JDT Jup Ord.

TIDMJDT

RNS Number : 6696Q

Jupiter Dividend & Growth Trust PLC

13 September 2017

Jupiter Dividend & Growth Trust PLC (the "Company")

13 September 2017

Update regarding fixed life

The Company has a planned life under the terms of its articles of association to 30 November 2017.

The Company today announces that it has agreed in principle to proposals with Jupiter UK Growth Investment Trust PLC ("Jupiter UK Growth") under which the Company, through a scheme of reconstruction expected to be effected under section 110 of the Insolvency Act 1986, will be wound up voluntarily and the Shareholders will be offered a choice of:

-- rolling over their investment on a cost and tax efficient rollover into new ordinary shares to be issued by Jupiter UK Growth; &/or

-- electing for a cash exit at their final asset value calculated in accordance with the Company's articles.

Jupiter UK Growth is an investment trust which aims to achieve capital appreciation by principally investing in companies which are listed and/or which undertake a significant proportion of their business in the UK. As well as Jupiter UK Growth offering Shareholders a similar investment exposure, it was important to the Company's consideration that Jupiter UK Growth implements a discount and premium policy under which it uses share buy backs and issues with the intention of ensuring that, in normal market conditions, the market price of its shares tracks their underlying net asset value.

In its planning for the Company's winding up, the Board has been conscious that the final asset value attributable to the Ordinary and Common shares will be sensitive to the costs of any proposals. We are therefore pleased to note that Jupiter has proposed a payment to the Company intended to limit the costs incurred to a level that would be expected on a standalone winding up.

We are planning to publish details of the proposals during October and to convene the necessary shareholder meetings to seek approval in November for the proposals from each of the Company's share classes and from the Company as a whole.

For further information, please contact:

Richard Pavry

Head of Investment Trusts

Jupiter Asset Management Limited, Company Secretary

investmentcompanies@jupiteram.com

020 3817 1496

Numis Securities Limited

Nathan Brown, Corporate Broking and Advisory

n.brown@numis.com

Tel. 020 7260 1426

This information is provided by RNS

The company news service from the London Stock Exchange

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September 13, 2017 10:23 ET (14:23 GMT)

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