Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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UK Select Trust Ld (UKT)

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Friday 25 November, 2011

UK Select Trust Ld

Notice of EGM

RNS Number : 8297S
UK Select Trust Limited
25 November 2011


(the "Company")


Registered No: 475


25 November 2011


Notice of Extraordinary General Meeting




The Company will post a circular to shareholders today which contains (i) information on the payment of scrip dividends out of realised capital reserves, (ii) details of proposals to amend the Company's memorandum of incorporation (the "Memorandum") and to adopt new articles of incorporation (the "New Articles") and (iii) a notice convening an extraordinary general meeting of the Company for 10.30 a.m. on 16 December 2011 (the "EGM") at which special resolutions to amend the Memorandum and adopt the New Articles will be proposed (the "Circular").


Scrip Dividend


Position for Shareholders resident in Guernsey


At present, Shareholders who are resident in Guernsey for tax purposes are able to benefit from a concession granted by the States of Guernsey Income Tax Office so that dividends paid in the form of scrip issued by the Company are treated as not subject to taxation in Guernsey.  The published Statement of Practice dealing with scrip dividends is currently under review by the States of Guernsey Income Tax Office and it is anticipated that it will be revised to the effect that scrip dividends will generally be treated as income in the hands of any Guernsey resident Shareholders, and therefore subject to taxation in Guernsey.  However, different treatment may be granted in certain circumstances. 


The review of the relevant Statement of Practice is ongoing but in the meantime the Company has actively sought clarification from the States of Guernsey Income Tax Office about the impact of its proposals upon the tax liability of Guernsey resident Shareholders.  The Director of Income Tax has confirmed that if the Company is able to demonstrate that the scrip issue is funded from capital reserves, the receipt of the scrip dividend would be regarded as capital in the hands of a Guernsey resident Shareholder.  In order to demonstrate that a scrip dividend is funded from capital reserves, the Director of Income Tax has confirmed that he will accept the audited financial statements of the Company as evidence of the source of payment if these clearly demonstrate that the scrip dividend is paid out of the Company's capital reserves.  The Director has also confirmed that he would not invoke the general anti-avoidance provisions in Guernsey's income tax legislation to override this treatment.


The proposed New Articles will remove the current prohibition against the Company using its capital reserves for certain purposes, including the payment of dividends, and will thereby make it possible for the Company under Guernsey company law to fund scrip dividends from its capital reserves.


Position for Shareholders resident outside Guernsey


For Shareholders who are not resident in Guernsey for tax purposes, distributions by the Company, whether in the form of scrip or cash, are currently paid without deduction of Guernsey income tax.  The proposed New Articles will not affect this.


Proposed Amendments to the Memorandum and Adoption of New Articles


The Companies (Guernsey) Law, 2008 came into effect on 1 July 2008 and all Guernsey companies are required to adopt articles of incorporation which comply with that Law by 1 July 2012.  The amendment to the Memorandum and adoption of New Articles is being proposed primarily to comply with that Law and to enable the Company to fund any scrip dividend from capital reserves.


The Circular sets out details of the changes that will be made if the special resolutions to amend the Memorandum and adopt the New Articles are passed at the EGM.  The full terms of the Memorandum as proposed to be amended and the New Articles will be available for inspection until the close of the EGM at Dorey Court, Admiral Park, St Peter Port, Guernsey GY1 3BG.



Availability of Circular


A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at of the Circular will also be available to download from the Investment Manager's web site at shortly.


For further information please contact:



Kleinwort Benson (Channel Islands) Fund Services Limited

01481 727111



This information is provided by RNS
The company news service from the London Stock Exchange

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