Perpetual Inc&Growth Transaction Update
30 Ottobre 2020 - 8:00AM
UK Regulatory
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 020 3100 0301 / 0292
END
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