Result of Tender offer

CHELVERTON GROWTH TRUST PLC - Result of Tender offer

PR Newswire

London, December 18

This announcement is made further to the circular to shareholders issued by theCompany on 6 November 2012 concerning the tender offer by Merchant SecuritiesLimited to purchase up to 10 per cent. of the issued ordinary shares in theCompany (the "Tender Offer"), which was approved by shareholders at the annualgeneral meeting held on 13 December 2012.

The tender price (which is calculated as being equal to 92.5 per cent. of thenet asset value per share on 14 December 2012; 41.06 pence per ordinary share)is 37.98 pence per ordinary share.

Valid applications were received from eligible shareholders, being shareholderson the register at close of business on 14 December 2012, by the closing datein respect of a total of 1,188,428 ordinary shares (representing approximately10 per cent of the Company's issued ordinary share capital at the record date).In accordance with the terms and conditions of the Tender Offer, the Companyhas accepted in full all applications made by shareholders up to their 10 percent basic entitlement. As certain shareholders did not take up their 10 percent basic entitlement, the Company has also accepted, in part, thoseshareholders who applied for an amount in excess of their 10 per cent basicentitlement, scaled back on a pro rata basis of 3.92 per cent.

Pursuant to the Tender Offer, 1,188,428 ordinary shares being 10 per cent ofthe issued ordinary shares will be repurchased and cancelled with settlement on14 January 2013. On the same date the Company will cancel 100,000 ordinaryshares held in treasury.

As a result of the above, there will be 10,595,855 ordinary shares of 1p eachin issue and circulation. The above figure may be used from 14 January 2013, byshareholders as the denominator for the calculations by which they willdetermine if they are required to notify their interest in, or a change totheir interest in, the Company under the FSA's Disclosure and TransparencyRules.