Capital Gearing Trust PLC

Share Issue/Capital Change • Dec 16, 2022

National Storage Mechanism | Additional information

Capital Gearing Trust Plc - Block Listing Application

PR Newswire

London, December 16

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

LEI:      213800T2PJTPVF1UGW53

From:   Capital Gearing Trust P.l.c.

Date:    16 December 2022

Capital Gearing Trust P.l.c. (the "Company")

Block Listing Application and Discount Control Policy Update

Under the Company’s discount and premium control policy, the Company aims to purchase or issue shares to ensure, in normal market conditions, that the shares trade consistently close to their underlying net asset value per share. The Company has experienced a high level of demand for its shares and anticipates that if the current rate of issuance continues, the relevant prospectus exemption limits required to operate this policy are likely to be exhausted.

Following the publication of a prospectus by the Company earlier today (the "Prospectus"), the Company has also today made an application to the Financial Conduct Authority and the London Stock Exchange for the block listing of 15,000,000 ordinary shares of 25 pence each for the purposes of operating its discount and premium control policy (the "Block Listing").

Any shares issued in connection with the Block Listing will, when issued, rank pari passu with the existing ordinary shares of the Company and will be issued at prices which shall be at a premium to net asset value and therefore will not result in a dilution of the net asset value per share of the Company.

All enquiries:

Juniper Partners Limited

Company Secretary

Email: company.secretary@capitalgearingtrust.com