Personal Assets Trust PLC

Share Issue/Capital Change • Dec 12, 2023

National Storage Mechanism | Additional information

RNS Number : 5369W

Personal Assets Trust PLC

12 December 2023

To:                   RNS

From:              Personal Assets Trust plc

LEI:                  213800Z7ABM7RLQ41516

Date:               12 December 2023

Personal Assets Trust plc 

Publication of Circular and General Meeting

Personal Assets Trust plc (the "Company") operates a discount and premium control mechanism (the "DCM") under which the Company purchases or issues Ordinary Shares to ensure, in normal market conditions, that the Ordinary Shares trade as close as possible to their underlying net asset value per Ordinary Share. The Board believes that the operation of the DCM is fundamental to the Company and as a result the policy is enshrined in the Company's Articles of Association.

The Articles of Association provide that the Directors will operate the DCM subject to the requisite authorities being in place, including both the required shareholder authorities and appropriate levels of distributable profits available to enable the Company to purchase its own shares. Given the level of share issuance since the inception of the DCM the Company has substantial sums standing to the credit of its share premium account which are non-distributable.

Accordingly, the Company has today published and posted to Shareholders a circular convening a general meeting to be held at 11.00 a.m. on 8 January 2024 at the offices of Juniper Partners Limited, 28 Walker Street, Edinburgh EH3 7HR (the "General Meeting"). At the General Meeting a special resolution will be proposed to cancel the amount standing to the credit of the Company's share premium account and have the credit arising in the Company's books of account credited to a new distributable reserve.

A copy of the circular will shortly be available on the Company's website at www.patplc.co.uk and will be available for inspection at the National Storage Mechanism which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Juniper Partners Limited

Company Secretary

Enquiries: 0131 378 0500

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