2nd Apr 2014 16:54
The World Trust Fund
Allotment of ordinary shares
Further to the announcement made earlier today, The World Trust Fund (the "Company") announces that it has been informed by the trustee, appointed by the Company in accordance with the terms of the warrant instrument dated 11 August 2011 (the “Warrant Instrument”), that it has exercised all the outstanding warrants. A total of 7,794,037 ordinary shares have therefore been issued and allotted, subject to listing, following the final exercise date. The ordinary shares rank pari passu with the existing ordinary shares in issue.
Following the exercise of rights by the trustee, 2,484,909 ordinary shares have today been sold at a price of 213p per ordinary share. In accordance with the terms of the Warrant Instrument, holders on whose behalf the trustee has exercised rights and sold the resulting ordinary shares, will receive the net proceeds of such sale over the subscription price, less associated costs and expenses, as soon as practicable (except for aggregate entitlements of less than $5.00, which will be retained by the Company).
Applications will be made to the UK Listing Authority (the “UKLA”) and the London Stock Exchange (the “LSE”) for the ordinary shares arising from the exercise of all subscription rights to be admitted to the premium segment of the Official List and to trading on the main market of the LSE. It is expected that admission and commencement of dealings in the ordinary shares will take place on 7 April 2014.
Application has been made to the UKLA and the LSE for the warrants to be cancelled from the Official List and trading on the LSE with effect from 8.00 a.m. on 5 May 2014.
Following the allotment of the ordinary shares referred to above, with effect from admission, the Company's issued ordinary share capital will consist of 57,819,622 ordinary shares with voting rights (including 10,211,277 ordinary shares which are held in treasury). The Company has been advised that under the Luxembourg Transparency Law of 11 January 2008, shares held in treasury are required to be included in the denominator to be used by shareholders in their shareholding announcements.
Accordingly, the above figure (57,819,622) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interests in, the Company in accordance with the Luxembourg Transparency Law of 11 January 2008 on transparency requirements for issuers of securities.
Enquiries
| State Street Bank Luxembourg |
| Isabelle Charlier |
| Tel: +352 46 40 10 7068 |
Westhouse Securities Limited
Financial Adviser and Broker
Alastair Moreton / Hannah Young / Darren Vickers
Tel: +44(0) 20 7601 6118
Listing Category: Premium – Equity Closed-ended Investment Fund
Copyright Business Wire 2014
Related Shares:
WTR.L