Shareholder Engagement

RNS Number : 5894U

Polar Capital Global Financials Tst

26 November 2019

 

Polar Capital Global Financials Trust Plc

Legal Entity Identifier: 549300G5SWN8EP2P4U41

26 November 2019

Shareholder Engagement

In light of the backstop date of 31 May 2020 by which Polar Capital Global Financials Trust plc

("PCFT" or the "Company") is due to be placed into liquidation in accordance with its Articles of Association, the Board of PCFT is in the process of considering whether and on what basis

shareholders might be offered the ability to maintain their exposure to the Company's

underlying asset class through the closed-end fund structure, whilst providing those

shareholders who no longer wish to remain invested with the opportunity to realise their

shareholdings at close to net asset value.

Preliminary indications from a number of the Company's largest shareholders suggest that

there is sufficient realistic prospect of support for a continuing vehicle to merit a fuller

consultation process with investors. The Board therefore intends to engage with shareholders

in the coming weeks in order to establish whether it would be appropriate to put forward

reconstruction proposals. It is anticipated that any such proposals, if they were to be

forthcoming, would be finalised and announced in Q1 2020.

Enquiries

Robert Kyprianou                                                        020 7227 2700

Chairman

Polar Capital Global Financials Trust plc

David Yovichic                                                             020 7597 4000

Investec Bank plc

John Regnier-Wilson                                                   020 7227 2700

Polar Capital LLP

 

END

 

 

MSCCKPDKABDDQDB