Circ re Subscription Notice

HgCapital Trust plc (the "Company")

                  Circular re exercise of Subscription Rights                  

 

The Board has today sent to holders of redeemable subscription shares of 1p
each in the Company (the "Subscription Shares") a circular (the "Circular")
reminding them that they have the right ("Subscription Right") (but not the
obligation) to subscribe in cash for ordinary shares of 25p each in the Company
(the "Ordinary Shares") on the subscription dates set out below (each a
"Subscription Date") and at the applicable subscription price (each a
"Subscription Price"):

Subscription Date Subscription Price 
                                     
                      (per share)    
                                     
31 May 2011              950p        
                                     
31 October 2011          950p        
                                     
31 May 2012              950p        
                                     
31 October 2012          950p        
                                     
31 May 2013              1025p       

The first Subscription Date is 31 May 2011 and the Subscription Price payable
on this date is 950p per share. The Subscription Rights are exercisable by
notice to the Company during the period of 30 days up to and including the
Business Day before 31 May 2011.

If the Subscription Rights are not exercised on this occasion, the holders of
Subscription Shares will have 4 further opportunities to do so during the
period of 30 days up to and including the Business Day before the relevant
Subscription Date(s) as set out above (at the applicable Subscription Price).
Please note that the Subscription Rights will lapse after 30 May 2013 (being
the Business Day immediately preceding the last Subscription Date of 31 May
2013).

The exercise of Subscription Rights by the holders of Subscription Shares is
subject to the terms and conditions attached to the Subscription Shares as
described in Part V of the Company's prospectus dated 11 March 2010 and the
Company's articles of association.

The terms and conditions of the Subscription Shares allow for the Subscription
Shares to be held in certificated form or in uncertificated form (i.e. in
CREST), in accordance with the Uncertificated Securities Regulations 2001.
Accordingly, the procedure for exercising Subscription Rights depends on
whether the Subscription Shares are held in certificated form or uncertificated
form. Full details of the procedure are set out in the Circular.

The Company's directors make no recommendation as to whether holders of
Subscription Shares should exercise their Subscription Rights.

The Ordinary Shares resulting from the exercise of the Subscription Rights will
rank pari passu with the Ordinary Shares then in issue (save for any dividends
or other distributions declared, made or paid on the Ordinary Shares by
reference to a record date prior to the allotment of the relevant Ordinary
Shares).

The Ordinary Shares arising on the exercise of Subscription Rights will be
allotted and issued within 14 days of the relevant Subscription Date (and with
effect from the Subscription Date).

The information in this announcement should be read in conjunction with the
full text of the Circular dated 21 April 2011. Capitalised terms used but not
defined in this announcement shall, unless the context otherwise requires, bear
the meaning given to them in the Circular.

 

A copy of the Circular will also shortly be available to view and download from
the company's website, www.hgcapitaltrust.com.

 

The Company has submitted the Circular to the National Storage Mechanism and it
will shortly be available for inspection at www.Hemscott.com/nsm.do.

 

Enquiries: 

Computershare Investor Services plc

Computershare Priority Applications, Corporate Actions

The Pavilions, Bridgwater Road

Bristol BS99 6AJ

0870 702 0131

Hg Pooled Management Limited

2 More London Riverside

London, SE1 2AP

[phone]

 

Neither the contents of the HgCapital or National Storage Mechanism websites,
nor the contents of any website accessible from hyperlinks on those websites
(or any other website) is incorporated into, or forms part of, this
announcement.