Publication of Prospectus and Posting of Circular

RNS Number : 2902Y

Personal Assets Trust PLC

28 February 2012

 

To:                   RNS

From:              Personal Assets Trust plc

Date:               28 February 2012

PUBLICATION OF PROSPECTUS AND POSTING OF CIRCULAR CONVENING A GENERAL MEETING

Personal Assets Trust plc (the "Company") has today published a prospectus approved by the UK Listing Authority in relation to future issues of up to 500,000 shares for the purpose of operating its premium control policy.

In order to meet the continuing demand for shares in the Company, the board of directors of the Company (the "Board") is also seeking an early renewal of its authority to issue further shares for cash on a non pre-emptive basis.

Accordingly, the Company has today issued a circular convening a general meeting (the "General Meeting") to be held at 9.30 a.m. on Thursday, 15 March 2012 at 10 St. Colme Street, Edinburgh EH3 6AA.

At the General Meeting, resolutions will be put to shareholders (i) to give the Board authority to allot new shares up to an aggregate nominal amount of £6,250,000 (i.e. up to 500,000 new shares of a nominal value of £12.50 each); and (ii) to disapply rights of pre-emption in relation to the allotment of shares up to an aggregate nominal amount of £6,250,000.

The Board's policy, which is incorporated in the Company's articles of association, is to ensure that the Company's shares always trade at close to net asset value.  The Board will only issue new shares (or, as the case may be, re-issue shares from treasury) when they believe it is advantageous to the Company's shareholders to do so and in no circumstances would any issue of new shares or re-issue of shares from treasury be at an issue price which would result in a dilution of the net asset value per share.

A copy of the prospectus and circular will shortly be available for inspection at www.hemscott.com/nsm.do.

Copies of the prospectus and circular are also available in electronic form on the Company's website at www.patplc.co.uk and are available for collection during normal business hours on any day (Saturday, Sunday and public holidays excepted) from the registered office of the Company at 10 St Colme Street, Edinburgh EH3 6AA and from Dickson Minto W.S., Broadgate Tower, 20 Primrose Street, London EC2A 2EW.

For further details, please contact :-

Robin Angus, Executive Director                                0131 538 6601

Steven Davidson, Company Secretary                      0131 538 6603

 

END

 

 

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