HENDERSON INVESTMENT FUNDS LIMITED
HENDERSON HIGH INCOME TRUST PLC
LEGAL ENTITY IDENTIFIER 213800OEXAGFSF7Y6G11
28 June 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA
Henderson High Income Trust plc (the "Company" or "HHI")
Issue of new shares in connection with the reconstruction and voluntary winding up of Threadneedle UK Select Trust Limited and initial placing and offer
Issue of New Shares
The Board of Henderson High Income Trust plc is pleased to announce that it has raised approximately £32.1 million in connection with (i) the Company's participation in the proposed scheme of reconstruction and voluntary winding up of Threadneedle UK Select Trust Limited ("UKT") and (ii) the Initial Placing and Offer.
The number of New Shares to be issued to UKT Shareholders under the UKT Scheme is based on the HHIT FAV per Share and the UKT FAV per Share. The HHIT FAV per Share was 192.63 pence and the UKT FAV per Share was 223.28 pence. Accordingly, UKT Shareholders will receive approximately 1.16 New Shares for every UKT Share held by them. In aggregate, the Company will issue approximately 15.2 million New Shares under the Scheme.
New Shares issued under the Initial Placing and Offer will be issued at an issue price of 194.56 pence and approximately 1.4 million New Shares in aggregate will be issued pursuant to the Initial Placing and Offer.
Applications have been made for the approximate 16.6 million New Shares to be issued pursuant to the Scheme and the Initial Placing and Offer to be admitted to the Official List (with a Premium Listing) and to the London Stock Exchange for the New Shares to be admitted to trading on the Main Market. It is expected that Admission will occur and dealings will commence in the New Shares to be issued pursuant to the Scheme and the Initial Placing and Offer at 8.00 a.m. on 29 June 2017.
Total voting rights
Each Ordinary Share has one voting right. Following the issue of New Shares pursuant to the Scheme and the Initial Placing and Offer, the Company will have 128,596,278 Ordinary Shares in issue. The total number of voting rights in the Company will therefore be 128,596,278 and this figure may be used by Ordinary Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
Facility increase
Following the increase in its total assets by virtue of the Scheme and the Initial Placing and Offer, the Company has agreed with Scotiabank to increase the Company's loan facility from £30,000,000 to £42,000,000, such increase expected to take effect from Admission.
Definitions
Terms defined in the prospectus published by the Company on 30 May 2017 shall have the same meanings in this announcement unless the context requires otherwise.
Enquiries
For further information please contact:
David Smith Fund Manager Henderson High Income Trust plc Tel: 020 7818 4443 |
James de Sausmarez Director and Head of Investment Trusts Janus Henderson Investors Tel: 020 7818 3349 |
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Sarah Gibbons-Cook Investor Relations and PR Manager Janus Henderson Investors Tel: 020 7818 3198 |
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Notes
This announcement is for information purposes only and does not purport to be full or complete and any decision regarding the Proposals should be made only on the basis of the Circular and the Prospectus.
This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.
The issue and the distribution of this announcement, the Circular and/or the Prospectus in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to in this announcement, the Circular and/or the Prospectus comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
