REG-Invesco Perp Sel Tst: Conversion of Securities

Invesco Select TrustAnnouncement

31/10/2019 14:55

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:

   64,328 UK Equity Shares                 
  124,244 Global Equity Income Shares      
   20,999 Balanced Risk Allocation Shares  
     zero Managed Liquidity Shares         

The respective Conversion Ratios were as follows:

-    For every UK Equity Share converted, holders will receive 0.855236
Global Equity Income Shares, 1.229397 Balanced Risk Allocation Shares or
1.705728 Managed Liquidity Shares;

-    For every Global Equity Income Share converted, holders will receive
1.169268 UK Equity Shares, 1.437495 Balanced Risk Allocation Shares or
1.994453 Managed Liquidity Shares;

-    For every Balanced Risk Allocation Share converted, holders will
receive 0.813407 UK Equity Shares, 0.695655 Global Equity Income Shares or
1.387451 Managed Liquidity Shares;

-    For every Managed Liquidity Share converted, holders would receive
0.586260 UK Equity Shares, 0.501391 Global Equity Income Shares or 0.720746
Balanced Risk Allocation Shares.

The Conversion Ratios, which will be effective on 1 November 2019, are based
on the relative net asset values of the Company’s Share classes as at close
of business on 24 October 2019.

Individual Shareholders’ entitlements on conversion on 1 November 2019 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 3 October 2019 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:

  +62,756 UK Equity Shares                 
  -61,021 Global Equity Income Shares      
   +6,067 Balanced Risk Allocation Shares  
   +6,238 Managed Liquidity Shares         
  +14,622 Deferred Shares                  

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

  32,612,465 UK Equity Shares                 
  31,128,213 Global Equity Income Shares      
   5,526,917 Balanced Risk Allocation Shares  
   4,248,359 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:

  127,084 UK Equity Shares                 
   63,223 Global Equity Income Shares      
   27,066 Balanced Risk Allocation Shares  
    6,238 Managed Liquidity Shares         

Dealings in such shares are expected to commence at 8.00 a.m. on 4 November
2019. It is expected that Certificates in respect of the Resulting Shares will
be posted by 15 November 2019.

The Deferred Shares arising on the conversion will be cancelled.

The conversion dates for 2020 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  
 3 February 2020  24 January 2020                                          
 1 May 2020       21 April 2020                                            
 3 August 2020    24 July 2020                                             
 2 November 2020  23 October 2020                                          

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.invesco.co.uk/investmenttrusts and from the Company Secretary.

31 October 2019

Contact:        Paul Griggs    020 3753 1000



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