REG - Murray Intnl Trust - Proposed share Sub division

Murray International TrustAnnouncement

03/03/2023 07:16

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RNS Number : 7407R  Murray International Trust PLC  03 March 2023

 

Murray International Trust PLC

 

Legal Entity Identifier (LEI):  549300BP77JO5Y8LM553

 

 

Proposed Share Sub-division

 

3 March 2023

 

As announced in the annual results published today, Murray International Trust
PLC (the "Company") announces that shareholders will be requested at the
Annual General Meeting to be held on 21 April 2023 (the "AGM") to approve the
sub-division (the "Sub-division") of the ordinary shares of 25 pence each
(each an "Existing Ordinary Share") into five new ordinary shares of 5 pence
each (each a "New Ordinary Share"). The Sub-division is intended to assist
monthly savers and those who reinvest their dividends or are looking to invest
smaller amounts, and to improve the liquidity in and marketability of the
Company's shares.

The Sub-division is conditional on approval by shareholders at the AGM as well
as the New Ordinary Shares being admitted to the premium listing segment of
the Official List of the Financial Conduct Authority and to trading on the
London Stock Exchange's main market for listed securities ("Admission").
Admission applications will be made and it is expected that Admission will
become effective, and that dealings in the new Ordinary shares will commence,
at 8.00 a.m. on 24 April 2023, at which time the Sub-division will become
effective. The last day of trading in the Existing Ordinary Shares is expected
to be 21 April 2023 and the record date for the Sub-division is 6.00 p.m. on
that date (the "Record Date").

If approved by Shareholders, the Sub-division will result in Shareholders
receiving five New Ordinary Shares in exchange for each Existing Ordinary
Share held at the Record Date. CREST accounts are expected to be credited with
New Ordinary Shares on 24 April 2023 and share certificates in respect of the
New Ordinary Shares are expected to be posted to shareholders no later than 5
May 2023.

The New Ordinary Shares will have a new ISIN and SEDOL as follows:

New ISIN: GB00BQZCCB79

New SEDOL: BQZCCB7

The ticker for the New Ordinary Shares will remain the same as the ticker for
the Existing Ordinary Shares (MYI). The New Ordinary Shares will rank equally
with each other and will carry the same rights and be subject to the same
restrictions (save as to nominal value) as the Existing Ordinary Shares.

As at 2 March 2023 (being the latest practicable date prior to the publication
of this announcement) the Company has 129,412,003 Ordinary Shares in issue
(including 4,399,110 held in Treasury). Immediately following the Sub-division
and on the assumption that no ordinary shares are bought back or issued by the
Company between the date of this announcement and the date on which the
Sub-division takes effect, the Company will have 647,060,015 New Ordinary
Shares in issue (including 21,995,550) held in Treasury. A holding of New
Ordinary Shares immediately following the Sub-division will represent the same
proportion of the issued ordinary share capital of the Company as the
corresponding holding of Existing Ordinary Shares immediately prior to the
Sub-division. The Sub-division will therefore itself not affect the overall
value of a shareholder's holding in the Company.

Expected Timetable

 

 Publication of Annual Report and Notice of AGM                               3 March
 AGM                                                                          12.30 p.m. on 21 April
 Last day of dealings in the Existing Ordinary Shares                         21 April
 Record date for the Sub-division and ISIN of the Existing Ordinary Shares    6.00 p.m. on 21 April
 disabled in CREST
 Admission effective and dealings commence in New Ordinary Shares             8.00 a.m. on 24 April
 New Ordinary Shares credited to CREST accounts                               24 April
 Issue of new share certificates in respect of the New Ordinary Shares to be  by 5 May 2023
 issued to those shareholders who hold their Existing Ordinary Shares in
 certificated form

 

For further information, please contact:

 

 Edward Gibson-Watt              Charles Mearns

 Catriona Neville

 Stifel Nicolaus Europe Limited  For and on behalf of abrdn Holdings Limited
 Corporate Broker                Company Secretary
 Telephone: 020 7710 7600        Telephone: 0131 528 4132

 

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