Perpetual Inc&Growth Statement re Transaction Update
08 Ottobre 2020 - 5:11PM
UK Regulatory
TIDMPLI
8 October 2020
Perpetual Income and Growth Investment Trust plc
Transaction update
On 29 July 2020, Perpetual Income and Growth Investment Trust plc (the "Company
") announced that it had agreed heads of terms for a combination of the assets
of the Company with Murray Income Trust PLC ("MUT") by means of a section 110
scheme of reconstruction under the Insolvency Act 1986 (the "Transaction"),
subject to shareholder approval.
The Company today announces that, as part of the Transaction, it has entered
into an agreement with MUT's investment manager, Aberdeen Standard Investments,
whereby Aberdeen Standard Investments via Aberdeen Asset Managers Limited will
advise the Company on its portfolio realignment and transition plan. The
agreement is effective from 8 October 2020 and will enable the Company to
manage the realignment of the Company's portfolio ahead of the scheme of
reconstruction being implemented and its transition to MUT (the "Transition
Period"). Aberdeen Standard Investments will not receive a fee from the Company
for its advisory services, and Invesco Fund Managers Limited will remain the
Company's alternative investment fund manager until the Company enters
liquidation.
The portfolio transition and realignment plan aims to ensure that by the end of
the Transition Period, the Company's portfolio will have been realigned to be
substantially similar to that of MUT. This will enable the Company's portfolio
to be combined with MUT under the scheme of reconstruction without further
material change.
Further information on the Transaction, including the Company's shareholder
circular and notice of general meetings, is expected to be sent to shareholders
shortly.
Contacts
Richard Laing, Chairman
Contact through Winterflood
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley / Neil Morgan
Telephone 020 3100 0000
Invesco Fund Managers Limited
Angus Pottinger
Telephone 020 3753 0714
Aberdeen Standard Investments
James Thorneley
Telephone 0776 855 6334
END
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