27th Feb 2026 10:42
27 February 2026
Franklin Global Trust plc
Legal Entity Identifier: 549300RKB85NFVSTBM94
Result of Second General Meeting and Scheme Entitlements
In connection with the proposals for the scheme of reconstruction and members' voluntary winding-up of Franklin Global Trust plc (the Company or FRGT) under section 110 of the Insolvency Act 1986 (the Proposals), the Board is pleased to announce the result of the Second General Meeting and the Scheme entitlements.
Result of the Second General Meeting
The Company announces that the special resolution to place the Company into members' voluntary liquidation was voted on and approved by Shareholders at the Second General Meeting held earlier today. Accordingly, Laura Waters and Steven Sherry (the Liquidators), both of PricewaterhouseCoopers LLP, have been appointed as joint liquidators of the Company. Details of the number of votes cast for, against and withheld in respect of the resolution, which was held on a poll, are set out below and will also be published on the Company's website https://www.franklinglobaltrust.com/.
The results of the polls were as follows:
RESOLUTION | VOTES FOR (INCLUDING DISCRETIONARY) | % | VOTES AGAINST | % | VOTES TOTAL | % ISC REPRESENTED BY TOTAL VOTES CAST1 | VOTES WITHHELD
|
To place the Company into members' voluntary liquidation in accordance with the Scheme and appoint the Liquidators | 14,013,657 | 99.57% | 59,936 | 0.43% | 14,073,593 | 29.28% | 66,305 |
1 As a percentage of total voting rights
For the purposes of section 341 of the Companies Act 2006, the votes validly cast are expressed in the table above as a percentage of the Company's total voting rights as at 6.00 p.m. on 25 February 2026 (48,072,208), being the time at which a shareholder had to be registered in the Register of Members in order to vote at the Second General Meeting. A vote "withheld" is not a vote in law and has not been counted as a vote "for" or "against" a resolution.
The number of Shares in issue at the date of this announcement is 48,072,208. Therefore, as at the date of this announcement the number of voting rights in the Company are 48,072,208.
The full text of the Resolutions can be found in the notice of Second General Meeting contained in the Company's circular to Shareholders dated 21 January 2026 (the Circular). The Circular is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.franklinglobaltrust.com/.
Suspension and Cancellation of Reclassified Shares
The Company's Reclassified Shares were suspended from listing on the Official List of the Financial Conduct Authority and from trading on the London Stock Exchange at 7.30 a.m. this morning, 27 February 2026, in anticipation of the Second General Meeting.
The Company, through its advisers, will notify the Financial Conduct Authority and the London Stock Exchange of the Company's intention to cancel the Company's admission of the Reclassified Shares to listing and trading as soon as practicable after the Effective Date.
Scheme Entitlements
As at the Calculation Date the entitlements calculated in accordance with the terms of the Scheme were as follows:
· FRGT FAV per Share: 349.865747 pence
· Rollover Pool FAV per Share: 350.136720 pence
· Cash Pool FAV per Share: 342.868432 pence
· IGET FAV per Share: 381.954936 pence
Therefore, Shareholders will receive the following cash and/or number of New IGET Shares.
For Shareholders that are deemed to have elected to receive New IGET Shares:
· each Reclassified Share with "A" rights attached to it will receive 0.916696 New IGET Shares.
Fractional entitlements to New IGET Shares will not be issued under the Scheme and entitlements will be rounded down to the nearest whole number. No cash payment shall be made or returned in respect of any fractional entitlements which will be retained for the benefit of the enlarged IGET.
For Shareholders that elected, or are deemed to have elected, for the Cash Option:
· each Reclassified Share with "B" rights attached to it will receive 342.868432 pence in cash.
As noted in the Circular, the Directors have set aside sufficient assets in the Liquidation Pool to meet all estimated liabilities and contingencies, including the costs of the winding up of the Company and the costs of implementing the Scheme. The Directors have also provided in the Liquidation Pool for a Liquidators' Retention of £100,000 which they, together with the Liquidators, consider sufficient to meet any unknown or unascertained liabilities of the Company.
The Liquidation Pool will be applied by the Liquidators in discharging all current and future actual and contingent liabilities of the Company. The remaining balance of the Liquidation Pool, if any, shall be distributed in cash by the Liquidators pursuant to the Scheme, to all Shareholders (excluding Ordinary Shares held in treasury) (in each case being those Shareholders on the Effective Date in proportion to the respective holdings of Ordinary Shares on the Effective Date other than Dissenting Shareholders) provided that if any such amount payable to any Shareholder is less than £5.00, it shall not be paid to Shareholders but instead shall be retained by the Liquidators for the benefit of IGET.
In accordance with the Circular, Shareholders who held their Shares in uncertificated form at the Record Date and who have elected (or are deemed to have elected) for New IGET Shares will receive their New IGET Shares in uncertificated form on 2 March 2026, although IGET reserves the right to issue such securities in certificated form. Shareholders who held their Shares in certificated form at the Record Date and who have elected (or are deemed to have elected) for New IGET Shares will receive their New IGET Shares in certificated form. It is expected that share certificates in respect of such New IGET Shares will be despatched to the Shareholders entitled thereto not later than 10 Business Days from the Effective Date.
Cheques in respect of the cash amounts due to Shareholders who elect for cash are expected to be despatched to them not later than 10 Business Days from the Effective Date. It is expected that Shareholders who hold their Shares in CREST will receive their cash entitlements through CREST not later than 10 Business Days from the Effective Date.
Following the appointment of the Liquidators, all further enquiries regarding the Company should be made to the Liquidators, whose contact details are below.
For further information please contact:
Liquidators
Laura Waters [email protected] Steven Sherry
Related Shares:
Franklin Glb A