Legal Entity Identifier: 549300G5SWN8EP2P4U41

14 January 2022

POLAR CAPITAL GLOBAL FINANCIALS TRUST PLC

Publication of Shareholder Circular

Shareholder Circular

Polar Capital Global Financials Trust plc (the "Company") announces that it has today published a Shareholder Circular (the "Circular") convening a General Meeting to be held at 2.00pm on Tuesday, 1 February 2022 to put forward resolutions to approve the renewal of the authority to allot Ordinary Shares and to disapply the pre-emption rights in respect of such allotments.

In addition to the conversion of the C' Shares issued in May 2021 into 76,555,000 Ordinary Shares in August 2021, in order to satisfy investor demand, in the financial year ended 30 November 2021, the Company re-issued 73,374,900 Ordinary Shares from those held in the treasury account, at an average premium to the prevailing estimated NAV of 1.63%. Subsequent to the year-end up to 12 January 2022, being the latest practicable date, the Company has re-issued the remaining 6,350,000 Ordinary Shares held in the treasury account and a further 7,000,000 new Ordinary Shares from the Company's blocklisting, at an average premium to the prevailing estimated NAV of 1.37%. The Company notes the continued interest in the financials sector and the ongoing investor demand for its Ordinary Shares.

The Directors are seeking to renew the authority from Shareholders to permit the issue of new Ordinary Shares which may be issued without pre-emption rights. Since the 2021 AGM, the Company has seen significant demand for its shares as a result of good performance and an increasing focus on the financials sector by investors. The shares have persistently traded at a premium to its NAV and the Board has sought to assist in avoiding the creation of an excessive and unsustainable premium and meet the continued market demand through the regular issuance of shares. While the Directors have the ability, under the Prospectus issued on 12 May 2021, to undertake a second C share issue or subsequent placings of Ordinary Shares, such methods attract both cost and time and are therefore more suited to satisfying demand for significantly larger tranches of shares. The Directors believe that having the ability to ensure a ready supply of Ordinary Shares to the market, in any tranche size, should assist with maintaining liquidity in the market to satisfy new demand and support secondary market trading in the Company's shares.  

In connection with this, the Circular, including the notice of the General Meeting and the proxy form for the General Meeting, have been posted to shareholders today.

Copies of these documents have been submitted to the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and will shortly be available for inspection on the Company's website (www.polarcapitalglobalfinancialstrust.com).

Expected Timetable: General Meeting

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