Perpetual Inc&Growth Transaction Update

 
TIDMPLI 
 
30 October 2020 
 
               Perpetual Income and Growth Investment Trust plc 
 
                              Transaction update 
 
On 8 October 2020 Perpetual Income and Growth Investment Trust plc (the " 
Company") announced that it had agreed the basis upon which Aberdeen Standard 
Investments ("ASI") would advise the Company on its portfolio realignment and 
transition plan ahead of the Company's section 110 scheme of reconstruction 
(details of which were announced on 12 October 2020) (referred to below as the 
"Realignment and Transition Plan" and the "Transaction" respectively). Invesco 
Fund Managers Limited remains the Company's alternative investment fund manager 
until the Company enters liquidation, expected on 17 November 2020. 
 
The Company announces that, under the Realignment and Transition Plan, the 
proportion of the Company's portfolio that will be combined with that of Murray 
Income Trust PLC ("MUT") as part of the Transaction is now fully aligned with 
ASI's target portfolio for MUT as enlarged by the Transaction. The remainder of 
the Company's original portfolio (being approximately 26% of assets), consists 
of cash, cash equivalents and holdings with high degrees of liquidity that have 
yet to be sold. These holdings will be realised in time to fund the final 
interim dividend, which is expected to be paid on 13 November 2020, payments to 
those shareholders that elect for the cash option under the Transaction and the 
Company's costs under the Transaction. 
 
Further information on the Transaction can be found in the Company's 
shareholder circular that was published on 12 October 2020 and is available on 
the Company's website at https://www.invesco.com/uk/en/investment-trusts/ 
individual/perpetual-income-and-growth-investment-trust-plc.html. 
 
Contacts 
 
Richard Laing, Chairman 
Contact through Winterflood 
 
Winterflood Investment Trusts (Corporate Broker) 
Joe Winkley / Neil Morgan 
Telephone [phone] / 0292 
 
 
 
END 
 

(END) Dow Jones Newswires

October 30, 2020 03:00 ET (07:00 GMT)