To: RNS
From: BMO Managed Portfolio Trust PLC
Date: 6 November 2019
LEI: 213800ZA6TW45NM9YY31
Conversion of shares
Shareholders of BMO Managed Portfolio Trust PLC (the "Company") have the opportunity to convert their Income shares into Growth shares or their Growth shares into Income shares annually subject to minimum conversion thresholds.
The Company announces that valid conversion notices were received in respect of the following shares (the "Converting Shares"):
- 196,466 Growth shares
- 240,482 Income shares
In accordance with the Company's articles of association, the Converting Shares will be converted into the other share class by reference to the ratio of the relative underlying net asset values of the Growth shares and Income shares as at close of business on 30 October 2019.
The conversion ratios were:
- for every Converting Share which is a Growth share, holders are entitled to 1.55403 Income shares and
- for every Converting Share which is an Income share, holders are entitled to 0.64349 Growth shares.
Accordingly, with effect from 8.00 a.m. on 7 November 2019 the above Converting Shares will be converted into:
- 305,314 Income shares; and
- 154,747 Growth shares
(the "Resulting Shares").
Individual shareholders' entitlements on conversion are rounded down to the nearest whole number of shares. The Resulting Shares will rank parri passu with the existing shares of the relevant class.
The Resulting shares have been allotted conditional only to admission to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange.
Applications have been made for the Resulting Shares to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange for the Resulting Shares to be admitted to trading on the Main Market. It is expected that Admission will occur and dealings will commence in such shares at 8.00 a.m. on 7 November 2019.
It is anticipated that certificates in respect of the Resulting Shares will be posted by 13 November 2019 and CREST accounts credited on 7 November 2019.
Total voting rights
Following the conversion the Company's issued share capital consists of 44,585,537 Income shares and 35,593,210 Growth shares, of which nil Income shares and 130,000 Growth shares are held in treasury.
Therefore the total number of shares with voting rights in the Company is 44,585,537 Income shares and 35,463,210 Growth shares. These figures may be used by 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 FCA's Disclosure Guidance and Transparency Rules.
Note:
The Nominal Value of the shares following the conversion will be £0.094976101 per Income share and £0.094976101 per Growth share. The change in Nominal Value is required for legal purposes and does not impact the net asset value of the shares.
For further information please contact:
Ian Ridge, BMO Investment Business Limited 0131 718 1010
Peter Hewitt, BMO Investment Business Limited 0131 718 1244
