PR Newswire
LONDON, United Kingdom, February 27
27 February 2026
INVESCO GLOBAL EQUITY INCOME TRUST PLC
LEI: 549300JZQ39WJPD7U596
Results of the Scheme and Issue of New Shares
The Board of Invesco Global Equity Income Trust plc (the “Company” or “IGET”) is
pleased to announce that it will acquire approximately £162 million of assets
from Franklin Global Trust plc (“FRGT”), in consideration for the issue of
42,424,132 new ordinary shares in the capital of the Company (the “New Shares”),
pursuant to the scheme of reconstruction and members’ voluntary winding up of
FRGT under section 110 of the Insolvency Act 1986 (the “Scheme”).
Under the terms of the Scheme, elections for the Rollover Option were received
in respect of 96.3% of the issued share capital of FRGT.
FAV and Exchange Ratio
The Rollover Pool FAV per FRGT Share was calculated as 350.136720 pence and the
IGET FAV per Share was calculated as 381.954936 pence. Each FAV per Share was
calculated as at the Calculation Date in accordance with the details set out in
the circular published to shareholders on 21 January 2026 (the “Circular”).
Accordingly, the exchange ratio under the Scheme was 0.916696 New Shares for
each FRGT Share elected for the Rollover Option.
Fractional entitlements to New Shares will not be issued and entitlements will
be rounded down to the nearest whole number of New Shares. No cash payments will
be made in respect of fractional entitlements, which will be retained for the
benefit of the Company.
The New Shares will rank equally in all respects with the existing ordinary
shares of the Company other than in respect of any dividends which have a record
date prior to Admission.
Board Appointment
As previously announced, Christopher Metcalfe, the Chair of FRGT, will join the
Board of IGET as a non-executive Director with effect from the Effective Date.
Mr Metcalfe is the senior independent non-executive director of JPMorgan US
Smaller Companies Investment Trust plc and a non-executive director of CT UK
Capital and Income Investment Trust plc and Herald Investment Trust plc. He was
previously a non-executive director of abrdn Smaller Companies Income Trust plc.
Mr. Metcalfe brings extensive global equity fund management and investment trust
experience, together with significant knowledge of UK investors and the listed
investment company sector. The Board believes his appointment will further
strengthen the governance and oversight of the Enlarged Company.
Mr Metcalfe held 8,600 FRGT Shares which are subject to the Rollover Option. A
further announcement confirming his entitlement to New Shares (expected to
number approximately 7,883) will be published following 2 March 2026.
No further details are required to be disclosed under UKLR 6.4.8R.
Admission and Dealings
An application has been made for the New Shares to be admitted to trading on the
London Stock Exchange’s main market for listed securities.
It is expected that admission will become effective and that dealings in the New
Shares will commence on or soon after 8.00 a.m. on 2 March 2026.
CREST accounts of FRGT Shareholders are expected to be credited with the New
Shares as soon as reasonably practical on 2 March 2026. Share certificates in
respect of New Shares are expected to be despatched not later than 10 Business
Days from the Effective Date.
Total Voting Rights
Following Admission of the New Shares, the Company’s issued share capital will
comprise 121,956,314 ordinary shares (excluding shares held in treasury). Each
ordinary share carries one vote.
All defined terms used herein shall have the meanings given to them in the
Circular
Expected Timetable
2026
Effective Date for 27 February
implementation of the
Scheme
Dealings commence in the on or soon after 8.00 a.m. on 2 March
New Shares
As soon as reasonably practical on 2 March
CREST accounts credited
with New Shares not later than 10 Business Days from the Effective
Date
Certificates despatched
in respect of New Shares
Note: All references to
time in this document
are to UK time. Each of
the times and dates in
the above expected
timetable may be
extended or brought
forward. If any of the
above times and/or dates
change, the revised
time(s) and/or date(s)
will be notified to
Shareholders through an
RIS announcement.
Enquiries:
Invesco Global Equity Income Via Invesco Asset Management Limited
Trust plc
SueInglis, Chair
Invesco Fund Managers Limited 020 7543 3500
(Manager, IGET)
Will Ellis/John Armstrong-Denby
Invesco Asset Management 020 7543 3559
Limited
(Company Secretary, IGET)
JamesPoole
Cavendish 020 7220 0572
(Financial Adviser and
Corporate Broker to IGET)
Robert Peel, Oscar Valeur-Adu |
Corporate Finance
Justin Zawoda-Martin, Daniel
Balabanoff, Pauline Tribe |
Sales
This information was brought to you by Cision http://news.cision.com
