BlackRock Throgmorton Trust to Distribute Final Cash Dividend of £0.27 Per Share in Members' Voluntary Liquidation

Liquidation Process and Shareholder Consent

Following a special resolution passed at the General Meeting on 16 April 2026, BlackRock Throgmorton Trust plc commenced members' voluntary liquidation. This step was part of a broader plan to merge with BlackRock Smaller Companies Trust plc, as recommended in formal proposals dated 20 February 2026 and approved by shareholders. The liquidation marks a major restructuring, allowing investors to choose between a Cash Entitlement or transferring shares to the successor trust.

Derek Hyslop and Richard Barker were appointed Joint Liquidators under the members' voluntary winding-up procedure, establishing governance for asset distribution. Both hold current licences from The Insolvency Practitioners Association, ensuring professional oversight and fair treatment of stakeholders. Comprehensive scheme documentation was provided to shareholders to guide their election between Cash Entitlement and alternative options.

Cash Pool Valuation and Composition as of Calculation Date

The Cash Pool, underpinning distributions to Cash Entitlement shareholders, was valued at £183,753,873 on 9 April 2026. It included equities worth £170,173,138, cash collateral totaling £11,480,936, and accrued dividend income of £2,099,799. A total of 28,512,678 shares elected for the Cash Pool, forming the basis for per-share distribution calculations. This breakdown highlights the trust’s equity exposure and liquidity, with accrued dividends enhancing shareholder returns.

Interim Dividend and Total Return Surpassing Fair Value

An interim cash dividend of £6.30 per share was distributed on 12 June 2026, totaling £179,629,871.40, providing significant liquidity during the liquidation. This phased distribution allowed the Joint Liquidators to manage asset realisation effectively while assuring shareholders of payment timing and amounts. The final dividend of £0.270972 per share, combined with the interim payment, results in a total cash return of £6.570972 per share, exceeding the Cash Fair Alternative Value of £6.44463741 per share published on 16 April 2026. This outperformance reflects efficient liquidation management, offering shareholders returns above the initial benchmark.

Final Dividend Payment Details and Shareholder Access

The concluding cash dividend of £0.270972 per share, totaling £7,726,135.79, will be paid on 31 July 2026, completing the capital return for Cash Entitlement shareholders. The payment reflects an equitable distribution across 28,512,678 shares in the Cash Pool. Payments will default to cheque unless shareholders have provided bank details to Computershare, the appointed registrar. Shareholders can update their banking information via the Computershare investor portal at www.investorcentre.co.uk using their shareholder reference number (SRN) found on share certificates to facilitate direct bank transfers.

Professional Credentials and Regulatory Compliance of Joint Liquidators

Joint Liquidators Derek Hyslop and Richard Barker hold licences from The Insolvency Practitioners Association, confirming their adherence to professional standards and ongoing development. They are governed by the Insolvency Code of Ethics, ensuring conduct, competence, and client care throughout the liquidation. This regulatory framework guarantees shareholders that the process complies with ethical and professional requirements.

Regarding data protection, the Joint Liquidators act as data controllers under the UK General Data Protection Regulation and Data Protection Act 2018. Ernst & Young LLP may serve as a data processor supporting the liquidation. Shareholder data is securely handled solely for liquidation administration. Further details are available in the Office Holder Data Privacy Notice at www.ey.com/uk/officeholderprivacy.

Shareholder Support and Communication Channels

Shareholders with questions about distributions, the liquidation, or their holdings can contact the administration team via email at [email protected]. The Computershare portal at www.investorcentre.co.uk offers 24/7 access to shareholding information, contact updates, and payment preference management. Updating banking details online can expedite receipt of the final dividend compared to cheque payments, providing flexibility and convenience during the liquidation.

Investment Trust Background and Liquidation Context

BlackRock Throgmorton Trust plc operated as a UK investment trust, offering diversified portfolios managed by professionals. The liquidation and merger with BlackRock Smaller Companies Trust plc reflect sector consolidation trends aimed at operational efficiency and alignment with investor needs. The members' voluntary liquidation is a solvent company’s formal winding-up process, ensuring orderly asset distribution and shareholder control. Shareholders chose between cash proceeds or transferring shares to the successor trust, with cash returns evidencing asset realisation performance during the trust’s final phase.

Scheme Documentation and Shareholder Approval Process

Scheme documentation dated 20 February 2026 detailed the voluntary winding-up and merger proposals, including fair value assessments, timelines, and costs. This ensured shareholders had full information for informed decisions. The special resolution passed on 16 April 2026 required 75% shareholder approval, reflecting strong support. This authorized the Joint Liquidators’ appointment and initiated the liquidation, with distributions following the scheme and legal procedures.