Conversion of Shares

 
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INVESCO PERPETUAL SELECT TRUST PLC 
 
Headline: Conversion of Shares 
 
The Board of Invesco Perpetual Select Trust plc (the `Company') announces that 
valid Conversion Notices have been received or deemed to have been received in 
respect of: 
 
        170,037 UK Equity Shares 
 
        293,658 Global Equity Shares 
 
        351,516 Elected Hedge Fund Shares 
 
        129,482 Managed Liquidity Shares 
 
The respective Conversion Ratios were as follows: 
 
  * For every UK Equity Share converted, holders will receive 0.93889 Global 
    Equity Shares, 0.95115 Hedge Fund Shares or 0.97787 Managed Liquidity 
    Shares; 
 
  * For every Global Equity Share converted, holders will receive 1.06508 UK 
    Equity Shares, 1.01305 Hedge Fund Shares or 1.04152 Managed Liquidity 
    Shares; 
 
  * For every Elected Hedge Fund Share converted, holders will receive 1.05136 
    UK Equity Shares, 0.98712 Global Equity Shares or 1.02810 Managed Liquidity 
    Shares; 
 
  * For every Managed Liquidity Share converted, holders will receive 1.02263 
    UK Equity Shares, 0.96014 Global Equity Shares or 0.97267 Hedge Fund 
    Shares. 
 
The Conversion Ratios are based on the relative net asset values of the 
Company's Share classes as at close of business on 21 October 2011. 
 
Individual Shareholders' entitlements on conversion 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 October 
2011 in respect of the UK Equity and Global Equity Shares. 
 
The net changes to the number of shares outstanding following the conversion 
and allotments are as follows: 
 
       +118,114 UK Equity Shares 
 
       -245,174 Global Equity Shares 
 
       +100,413 Hedge Fund Shares 
 
        +36,615 Managed Liquidity Shares 
 
         +6,404 Deferred Shares 
 
Following the conversion, the total number of listed Shares in issue (excluding 
shares held in treasury) will be: 
 
      39,601,495 UK Equity Shares 
 
      31,454,464 Global Equity Shares 
 
      10,613,223 Hedge Fund Shares; and 
 
       8,175,000 Managed Liquidity Shares 
 
The Company has applied for following numbers of Shares arising or allotted 
pursuant to conversion (other than the Deferred Shares) to be admitted to the 
Official List and to trading on the London Stock Exchange. Dealings in such 
shares are expected to commence at 8.00 a.m. on 28 October 2011. It is expected 
that Certificates in respect of the Resulting Shares will be posted by 10 
November 2011. 
 
         288,151 UK Equity Shares 
 
          48,484 Global Equity Shares 
 
         451,929 Hedge Fund Shares; and 
 
         166,097 Managed Liquidity Shares 
 
The Deferred Shares, which have negligible economic value, will be purchased by 
the Company for a nominal sum and cancelled. 
 
27 October 2011 
 
Contact: Paul Griggs 020 7065 4000 
 
 
 
END