EUROPEAN ASSETS TRUST PLC

Notice of Dividend Amount • Oct 1, 2020

National Storage Mechanism | Additional information

RNS Number : 6581A

European Assets Trust PLC

01 October 2020

To:                          RNS

From:                    European Assets Trust PLC

Date:                     1 October 2020

LEI:                         213800N61H8P3Z4I8726

October Quarterly Dividend

European Assets Trust PLC ("the Company") announces that a dividend of 1.755 pence per share will be paid on 30 October 2020 to shareholders on the register on 9 October 2020, having an ex-dividend date of 8 October 2020. 

In addition, the Company has paid dividends in January, April and July 2020.  These four interim dividends, with a cumulative total of 7.02 pence per share, provide an annual payment to shareholders representing six per cent of the closing net asset value per share of the Company as at 31 December 2019.

As at 29 October 2020, the latest practicable date prior to publication of this announcement, €30 million of the Company's €45 million multi-currency loan facility with RBSI was undrawn. In addition, as at that date, the Company had a cash balance of €16.7 million and a Distributable Reserve of £360 million.

Scrip dividend scheme ("the Scheme")

The Board of the Company has taken the decision, reluctantly, to terminate the Scheme following payment of the Company's fourth quarterly interim dividend on 30 October 2020.

It has been necessary to take this decision as, due to the low take up of the scrip dividend option, the cost burden has resulted in the Scheme becoming uneconomic.  Shareholders who elect for scrip dividends have received a mailed communication.  A copy of this communication is also available on the Company's website www.europeanassets.co.uk.

The termination of the scrip dividend scheme has no impact for shareholders who have elected to receive their dividends in cash or reinvest their dividends through an investment platform or savings scheme.

Enquiries:

Scott McEllen

BMO Investment Business Limited                          Tel:  0207 628 8000

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