REG-Invesco Perp Sel Tst: Conversion of Securities

Invesco Select TrustAnnouncement

30/07/2020 13:20

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:

  207,644 UK Equity Shares                 
  397,647 Global Equity Income Shares      
   37,333 Balanced Risk Allocation Shares  
    2,406 Managed Liquidity Shares         

The respective Conversion Ratios were as follows:

-    For every UK Equity Share converted, holders will receive 0.770193
Global Equity Income Shares, 1.023931 Balanced Risk Allocation Shares or
1.398561 Managed Liquidity Shares;

-    For every Global Equity Income Share converted, holders will receive
1.298376 UK Equity Shares, 1.329447 Balanced Risk Allocation Shares or
1.815857 Managed Liquidity Shares;

-    For every Balanced Risk Allocation Share converted, holders will
receive 0.976628 UK Equity Shares, 0.752192 Global Equity Income Shares or
1.365874 Managed Liquidity Shares;

-    For every Managed Liquidity Share converted, holders would receive
0.715021 UK Equity Shares, 0.550704 Global Equity Income Shares or 0.732132
Balanced Risk Allocation Shares.

The Conversion Ratios, which will be effective on 3 August 2020, are based on
the relative net asset values of the Company’s Share classes as at close of
business on 23 July 2020.

Individual Shareholders’ entitlements on conversion on 3 August 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 16 July 2020 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:

  -200,692 UK Equity Shares                 
  -315,682 Global Equity Income Shares      
   +84,642 Balanced Risk Allocation Shares  
  +738,300 Managed Liquidity Shares         
   +26,021 Deferred Shares                  

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

  30,384,249 UK Equity Shares                 
  27,290,118 Global Equity Income Shares      
   5,321,528 Balanced Risk Allocation Shares  
   3,235,332 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:

    6,952 UK Equity Shares                 
   81,965 Global Equity Income Shares      
  121,975 Balanced Risk Allocation Shares  
  740,706 Managed Liquidity Shares         

Dealings in such shares are expected to commence at 8.00 a.m. on 4 August
2020. It is expected that Certificates in respect of the Resulting Shares will
be posted by 17 August 2020.

The Deferred Shares arising on the conversion will be cancelled.

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

The remaining conversion date for 2020 is set out below. Elections for
conversion must be received by close of business ten days prior to the
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  
 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 July 2020

Contact:        Paul Griggs    020 3753 1000



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