INVESCO PERPETUAL SELECT TRUST PLC Headline: Conversion of Shares The Board of Invesco Perpetual Select Trust plc (the 'Company') announces that valid Conversion Notices have been received in respect of: 66,966 UK Equity Shares 5,575 Global Equity Income Shares 69,746 Balanced Risk Shares 28,966 Managed Liquidity Shares The respective Conversion Ratios were as follows: * For every UK Equity Share converted, holders will receive 1.071188 Global Equity Income Shares, 1.404828 Balanced Risk Shares or 1.518215 Managed Liquidity Shares; * For every Global Equity Income Share converted, holders will receive 0.933543 UK Equity Shares, 1.311467 Balanced Risk Shares or 1.417319 Managed Liquidity Shares; * For every Balanced Risk Share converted, holders will receive 0.711831 UK Equity Shares, 0.762505 Global Equity Income Shares or 1.080713 Managed Liquidity Shares; * For every Managed Liquidity Share converted, holders will receive 0.658668 UK Equity Shares, 0.705557 Global Equity Income Shares or 0.925315 Balanced Risk Shares. The Conversion Ratios, which will be effective on 1 February 2016, are based on the relative net asset values of the Company's Share classes as at close of business on 21 January 2016. Individual Shareholders' entitlements on conversion on 1 February 2016 will be rounded down to the nearest whole number of Shares. Fractional entitlements will be aggregated and sold in the market. The Shares arising or allotted pursuant to the conversion will rank pari passu with the existing Shares of the relevant class and, for the avoidance of doubt, will not rank for the dividends declared on 14 January 2016 in respect of the UK Equity and Global Equity Income Shares. The net changes to the number of shares outstanding following the conversion and allotments are as follows: -52,730 UK Equity Shares +112,717 Global Equity Income Shares -46,947 Balanced Risk Shares -28,966 Managed Liquidity Shares +26,109 Deferred Shares Following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be: 39,974,244 UK Equity Shares 33,108,029 Global Equity Income Shares 7,335,326 Balanced Risk Shares 5,055,990 Managed Liquidity Shares The Company has applied for the following numbers of Shares arising or allotted pursuant to conversion to be admitted to the Official List and to trading on the London Stock Exchange: 14,236 UK Equity Shares 118,292 Global Equity Income Shares 22,799 Balanced Risk Shares Dealings in such shares are expected to commence at 8.00 a.m. on 2 February 2016. It is expected that Certificates in respect of the Resulting Shares will be posted by 12 February 2016. The Deferred Shares arising on the conversion will be cancelled. . The remaining conversion dates for 2016 and those for 2017 are set out below. Elections for conversion must be received by close of business ten days prior to the respective conversion date. Where that day is not a business day, elections by way of CREST must be transmitted and properly authenticated by 3.00pm on the last preceding business day. Written elections will be accepted if received by the first post on the following business day. Conversion Date Date by which elections for conversion must be received 3 May 2016 23 April 2016 1 August 2016 22 July 2016 1 November 2016 22 October 2016 1 February 2017 22 January 2017 2 May 2017 22 April 2017 1 August 2017 22 July 2017 1 November 2017 22 October 2017 Instructions on how to convert Shares on any conversion date are available on the web pages of all the share classes on the Investment Manager's website: www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary. 28 January 2016 Contact: Angus Pottinger 020 3753 1000
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