Invesco Perpetual Select Trust Plc - Conversion of Securities

INVESCO PERPETUAL SELECT TRUST PLC

LEI: 549300JZQ39WJPD7U596

Headline:       Conversion of Shares

The Board of Invesco Perpetual Select Trust plc (the ‘Company’) announces that valid Conversion Notices have been received in respect of:

21,068	UK Equity Shares
zero	Global Equity Income Shares
zero	Balanced Risk Shares
zero	Managed Liquidity Shares

The respective Conversion Ratios were as follows:

• For every UK Equity Share converted, holders will receive 0.968711 Global Equity Income Shares, 1.383285 Balanced Risk Shares or 1.780505 Managed Liquidity Shares;
• For every Global Equity Income Share converted, holders will receive 1.032299 UK Equity Shares, 1.427964 Balanced Risk Shares or 1.838013 Managed Liquidity Shares;
• For every Balanced Risk Share converted, holders will receive 0.722917 UK Equity Shares, 0.700298 Global Equity Income Shares or 1.287156 Managed Liquidity Shares;
• For every Managed Liquidity Share converted, holders will receive 0.561639 UK Equity Shares, 0.544066 Global Equity Income Shares or 0.776906 Balanced Risk Shares.

The Conversion Ratios, which will be effective on 2 May 2017, are based on the relative net asset values of the Company’s Share classes as at close of business on 20 April 2017.

Individual Shareholders’ entitlements on conversion on 2 May 2017 will be rounded down to the nearest whole number of Shares. Fractional entitlements will be aggregated and sold in the market. The Shares arising or allotted pursuant to the conversion will rank pari passu with the existing Shares of the relevant class and, for the avoidance of doubt, will not rank for the dividends declared on 12 April 2017 in respect of the UK Equity and Global Equity Income Shares.

The net changes to the number of shares outstanding following the conversion and allotments are as follows:

-21,068	UK Equity Shares
+20,408	Global Equity Income Shares
-	Balanced Risk Shares
-	Managed Liquidity Shares
+661	Deferred Shares

Following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be:

38,009,455	UK Equity Shares
32,747,913	Global Equity Income Shares
7,043,885	Balanced Risk Shares
5,195,265	Managed Liquidity Shares

The Company has applied for the following numbers of Shares arising or allotted pursuant to conversion to be admitted to the Official List and to trading on the London Stock Exchange:

zero	UK Equity Shares
20,408	Global Equity Income Shares
zero	Balanced Risk Shares
zero	Managed Liquidity Shares

Dealings in such shares are expected to commence at 8.00 a.m. on 3 May 2017. It is expected that Certificates in respect of the Resulting Shares will be posted by 12 May 2017.

The Deferred Shares arising on the conversion will be cancelled.

The remaining conversion dates for 2017 are set out below. Elections for conversion must be received by close of business ten days prior to the respective conversion date. Where that day is not a business day, elections by way of CREST must be transmitted and properly authenticated by 6.00pm on the last preceding business day. Written elections will be accepted if received by the first post on the following business day.

Conversion Date	Date by which elections for conversion must be received
1 August 2017	22 July 2017
1 November 2017	22 October 2017

Instructions on how to convert Shares on any conversion date are available on the web pages of all the share classes on the Investment Manager’s website: www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary.

25 April 2017

Contact:       Angus Pottinger        020 3753 1000

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