TIDMMNTN TIDMMNTC

RNS Number : 7522L

Schiehallion Fund Limited (The)

07 September 2023

The Schiehallion Fund Limited

(the "Company")

Legal Entity Identifier: 213800NQOLJA1JCWXQ56

C Share Conversion Ratio

Further to the announcement on 3 August 2023, the Company is pleased to announce the Conversion Ratio on the basis of the respective Net Asset Values of the Ordinary Shares and the C Shares as at the Conversion Calculation Date, being 31 August 2023.

 
 Net Asset Value per Ordinary   106.14 cents 
  Share 
 Net Asset Value per C Share    80.68 cents 
 Conversion Ratio               0.7601 Ordinary shares for each 
                                 C Share

The number of New Ordinary Shares to be issued as a result of Conversion will be calculated based on the register at 6.00 p.m. on 8 September 2023 and is expected to be announced on 11 September 2023. The holders of C Shares will not be entitled to fractions of New Ordinary Shares arising on Conversion. Instead, the number of New Ordinary Shares to be issued to each holder will be rounded down to the nearest whole number of Ordinary Shares and fractional entitlements will be disregarded, with any value attributable to them being retained for the benefit of the Company. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares, including the right to receive all future dividends or distributions declared in respect of the Ordinary Shares.

Application has been made for the New Ordinary Shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market ("Admission"). It is now expected that admission will become effective and that dealings in the New Ordinary Shares will commence at 8:00 a.m. on 12 September 2023 (rather than 11 September 2023, as indicated in the announcement on 3 August 2023).

Application will also be made to cancel the C Shares from trading on the London Stock Exchange as soon as reasonably practicable following Conversion.

Expected timetable

 
 Event                                            Date 
 Conversion record date                           6:00 p.m. on 8 September 
                                                   2023 
 Cancellation of C Shares                         As soon as reasonably 
                                                   practicable following 
                                                   conversion 
 Admission of new Ordinary Shares on Conversion 
  and dealings commence                             8:00 a.m. on 12 September 
                                                    2023 
 Crediting of CREST accounts with new             12 September 2023 
  Ordinary Shares 
 Share Certificates in respect of new             w/c 18 September 2023 
  Ordinary Shares despatched

Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Prospectus.

Baillie Gifford & Co Limited

7 September 2023

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END

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September 07, 2023 07:25 ET (11:25 GMT)

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