Montanaro European Smaller Companies Trust Plc
LEI: 213800CWSC5B8BG3RS21
Share Split and Block Listing Application
Share Split
On 18 June 2021, the Board of Montanaro European Smaller Companies Trust Plc (the "Company") published its annual report setting out its intentions to undertake a sub-division of each ordinary share of 50 pence each ("Existing Ordinary Shares") into 10 new ordinary shares of 5 pence each ("New Ordinary Shares") (the "Share Split"). At the Company's Annual General Meeting held on 9 September 2021, shareholders approved the Share Split.
The last day of trading in the Existing Ordinary Shares will be today, 13 September 2021, following which the Share Split will take effect and it is expected that the New Ordinary Shares will be admitted to trading on the premium segment of the Main Market of the London Stock Exchange at 8.00 a.m. on 14 September 2021.
Shareholders will receive 10 New Ordinary Shares in exchange for each Existing Ordinary Share held at the Record Date. CREST accounts are expected to be credited with New Ordinary Shares on Tuesday, 14 September 2021 and share certificates in respect of the New Ordinary Shares are expected to be posted to shareholders no later than Tuesday, 28 September 2021.
The New Ordinary Shares will have a new ISIN and SEDOL, as follows:
New ISIN: GB00BM8H3X05
New SEDOL: BM8H3X0
The ticker for the New Ordinary Shares will remain the same as the ticker for the Existing Ordinary Shares (MTE). The New Ordinary Shares will rank pari passu with each other and will be subject to the same rights and restrictions as the Existing Ordinary Shares.
The Company currently has 17,968,260 Existing Ordinary Shares in issue and no shares held in treasury. On this basis, in accordance with the Financial Conduct Authority's ("FCA") Disclosure Guidance and Transparency Rule 5.6, the Company advises that, following the completion of the Share Split, as at Tuesday, 14 September 2021 the Company will have 179,682,600 New Ordinary Shares in issue.
A document containing frequently asked questions on Share Splits can be found on the Company's website at www.montanaro.co.uk/trust/montanaro-european-smaller-companies-trust.
Block Listing Application
Subsequent to the Share Split, the Company has made an application to the FCA and the London Stock Exchange to increase its block listing facility commensurate with the share split. Application has therefore been made for 11,533,260 Ordinary Shares of 5 pence each (the "Shares") to be admitted to the Official List, and to trading on the premium segment of the Main Market of the London Stock Exchange.
The Shares may be issued under the block listing from time to time to satisfy investor demand and to manage the premium to net asset value at which the Shares trade. When issued, the Shares will rank pari passu in all respects with the existing issued Shares of the Company.
Admission is expected to become effective at 8:00a.m. on 16 September 2021.
All Enquiries:
Montanaro Asset Management Ltd
T: +44 20 7448 8600
Georgina Gearing-Bell
Link Company Matters Limited
Company Secretary
T: 020 7954 9531
Andrew Worne / Will Talkington: 020 7397 8900
Cenkos
Broker
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