§ it has agreed heads of terms with the Board of Threadneedle UK Select Trust Limited (“UKT”) and Henderson Investment Funds Limited (“Henderson”) in respect of the issue of new Ordinary Shares to shareholders in UKT who elect to roll-over their investment, to be effected by way of a scheme of reconstruction of UKT (the “Scheme”); and
§ in the light of ongoing investor demand for the Company's Ordinary Shares, the Company intends, in addition to the issue of new Ordinary Shares in connection with the Scheme, to put in place a prospectus for a 12 month share issuance programme (the “Issuance Programme”), which will enable the Company to issue further new Ordinary Shares at a small premium to net asset value, commencing with an initial offer of new Ordinary Shares at a one per cent. premium to net asset value to complete at the same time as the Scheme.