REG-Invesco Select Trust Plc: Updated Results of the Tender Offers

Invesco Select TrustAnnouncement

15/04/2024 17:30

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND AND THE REPUBLIC
OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MAY RESULT IN THE
CONTRAVENTION OF ANY REGISTRATION OR OTHER LEGAL REQUIREMENT OF SUCH
JURISDICTION

 

15 April 2024

 

Invesco Select Trust plc

Updated Results of the Tender Offers

 

The Board of Invesco Select Trust plc (the "Company") is pleased to announce
the results of the updated Tender Offer elections following the adjournment of
the class meetings of the UK Equity and Managed Liquidity share classes as
announced on the 28 March 2024. The adjourned class meetings of the UK Equity
and Managed Liquidity share classes will be held on 16 April 2024 (the
"Adjourned Class Meetings") and, accordingly, the Record Date for the Tender
Offers for those share classes was 6.00 p.m. on 12 April 2024.  The Record
Date for the Tender Offer on the Balanced Risk Share Class, whose class
meeting was not adjourned, remained at 6.00 p.m. on 25 March 2024.

The Board announces the following number of Shares in each Tendering Share
Class were validly tendered:

 UK Equity Income Share Class   19,592,195  
 Balanced Risk Share Class      714,610     
 Managed Liquidity Share Class  417,453     

 

As stated within the Circular, UK Equity shareholders were entitled to tender
up to 15 per cent. of their UK Equity Shares (the "Basic Entitlement"), they
may also tender additional Shares but any such excess above the Basic
Entitlement will only be satisfied, on a pro rata basis, to the extent that
other UK Equity Shareholders tender less than their aggregate Basic
Entitlement. Shareholders of the Managed Liquidity Share Class were entitled
to tender some or all of their Shares.

Accordingly, the Tender Offer on the UK Equity Share Class was oversubscribed.
The Basic Entitlement of all UK Equity Shareholders who have validly tendered
their Shares will be accepted in full and excess tenders will be satisfied to
the extent of approximately 29.87 per cent. of the excess Shares tendered. 
Consequently, 9,985,591 UK Equity Income Shares have been accepted.

The repurchase of Shares pursuant to the Tender Offers is contingent on the
passing of various resolutions at the Company's Adjourned Class Meetings to be
held on 16 April 2024 and a further announcement will follow the conclusion of
those meetings.

Defined terms used in this announcement have the meanings given in the
circular published by the Company on 15 February 2024, unless the context
otherwise requires.

 

Enquiries:

 Invesco Asset Management Limited   +44 (0) 20 7543 3559  
 James Poole, Company Secretary                           
                                                          
 Invesco Fund Managers Limited      +44 (0)20 7543 3500   
 Will Ellis                                               
 John Armstrong-Denby                                     
                                                          
 Winterflood Securities Limited     +44 (0) 20 3100 0000  
 Neil Morgan                                              
 Darren Willis                                            
                                                          
 Cavendish Capital Markets Limited  +44 (0) 20 7397 8900  
 James King                                               
 Will Talkington                                          

 



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