REG-Invesco Perp Sel Tst: Conversion of Securities

Invesco Select TrustAnnouncement

30/04/2020 13:15

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:

  14,176 UK Equity Shares                 
  21,410 Global Equity Income Shares      
   2,510 Balanced Risk Allocation Shares  
     117 Managed Liquidity Shares         

The respective Conversion Ratios were as follows:

-    For every UK Equity Share converted, holders will receive 0.818370
Global Equity Income Shares, 1.046028 Balanced Risk Allocation Shares or
1.315752 Managed Liquidity Shares;

-    For every Global Equity Income Share converted, holders will receive
1.221942 UK Equity Shares, 1.278185 Balanced Risk Allocation Shares or
1.607773 Managed Liquidity Shares;

-    For every Balanced Risk Allocation Share converted, holders will
receive 0.955997 UK Equity Shares, 0.782359 Global Equity Income Shares or
1.257856 Managed Liquidity Shares;

-    For every Managed Liquidity Share converted, holders would receive
0.760021 UK Equity Shares, 0.621978 Global Equity Income Shares or 0.795004
Balanced Risk Allocation Shares.

The Conversion Ratios, which will be effective on 1 May 2020, are based on the
relative net asset values of the Company’s Share classes as at close of
business on 23 April 2020.

Individual Shareholders’ entitlements on conversion on 1 May 2020 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 15 April 2020 in respect of the UK Equity, Global Equity
Income and Managed Liquidity Shares.

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

   +7,339 UK Equity Shares                 
  -10,434 Global Equity Income Shares      
   +2,304 Balanced Risk Allocation Shares  
   +4,218 Managed Liquidity Shares         
   +2,531 Deferred Shares                  

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

  32,210,941 UK Equity Shares                 
  29,323,800 Global Equity Income Shares      
   5,236,886 Balanced Risk Allocation Shares  
   2,497,032 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:

  21,515 UK Equity Shares                 
  10,976 Global Equity Income Shares      
   4,814 Balanced Risk Allocation Shares  
   4,335 Managed Liquidity Shares         

Dealings in such shares are expected to commence at 8.00 a.m. on 5 May 2020.
It is expected that Certificates in respect of the Resulting Shares will be
posted by 15 May 2020.

The Deferred Shares arising on the conversion will be cancelled.

All as formally approved by the Board on 30 April 2020.

The remaining 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 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.

30 April 2020

Contact:        Paul Griggs    020 3753 1000



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