Migration to the United Kingdom

RNS Number : 5462H

European Assets Trust NV

16 November 2018

 

European Assets Trust NV

Migration to the United Kingdom

European Assets Trust N.V. ("the Company") is pleased to announce that it expects to bring forward proposals to its shareholders to migrate the legal seat and structure of the Company from the Netherlands to the United Kingdom. There will be no change to the investment policy or dividend policy as a result of this migration and the investment team will also remain the same. The Company has established a subsidiary European Assets Trust PLC to act as its successor vehicle.

The Company believes that the benefits associated with the proposed migration include:

·   a simplified corporate structure.  European Assets Trust PLC will be a United Kingdom resident investment trust, an investment vehicle that is widely accepted and understood in the UK intermediated and direct (retail) marketplace;

·     a single jurisdiction for current and future regulation - the United Kingdom;

·     a reduction in the ongoing charges rate; and

·   a premium listing on the London Stock Exchange and eligibility for inclusion in the FTSE UK Index Series.  European Assets Trust PLC will not be listed in the Netherlands.

Subject to receipt of certain regulatory approvals and other consents which are currently being sought, the migration will be proposed to shareholders of the Company. It is anticipated that the Company will provide a further update during the week commencing 26 November 2018.

For further information contact:

Scott McEllen

BMO Investment Business Limited, Company Secretary                           0207 628 8000

Wilbert van Twuijver, Managing Director

FCA Management BV, Rotterdam                                                     [phone]

Alex Collins/Tom Scrivens

Cenkos Securities plc, Corporate Broker                                                  020 7397 8900

This press release contains inside information within the meaning of article 7(1) of the European Market Abuse Regulation.

 

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