Global Trust plc (the Company or FRGT)
under section 110 of the Insolvency Act 1986 (the Proposals), the Board is
pleased to announce the result of the Second General Meeting and the Scheme
entitlements.

 

Result of the Second General Meeting

 

The Company announces that the special resolution to place the Company into
members' voluntary liquidation was voted on and approved by Shareholders at
the Second General Meeting held earlier today. Accordingly, Laura Waters and
Steven Sherry (the Liquidators), both of PricewaterhouseCoopers LLP, have been
appointed as joint liquidators of the Company. Details of the number of votes
cast for, against and withheld in respect of the resolution, which was held on
a poll, are set out below and will also be published on the Company's website
https://www.franklinglobaltrust.com/ (https://www.franklinglobaltrust.com/) .

 

The results of the polls were as follows:

 

 RESOLUTION                                                                   VOTES FOR (INCLUDING DISCRETIONARY)  %       VOTES AGAINST  %      VOTES TOTAL  % ISC REPRESENTED BY TOTAL VOTES CAST(1)  VOTES WITHHELD

 To place the Company into members' voluntary liquidation in accordance with  14,013,657                           99.57%  59,936         0.43%  14,073,593   29.28%                                    66,305
 the Scheme and appoint the Liquidators

(1) As a percentage of total voting rights

For the purposes of section 341 of the Companies Act 2006, the votes validly
cast are expressed in the table above as a percentage of the Company's total
voting rights as at 6.00 p.m. on 25 February 2026 (48,072,208), being the
time at which a shareholder had to be registered in the Register of Members in
order to vote at the Second General Meeting.  A vote "withheld" is not a vote
in law and has not been counted as a vote "for" or "against" a resolution.

 

The number of Shares in issue at the date of this announcement is
48,072,208.  Therefore, as at the date of this announcement the number of
voting rights in the Company are 48,072,208.

 

The full text of the Resolutions can be found in the notice of Second General
Meeting contained in the Company's circular to Shareholders dated 21 January
2026 (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 https://www.franklinglobaltrust.com/
(https://www.franklinglobaltrust.com/) .

 

Suspension and Cancellation of Reclassified Shares

 

The Company's Reclassified Shares were suspended from listing on the Official
List of the Financial Conduct Authority and from trading on the London Stock
Exchange at 7.30 a.m. this morning, 27 February 2026, in anticipation of the
Second General Meeting.

 

The Company, through its advisers, will notify the Financial Conduct Authority
and the London Stock Exchange of the Company's intention to cancel the
Company's admission of the Reclassified Shares to listing and trading as soon
as practicable after the Effective Date.

 

Scheme Entitlements

 

As at the Calculation Date the entitlements calculated in accordance with the
terms of the Scheme were as follows:

·      FRGT FAV per Share: 349.865747 pence

·      Rollover Pool FAV per Share: 350.136720 pence

·      Cash Pool FAV per Share: 342.868432 pence

·      IGET FAV per Share: 381.954936 pence

 

Therefore, Shareholders will receive the following cash and/or number of New
IGET Shares.

For Shareholders that are deemed to have elected to receive New IGET Shares:

· each Reclassified Share with "A" rights attached to it will receive
0.916696 New IGET Shares.

Fractional entitlements to New IGET Shares will not be issued under the Scheme
and entitlements will be rounded down to the nearest whole number. No cash
payment shall be made or returned in respect of any fractional entitlements
which will be retained for the benefit of the enlarged IGET.

For Shareholders that elected, or are deemed to have elected, for the Cash
Option:

· each Reclassified Share with "B" rights attached to it will
receive 342.868432 pence in cash.

As noted in the Circular, the Directors have set aside sufficient assets in
the Liquidation Pool to meet all estimated liabilities and contingencies,
including the costs of the winding up of the Company and the costs of
implementing the Scheme. The Directors have also provided in the Liquidation
Pool for a Liquidators' Retention of £100,000 which they, together with the
Liquidators, consider sufficient to meet any unknown or unascertained
liabilities of the Company.

 

The Liquidation Pool will be applied by the Liquidators in discharging all
current and future actual and contingent liabilities of the Company. The
remaining balance of the Liquidation Pool, if any, shall be distributed in
cash by the Liquidators pursuant to the Scheme, to all Shareholders (excluding
Ordinary Shares held in treasury) (in each case being those Shareholders on
the Effective Date in proportion to the respective holdings of Ordinary Shares
on the Effective Date other than Dissenting Shareholders) provided that if any
such amount payable to any Shareholder is less than £5.00, it shall not be
paid to Shareholders but instead shall be retained by the Liquidators for the
benefit of IGET.

 

In accordance with the Circular, Shareholders who held their Shares in
uncertificated form at the Record Date and who have elected (or are deemed to
have elected) for New IGET Shares will receive their New IGET Shares in
uncertificated form on 2 March 2026, although IGET reserves the right to issue
such securities in certificated form. Shareholders who held their Shares in
certificated form at the Record Date and who have elected (or are deemed to
have elected) for New IGET Shares will receive their New IGET Shares in
certificated form. It is expected that share certificates in respect of such
New IGET Shares will be despatched to the Shareholders entitled thereto not
later than 10 Business Days from the Effective Date.

 

Cheques in respect of the cash amounts due to Shareholders who elect for cash
are expected to be despatched to them not later than 10 Business Days from the
Effective Date. It is expected that Shareholders who hold their Shares in
CREST will receive their cash entitlements through CREST not later than 10
Business Days from the Effective Date.

 

Following the appointment of the Liquidators, all further enquiries regarding
the Company should be made to the Liquidators, whose contact details are
below.

 

For further information please contact:

 

Liquidators

Laura
Waters
                        uk_fgtenquiries@pwc.com
Steven Sherry

 

 

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