REG - Henderson Eurotrust - Results of Scheme Elections

Henderson EurotrustAnnouncement

28/06/2024 10:15

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RNS Number : 3586U  Henderson Eurotrust PLC  28 June 2024

JANUS HENDERSON FUND MANAGEMENT UK LIMITED

 

HENDERSON EUROTRUST PLC

 

LEGAL ENTITY IDENTIFIER:  213800DAFFNXRBWOEF12

 

28 June 2024

 

HENDERSON EUROTRUST PLC

 

Results of Scheme Elections

 

In connection with the proposals for the merger of interests of Henderson
EuroTrust plc (the "Company") with Henderson European Focus Trust  plc
("HEFT") to form Henderson European Trust plc (the "Combined Trust") by means
of a scheme of reconstruction and winding up of the Company under section 110
of the Insolvency Act 1986 (the "Scheme") and the issue of New HEFT Shares to
Shareholders who are deemed to have elected to roll over their investment into
the Combined Trust, the Board announces the following Elections in connection
with the Scheme:

 

•           Rollover Option: 111,223,723 Shares / 52.50 per cent.
of issued Shares

•           Cash Option: 100,631,687 Shares / 47.50 per cent. of
issued Shares

 

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

 

The Cash Option is limited in aggregate to 15 per cent. of the issued Shares.
Shareholders were entitled to elect for the Cash Option in respect of more
than 15 per cent. of their individual holdings of Shares (the "Basic
Entitlement", such excess amount being an "Excess Application").

 

In light of the above elections, the Basic Entitlement of all Shareholders
electing for the Cash Option will be satisfied in full and Excess Applications
will be satisfied to the extent of approximately 13.05 per cent. of each
Excess Application.

 

As an illustration, Shareholders that elected in full for the Cash Option will
receive approximately 26.09 per cent. of their individual holding in Shares
with rights to the Cash Option due to their Excess Application being partially
satisfied.

 

The Shares will be reclassified as follows:

 

•           180,077,099 Shares with "A" rights, being the right to
receive New HEFT Shares; and

•           31,778,311 Shares with "B" rights, being the right to
receive cash.

 

Applications have been made to the FCA and to the London Stock Exchange for
the Shares to be reclassified for listing purposes with effect from 8.00 a.m.
on 3 July 2024. The listing of, and dealings in, the Company's Reclassified
Shares are subsequently expected to be suspended at 7.30 a.m. on 4 July 2024.

 

Defined terms used in this announcement have the meanings given in the
Company's circular to Shareholders dated 20 May 2024 (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.hendersoneurotrust.com (http://www.hendersoneurotrust.com) .

 

For further information please contact:

 

 Henderson EuroTrust plc

 Nicola Ralston                      Contact via Company Secretary

 Chairman                            020 7818 4082

 Janus Henderson Investors, Manager

 Dan Howe                            020 7818 4458

 Head of Investment Trusts

 Oliver Packard                      0207 818 2690

 Head of Investment Trust Sales

 Harriet Hall                        020 7818 2919

 PR Director, Investment Trusts

 Deutsche Numis, Corporate Broker

 Nathan Brown                        020 7260 1426

 Matt Goss                           020 7260 1642

 

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.

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