Henderson Eurotrust PLC Results of Scheme Elections

RNS Number : 3586U

Henderson Eurotrust PLC

28 June 2024

 

JANUS HENDERSON FUND MANAGEMENT UK LIMITED

 

HENDERSON EUROTRUST PLC

 

LEGAL ENTITY IDENTIFIER:  213800DAFFNXRBWOEF12

 

28 June 2024

 

HENDERSON EUROTRUST PLC

 

Results of Scheme Elections

 

In connection with the proposals for the merger of interests of Henderson EuroTrust plc (the "Company") with Henderson European Focus Trust  plc ("HEFT") to form Henderson European Trust plc (the "Combined Trust") by means of a scheme of reconstruction and winding up of the Company under section 110 of the Insolvency Act 1986 (the "Scheme") and the issue of New HEFT Shares to Shareholders who are deemed to have elected to roll over their investment into the Combined Trust, the Board announces the following Elections in connection with the Scheme:

 

•           Rollover Option: 111,223,723 Shares / 52.50 per cent. of issued Shares

•           Cash Option: 100,631,687 Shares / 47.50 per cent. of issued Shares

 

In accordance with the Scheme, eligible Shareholders that made no Election have been deemed to have elected for the Rollover Option.

 

The Cash Option is limited in aggregate to 15 per cent. of the issued Shares. Shareholders were entitled to elect for the Cash Option in respect of more than 15 per cent. of their individual holdings of Shares (the "Basic Entitlement", such excess amount being an "Excess Application").

 

In light of the above elections, the Basic Entitlement of all Shareholders electing for the Cash Option will be satisfied in full and Excess Applications will be satisfied to the extent of approximately 13.05 per cent. of each Excess Application.

 

As an illustration, Shareholders that elected in full for the Cash Option will receive approximately 26.09 per cent. of their individual holding in Shares with rights to the Cash Option due to their Excess Application being partially satisfied.

 

The Shares will be reclassified as follows:

 

•           180,077,099 Shares with "A" rights, being the right to receive New HEFT Shares; and

•           31,778,311 Shares with "B" rights, being the right to receive cash.

 

Applications have been made to the FCA and to the London Stock Exchange for the Shares to be reclassified for listing purposes with effect from 8.00 a.m. on 3 July 2024. The listing of, and dealings in, the Company's Reclassified Shares are subsequently expected to be suspended at 7.30 a.m. on 4 July 2024.

 

Defined terms used in this announcement have the meanings given in the Company's circular to Shareholders dated 20 May 2024 (the "Circular"). The Circular is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at www.hendersoneurotrust.com.

 

For further information please contact:

  

Henderson EuroTrust plc Nicola Ralston Chairman	Contact via Company Secretary 020 7818 4082
Janus Henderson Investors, Manager Dan Howe Head of Investment Trusts	020 7818 4458
Oliver Packard Head of Investment Trust Sales	0207 818 2690
Harriet Hall PR Director, Investment Trusts	020 7818 2919
Deutsche Numis, Corporate Broker Nathan Brown Matt Goss	020 7260 1426 020 7260 1642

 

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

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