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Company Announcements

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY   OR INDIRECTLY, TO U.S. PERSONS OR IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN.  

 

19 April 2024

 

Invesco Select Trust plc

 

Tender Prices and Tender Purchases

 

The Board of Invesco Select Trust plc (the “ Company ”) is pleased to announce the Tender Prices, which have been calculated in accordance with the Circular published on 15 February 2024 (the “ Circular ”).   The Tender Prices and the number of each Share class to be repurchased are as follows:    

  

 _____________________________________________________________________________
|                             |Tender Prices (pence per|Number of Shares to be|
|                             |Share)                  |purchased             |
|_____________________________|________________________|______________________|
|UK Equity Share Class        |191.4796p               |9,985,591             |
|_____________________________|________________________|______________________|
|Balanced Risk Share Class    |154.5140p               |714,610               |
|_____________________________|________________________|______________________|
|Managed Liquidity Share Class|110.3309p               |417,453               |
|_____________________________|________________________|______________________|

 

 

In accordance with the terms of the Tender Offer, the Shares will be purchased by Winterflood on 23 April 2024 and all such Shares will then be repurchased by the Company pursuant to the Repurchase Agreement and cancelled.   Payment of Tender Offer proceeds will be made to Shareholders through CREST and cheques for certificated Shareholders will be despatched on 29 April 2024.

 

The Company expects to make further announcements in relation to the reclassification of non-Global Shares into Global Shares in due course.

 

Total voting rights

 

Following the repurchase of Shares pursuant to the Tender Offers the following Shares in each Share class are in issue:

 

56,585,022   UK Equity Shares of 1p each plus 40,026,118 UK Equity Shares held in Treasury;

25,546,911 Global Equity Income Shares of 1p each plus 16,930,122 Global Equity Income Shares held in Treasury;

3,295,141 Balanced Risk Allocation Shares of 1p each plus 6,547,218 Balanced Risk Allocation Shares held in Treasury; and

899,839 Managed Liquidity Shares of 1p each plus 9,393,678 Managed Liquidity shares held in Treasury.

 

The number of votes per share of each class vary with the net asset value (NAV) of the respective underlying portfolio and is determined in accordance with the following formula:

 

V = A / B

 

Where

V is the number of votes for each share of a particular class;

A is the portfolio NAV for the relevant share class; and

B is the number of shares of the relevant class in issue (excluding Treasury shares).

 

The value of A / B (the net asset value per share) for each class is calculated and announced (expressed in pence) daily.

 

Applying the NAV per share as at 17 April 2024 for each share class the resultant voting rights are as follows: 


                                Shares in issue      NAV applied Voting Rights
                                (excluding treasury)

UK Equity Shares                56,585,022           193.58p     109,537,285

Global Equity Income Shares     25,546,911           305.65p     78,084,133

Balanced Risk Allocation Shares 3,295,141            157.33p     5,184,245

Managed Liquidity Shares        899,839              113.46p     1,020,957

Total                                                            193,826,620

 

Terms used and not defined in this announcement shall have the meaning given to them in the Circular.

 

Enquiries:

  

        Invesco Asset Management Limited  +44 (0) 20 7543 3559

James Poole, Company Secretary

Invesco Fund Managers Limited     +44 (0)20 7543 3500

Will EllisJohn Armstrong-DenbyWinterflood Securities Limited    +44 (0) 20 3100 0000

Neil MorganDarren WillisCavendish Capital Markets Limited +44 (0) 20 7397 8900

James KingWill Talkington