Final Conversion of Continuat

RNS Number : 6990T

Standard Life UK Small.Co's Tst PLC

10 June 2009

 



Standard Life UK Smaller Companies Trust PLC

Final Conversion of Continuation Shares

10 June 2009

The Board of Standard Life UK Smaller Companies Trust PLC (the 'Company') announces the final conversion of the Continuation Shares representing the interests of shareholders in Gartmore Smaller Companies Trust P.L.C. who chose to roll over their investments into Continuation Shares. The initial conversion of Continuation Shares took place on 14 April 2009.

Based on the respective unaudited net asset values of 112.57p per Ordinary Share and  113.92p per Continuation Share, as at 31 May 2009, a conversion ratio of 1 Continuation Share to 1.012010
Ordinary Shares has been established which will result in 3,643,877 Continuation Shares being converted into 3,687,639 new Ordinary Shares.

For illustration, a shareholder holding 1000 Continuation Shares would receive 1012 new Ordinary 
Shares.

New Ordinary Shares will rank pari passu with existing Ordinary Shares in all respects, including future dividends paid by the Company.  Following the final Conversion, the Company will have 63,163,381
Ordinary Shares in issue.

It is expected that, conditional upon admission of the new Ordinary Shares to listing on the Official List of the UKLA and to trading on the main market of the London Stock Exchange, the final conversion of Continuation Shares into new Ordinary Shares will take place at 8.00am on 11 June 2009, with dealings in new Ordinary Shares expected to commence at 8.00 am on 11 June 2009. Following the final conversion, the listing of the Continuation Shares will be cancelled.

It is expected that the new Ordinary Shares will be credited to CREST accounts at 8.00 am on 11 June 2009. It is expected that (i) documents of title in respect of certificated holdings and (ii) a confirmation note in respect of all holdings specifying the conversion ratio, number of Continuation Shares converted and new Ordinary Shares issued will be despatched to relevant shareholders on 11 June 2009.

Enquiries:

Gordon Humphries

Standard Life Investments

Tel: [phone]

Jane Lewis

Winterflood Investment Trusts

Tel: [phone]

 

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