REG-Invesco Perp Sel Tst: Conversion of Securities

Invesco Select TrustAnnouncement

30/07/2018 16:10

INVESCO PERPETUAL SELECT TRUST PLC

LEI: 549300JZQ39WJPD7U596

Headline:       Conversion of Shares

The Board of Invesco Perpetual Select Trust plc (the ‘Company’) announces
that valid Conversion Notices have been received in respect of:

  426,798 UK Equity Shares                 
    6,397 Global Equity Income Shares      
  114,918 Balanced Risk Allocation Shares  
   58,499 Managed Liquidity Shares         

The respective Conversion Ratios were as follows:

-    For every UK Equity Share converted, holders will receive 0.879912
Global Equity Income Shares, 1.334655 Balanced Risk Allocation Shares or
1.805554 Managed Liquidity Shares;

-    For every Global Equity Income Share converted, holders will receive
1.136478 UK Equity Shares, 1.516805 Balanced Risk Allocation Shares or
2.051972 Managed Liquidity Shares;

-    For every Balanced Risk Allocation Share converted, holders will
receive 0.749258 UK Equity Shares, 0.659280 Global Equity Income Shares or
1.352825 Managed Liquidity Shares;

-    For every Managed Liquidity Share converted, holders will receive
0.553847 UK Equity Shares, 0.487336 Global Equity Income Shares or 0.739194
Balanced Risk Allocation Shares.

The Conversion Ratios, which will be effective on 1 August 2018, are based on
the relative net asset values of the Company’s Share classes as at close of
business on 26 July 2018.

Individual Shareholders’ entitlements on conversion on 1 August 2018 will be
rounded down to the nearest whole number of Shares. Fractional entitlements
will be aggregated and sold in the market. The Shares arising or allotted
pursuant to the conversion will rank pari passu with the existing Shares of
the relevant class and, for the avoidance of doubt, will not rank for the
dividends declared on 18 July 2018 in respect of the UK Equity and Global
Equity Income Shares.

The net changes to the number of shares outstanding following the conversion
and allotments are as follows:

  -419,528 UK Equity Shares                 
  +440,471 Global Equity Income Shares      
  -114,918 Balanced Risk Allocation Shares  
    +9,109 Managed Liquidity Shares         
  +103,378 Deferred Shares                  

Following the conversion, the total number of listed Shares in issue
(excluding shares held in treasury) will be:

  35,117,443 UK Equity Shares                 
  33,196,690 Global Equity Income Shares      
   6,114,974 Balanced Risk Allocation Shares  
   4,709,817 Managed Liquidity Shares         

The Company has applied for the following numbers of Shares arising or
allotted pursuant to conversion to be admitted to the Official List and to
trading on the London Stock Exchange:

    7,270 UK Equity Shares                 
  446,868 Global Equity Income Shares      
     zero Balanced Risk Allocation Shares  
   67,608 Managed Liquidity Shares         

Dealings in such shares are expected to commence at 8.00 a.m. on 2 August
2018. It is expected that Certificates in respect of the Resulting Shares will
be posted by 10 August 2018.

The Deferred Shares arising on the conversion will be cancelled.

The remaining conversion date for 2018 and those for 2019 are set out below.
Elections for conversion must be received by close of business ten days prior
to the respective conversion date. Where that day is not a business day,
elections by way of CREST must be transmitted and properly authenticated by
6.00pm on the last preceding business day. Written elections will be accepted
if received by the first post on the following business day.

 Conversion Date  Date by which elections for conversion must be received  
 1 November 2018  22 October 2018                                          
 1 February 2019  22 January 2019                                          
 1 May 2019       21 April 2019                                            
 1 August 2019    22 July 2019                                             
 1 November 2019  22 October 2019                                          

Instructions on how to convert Shares on any conversion date are available on
the web pages of all the share classes on the Investment Manager’s website:
www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary.

30 July 2018

Contact:        Angus Pottinger        020 3753 1000



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