REG - Personal Assets Tst. - Publication of Circular and General Meeting

Personal Assets TrustAnnouncement

12/12/2023 16:30

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RNS Number : 5369W  Personal Assets Trust PLC  12 December 2023

To:                   RNS

 

From:              Personal Assets Trust plc

 

LEI:                  213800Z7ABM7RLQ41516

 

Date:               12 December 2023

 

 

Personal Assets Trust plc

Publication of Circular and General Meeting

Personal Assets Trust plc (the "Company") operates a discount and premium
control mechanism (the "DCM") under which the Company purchases or issues
Ordinary Shares to ensure, in normal market conditions, that the Ordinary
Shares trade as close as possible to their underlying net asset value per
Ordinary Share. The Board believes that the operation of the DCM is
fundamental to the Company and as a result the policy is enshrined in the
Company's Articles of Association.

 

The Articles of Association provide that the Directors will operate the DCM
subject to the requisite authorities being in place, including both the
required shareholder authorities and appropriate levels of distributable
profits available to enable the Company to purchase its own shares. Given the
level of share issuance since the inception of the DCM the Company has
substantial sums standing to the credit of its share premium account which are
non-distributable.

Accordingly, the Company has today published and posted to Shareholders a
circular convening a general meeting to be held at 11.00 a.m. on 8 January
2024 at the offices of Juniper Partners Limited, 28 Walker Street, Edinburgh
EH3 7HR (the "General Meeting"). At the General Meeting a special resolution
will be proposed to cancel the amount standing to the credit of the Company's
share premium account and have the credit arising in the Company's books of
account credited to a new distributable reserve.

A copy of the circular will shortly be available on the Company's website at
www.patplc.co.uk and will be available for inspection at the National Storage
Mechanism which is located at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

Juniper Partners Limited

Company Secretary

 

Enquiries: 0131 378 0500

 

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