INVESCO SELECT TRUST PLC

LEI: 549300JZQ39WJPD7U596

Headline:         Conversion of Shares

The Board of Invesco Select Trust plc (the ‘Company’) announces that valid Conversion Notices have been received in respect of:

45,380 UK Equity Shares
12,686 Global Equity Income Shares
23,076 Balanced Risk Allocation Shares
28,954 Managed Liquidity Shares

The respective Conversion Ratios were as follows:

-      For every UK Equity Share converted, holders will receive 0.789937 Global Equity Income Shares, 1.105378 Balanced Risk Allocation Shares or 1.738584 Managed Liquidity Shares;

-      For every Global Equity Income Share converted, holders will receive 1.265924 UK Equity Shares, 1.399324 Balanced Risk Allocation Shares or 2.200914 Managed Liquidity Shares;

-      For every Balanced Risk Allocation Share converted, holders will receive 0.904668 UK Equity Shares, 0.714631 Global Equity Income Shares or 1.572841 Managed Liquidity Shares;

-      For every Managed Liquidity Share converted, holders will receive 0.575181 UK Equity Shares, 0.454357 Global Equity Income Shares or 0.635792 Balanced Risk Allocation Shares.

The Conversion Ratios, which will be effective on 4 May 2021, are based on the relative net asset values of the Company’s Share classes as at close of business on 22 April 2021.

Individual Shareholders’ entitlements on conversion on 4 May 2021 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 April 2021 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:

-12,320 UK Equity Shares
+24,817 Global Equity Income Shares
-10,816 Balanced Risk Allocation Shares
-16,192 Managed Liquidity Shares
+24,478 Deferred Shares

Based on shares in issue on the 22 April 2021 calculation date, following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be:

23,802,572 UK Equity Shares
23,770,805 Global Equity Income Shares
4,069,095 Balanced Risk Allocation Shares
1,607,679 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:

33,060 UK Equity Shares
37,503 Global Equity Income Shares
12,260 Balanced Risk Allocation Shares
12,762 Managed Liquidity Shares

Dealings in such shares are expected to commence at 8.00 a.m. on 5 May 2021. It is expected that Certificates in respect of the Resulting Shares will be posted by 17 May 2021.

The Deferred Shares arising on the conversion will be cancelled.

All as formally approved by the Board on 29 April 2021.

The remaining conversion dates for 2021 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 6.00pm 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
2 August 2021 23 July 2021
1 November 2021 22 October 2021

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.invesco.co.uk/investmenttrusts and from the Company Secretary.

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29 April 2021

Contact:            Shilla Pindoria   020 3753 1000

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