Scottish Investment Trust PLC Scheme Entitlements and Secured Bond Substitution (8125X)

TIDMSCIN

RNS Number : 8125X

Scottish Investment Trust PLC

31 August 2022

THE SCOTTISH INVESTMENT TRUST PLC (the "Company")

Scheme Entitlements and Secured Bond Substitution

Scheme Entitlements

Following the passing of the special resolutions put forward at the Company's First General Meeting and Second General Meeting, the Board of the Company is pleased to announce that as at the Calculation Date and as calculated in accordance with the terms of the Scheme as set out in the circular published by the Company dated 5 August 2022 (the "Circular"):

   --     the SIT FAV per Share is 9.283098 pence; 
   --     the JGGI FAV per Share is 4.586955 pence; and 
   --     the resultant conversion ratio is 2.023804 New JGGI Shares for each SIT Share.

Accordingly, each SIT Share will roll over into approximately two New JGGI Shares.

Applications have been made by JPMorgan Global Growth & Income plc for the New JGGI Shares to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange (together, "Admission"). It is expected that Admission will take place at 8.00am on 1 September 2022.

Substitution of SIT Bonds

In accordance with the terms of the Scheme, following the passing of the special resolution at the General Meeting held today, JGGI will be substituted as issuer and sole debtor of the SIT Bonds (of which GBP82,827,000 in aggregate principal amount remain outstanding), and will assume the rights and obligations of the Company under the SIT Bonds and the Amended and Restated Trust Deed (the "Substitution").

Following the Substitution, it is intended that the SIT Bonds will remain listed and traded on the London Stock Exchange.

Terms used and not defined in this announcement have the meanings given in the Circular unless the context otherwise requires.

Enquiries:

Liquidators

Derek Neil Hyslop

Colin Peter Dempster T: +44 (0)131 777 2235

Richard Peter Barker

JPMorgan Funds Limited

Simon Crinage T: +44 (0)20 7742 4000

Fin Bodman

Investec Bank plc (Corporate Broker)

Tom Skinner (Corporate Broking) T: +44 (0)20 7597 4000

David Yovichic (Corporate Finance)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCZZGFRDMLGZZM

(END) Dow Jones Newswires

August 31, 2022 10:35 ET (14:35 GMT)

Scottish Investment (LSE:SCIN)
過去株価チャート
から 12 2024 まで 1 2025