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Franklin Global Trust plc announced on 19 February 2026 the results of scheme elections related to its approved reconstruction and winding-up. Shareholders approved the scheme on 18 February 2026, with 46,280,003 Shares (96.3%) electing for the Rollover Option and 1,792,205 Shares (3.7%) for the Cash Option. Applications have been made for reclassification of Shares effective 8:00 a.m. on 26 February 2026, with listing of Reclassified Shares expected to be suspended at 7:30 a.m. on 27 February 2026.
| Date | 19 Feb 2026 |
| Time | 07:00:09 |
| Category | Miscellaneous |
| ID | 5799T |
19 February 2026
Franklin Global Trust plc
Legal Entity Identifier: 549300RKB85NFVSTBM94
Results of Scheme Elections
On 18 February 2026, the Board of Franklin Global Trust plc (the Company or FRGT) announced that Shareholders had approved the proposals for the scheme of reconstruction and members' voluntary winding-up of the Company under section 110 of the Insolvency Act 1986 (the Scheme) at the First General Meeting. Implementation of the Scheme remains subject to, among other things, Shareholder approval at the Second General Meeting to be held on 27 February 2026.
The Board is pleased to announce the following Elections in connection with the Scheme:
· Rollover Option: 46,280,003 Shares / 96.3 per cent. of issued Shares (excluding Shares held in treasury); which will be reclassified as Reclassified Shares with "A" rights, being the right to receive New IGET Shares; and
· Cash Option: 1,792,205 Shares / 3.7 per cent. of issued Shares (excluding Shares held in treasury); which will be reclassified as Reclassified Shares with "B" rights, being the right to receive cash.
In accordance with the Scheme, Eligible Shareholders that made no Election have been deemed to have elected for the Rollover Option.
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 26 February 2026. The listing of, and dealings in, the Company's Reclassified Shares are subsequently expected to be suspended at 7.30 a.m. on 27 February 2026.
Defined terms used in this announcement have the meanings given in the Company's circular to Shareholders dated 21 January 2026 (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 https://www.franklinglobaltrust.com/.
Expected timetable
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2026 |
|
Calculation Date |
5.00 p.m. on 20 February |
|
Latest time and date for receipt of Forms of Proxy in respect of the Second General Meeting |
10.00 a.m. on 25 February |
|
Reclassification of the Ordinary Shares |
26 February |
|
Suspension of listing of Reclassified Shares |
7.30 a.m. on 27 February |
|
Second General Meeting |
10.00 a.m. on 27 February |
|
Appointment of the Liquidators |
27 February |
|
Effective Date for implementation of the Scheme |
27 February |
|
Announcement of the results of Elections, the FRGT FAV per Share, the Cash Pool FAV per Share, and the IGET FAV per Share |
27 February |
|
Admission and Dealings commence in, New IGET Shares |
on or soon after 8.00 a.m. on 2 March |
|
CREST accounts credited with New IGET Shares |
as soon as reasonably practicable on 2 March |
|
Certificates despatched in respect of New IGET Shares during or as soon as practicable after |
no earlier than 10 Business Days from the Effective Date |
|
Cheques despatched to Shareholders who elect for the Cash Option in accordance with their entitlements and CREST accounts credited with cash |
On or as soon after 10 Business Days from the Effective Date |
|
Cancellation of listing of Reclassified Shares |
as soon as practicable after the Effective Date |
Note: All references to time in this announcement are to UK time. Each of the times and dates in the above expected timetable (other than in relation to the General Meetings) may be extended or brought forward. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service.
Enquiries:
|
Franklin Global Trust plc Christopher Metcalfe, Chair
|
c/o J.P. Morgan Cazenove |
|
J.P. Morgan Cazenove (Sole Financial Adviser) William Simmonds Rupert Budge |
+44 (0) 20 3493 8000 |