Company Announcements

DIVERSE INCOME TRUST PLC (the "Company")

 

Redemption of Ordinary Shares and Total Voting Rights

 

The Company has a redemption facility through which shareholders are entitled to request the redemption of all or part of their holding of ordinary shares of 0.1 pence each ("Ordinary Shares") on an annual basis (the "Redemption Facility"). The operation of the Redemption Facility is entirely at the discretion of the board of directors of the Company (the "Board"). The deadline for the 31 May 2024Redemption Point was 1 May 2024.

 

As announced on 3 May 2024, the total number of Ordinary Shares in respect of which valid redemption requests were received for the 31 May 2024Redemption Point was   82,147,477 Ordinary   Shares (representing   25.788% of the issued share capital) (the "Redemption").

 

The Board has resolved to effect the Redemption using the redemption pool method set out in the Company's articles of association (the "Articles").

 

The Company has divided its assets and liabilities into two pools:

 

(i)                   the redemption pool, which will consist of cash, assets and liabilities attributable to the   82,147,477 Ordinary   Shares   over which valid redemption requests were made ("Redemption Pool" and "Redemption Shares"); and

 

(ii)                 all the other cash, assets and liabilities will be attributable to the remaining shareholders and will continue to be managed in accordance with the current investment policy.

 

Following this division, the Redemption Shares were redeemed on 31 May 2024 and upon such redemption are treated as cancelled; former holders of the Redemption Shares are now creditors of the Company.

 

The assets of the Redemption Pool will be liquidated and the Redemption Price per Ordinary Share will equal the aggregate cash received by the Company upon the realisation of the Redemption Pool, after deducting the costs of the redemption, which will be borne by the pool, an adjustment for any attributable unsettled liabilities and a pro-rata share of the costs and expenses of the Company not attributable to a particular pool, divided by the number of Redemption Shares, as set out in the Articles.

 

It should be noted that the liquidation of the Redemption Pool is expected to take some weeks or months, and the final capital sum may differ from the Company's net asset value per Ordinary Share at the Redemption Point depending on market conditions.

 

Further announcements in respect of the Redemption Pool will be made when appropriate.

 

 

Total Voting Rights

 

As at 31 May 2024, following the cancellation of the Redemption Shares, the Company's issued share capital consists of 236,393,165 Ordinary Shares and 50,000 management shares of £1 each. The Company does not hold any shares in treasury. As at 31 May 2024, the total number of voting rights in the Company is 236,393,165.

 

The above figure (236,393,165) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Defined terms in the announcement have the same meaning as set out in the Articles of Association, a copy of which may be obtained from the Company Secretary.

 

3 June 2024

 

 

Contact details:

 

Premier Miton Group plc

Gervais Williams        gervais.williams@premiermiton.com 01483 306090

Martin Turner           martin.turner@premiermiton.com

Claire Long             claire.long@premiermiton.com

Panmure Gordon

Alex Collins            Alex.collins@panmure.com          020 7886 2767

 

LEI:   2138005QFXYHJM551U45