Conversion of Shares

RNS Number : 2389E

BMO Managed Portfolio Trust PLC

04 November 2020

 

To:  RNS

From:  BMO Managed Portfolio Trust PLC

Date:  4 November 2020

LEI:   213800ZA6TW45NM9YY31

Conversion of shares

Shareholders of BMO Managed Portfolio Trust PLC (the "Company") have the opportunity to convert their Income shares into Growth shares or their Growth shares into Income shares annually subject to minimum conversion thresholds.

The Company announces that valid conversion notices were received in respect of the following shares (the "Converting Shares"):

-  71,951 Growth shares

-  258,490 Income shares

In accordance with the Company's articles of association, the Converting Shares will be converted into the other share class by reference to the ratio of the relative underlying net asset values of the Growth shares and Income shares as at close of business on 28 October 2020.

The conversion ratios were:

-  for every Converting Share which is a Growth share, holders are entitled to 1.9838926 Income shares and

-  for every Converting Share which is an Income share, holders are entitled to 0.5040595 Growth shares.

Accordingly, with effect from 8.00 a.m. on 5 November 2020 the above Converting Shares will be converted into:

-  142,743 Income shares; and

-  130,294 Growth shares

(the "Resulting Shares").

Shareholders' entitlements on conversion are rounded down to the nearest whole number of share. The Resulting Shares will rank parri passu with the existing shares of the relevant class.

The Resulting shares have been allotted conditional only to admission to the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange.

Applications have been made for the Resulting Shares to be admitted to the Official List of the Financial Conduct Authority and to the London Stock Exchange for the Resulting Shares to be admitted to trading on the Main Market. It is expected that Admission will occur and dealings will commence in such shares at 8.00 a.m. on 5 November 2020.

It is anticipated that certificates in respect of the Resulting Shares will be posted by 11 November 2020 and CREST accounts credited on 5 November 2020.

Total voting rights

Following the conversion the Company's issued share capital consists of 46,769,790 Income shares and 36,171,553 Growth shares, of which 25,000 Income shares and nil Growth shares are held in treasury.

Therefore the total number of shares with voting rights in the Company is 46,744,790 Income shares and 36,171,553 Growth shares. These figures may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information please contact:

Ian Ridge, BMO Investment Business Limited  0131 718 1010

Peter Hewitt, BMO Investment Business Limited  0131 718 1244

 

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