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Invesco Perpetual UK Smaller Companies Investment Trust PLC has announced a return of capital to shareholders, following its initial announcement on May 22, 2024. The Board is pleased to offer this return, which involves up to 10 percent of the company's issued shares (excluding treasury shares), through an elective Special Dividend along with the cancellation of the shares on which the dividend is paid.
Special Dividend Details
The Special Dividend will be available to all shareholders who opt to receive it, contingent upon them relinquishing the corresponding part of their shareholdings. Shareholders who elect to receive the Special Dividend will be offered an amount equivalent to 97.5 percent of the Net Asset Value (NAV) per share as of the NAV Certification Date.
This elective approach ensures that shareholders can choose to participate based on their individual preferences and investment strategies.
Circular and General Meeting
The company has published a Circular detailing the background and specifics of the Special Dividend proposals. This document provides comprehensive information about the terms of the Special Dividend offer and instructions on how shareholders can elect to receive the dividend if they wish.
Additionally, the Circular includes a notice for a General Meeting, which will be held at 11:00 a.m. on August 5, 2024, at 43-45 Portman Square, London, W1H 6LY. During this meeting, the company will seek shareholder approval to proceed with the payment of the Special Dividend and, conditional upon the approval of the Court, to cancel the shares on which the dividend is paid without any consideration.
Steps for Shareholders
Shareholders interested in participating in the Special Dividend offer are encouraged to review the Circular for detailed instructions on how to make their election. Participation in the Special Dividend is entirely voluntary, providing flexibility for shareholders to decide based on their investment objectives.
The General Meeting will provide a platform for shareholders to voice their opinions and cast their votes on the proposed return of capital. The Board looks forward to receiving shareholder support for this initiative, which is designed to deliver value back to the shareholders.
