Independent Investment Trust PLC Scheme Entitlements (8765F)
November 09 2022 - 10:00AM
UK Regulatory
TIDMIIT TIDMMNKS
RNS Number : 8765F
Independent Investment Trust PLC
09 November 2022
8 November 2022
THE INDEPENDENT INVESTMENT TRUST PLC (the "Company")
Scheme Entitlements
Following the passing of the special resolutions put forward at
the Company's First General Meeting and Second General Meeting, the
Board of the Company announces that as at the Calculation Date and
as calculated in accordance with the terms of the Scheme as set out
in the circular published by the Company dated 6 October 2022 (the
"Circular"):
-- the IIT FAV per Share is 454.237179 pence (being the amount
per Share for those IIT Shareholders having elected, or deemed to
have elected, for the Rollover Option);
-- the MNKS FAV per Share is 1,035.305776 pence (being the
amount per MNKS Share used in determining the number of New MNKS
Shares to be issued to those IIT Shareholders having elected, or
deemed to have elected, for the Rollover Option);
-- the conversion ratio is 0.438747 New MNKS Shares for each
Share elected, or deemed to have elected, for the Rollover Option;
and
-- the Cash NAV per Share is 441.950363 pence (being the amount
per Share for those IIT Shareholders having elected, or deemed to
have elected, for the Cash Option).
Accordingly, for IIT Shareholders that elected, or are deemed to
have elected, for the Rollover Option, each Share with "A" Rights
will roll over into approximately 0.43875 New MNKS Shares and for
IIT Shareholders that elected, or are deemed to have elected, for
the Cash Option, each Share with "B" Rights will entitle the holder
to 441.95 pence in cash.
Applications have been made by The Monks Investment Trust PLC
for the New MNKS Shares to be admitted to the premium segment of
the Official List of the Financial Conduct Authority and to trading
on the main market for listed securities of the London Stock
Exchange (together, "Admission"). It is expected that Admission
will take place at 8.00 a.m. on 9 November 2022.
Defined terms used in this announcement have the meanings given
in the Circular.
Enquiries:
Liquidators +44 (0) 117 203 3700
Gareth Rutt Morris
Callum Angus Carmichael
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END
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