INVESCO PERPETUAL SELECT TRUST PLC Headline: Conversion of Shares The Board of Invesco Perpetual Select Trust plc (the `Company') announces that valid Conversion Notices have been received in respect of: 18,389 Global Equity Income Shares 14,962 Balanced Risk Shares 182,495 Managed Liquidity Shares The respective Conversion Ratios were as follows: * For every Global Equity Income Share converted, holders will receive 0.984876 UK Equity Shares, 1.316957 Balanced Risk Shares or 1.551106 Managed Liquidity Shares; * For every Balanced Risk Share converted, holders will receive 0.747842 UK Equity Shares, 0.759326 Global Equity Income Shares or 1.177795 Managed Liquidity Shares; * For every Managed Liquidity Share converted, holders will receive 0.634951 UK Equity Shares, 0.644701 Global Equity Income Shares or 0.849044 Balanced Risk Shares. The Conversion Ratios, which will be effective on 2 February 2015, are based on the relative net asset values of the Company's Share classes as at close of business on 22 January 2015. Individual Shareholders' entitlements on conversion on 2 February 2015 will be rounded down to the nearest whole number of Shares. Fractional entitlements will be aggregated and sold in the market. The Shares arising or allotted pursuant to the conversion will rank pari passu with the existing Shares of the relevant class and, for the avoidance of doubt, will not rank for the dividends declared on 15 January 2015 in respect of the UK Equity and Global Equity Income Shares. The net changes to the number of shares outstanding following the conversion and allotments are as follows: +48,377 UK Equity Shares +79,895 Global Equity Income Shares -14,962 Balanced Risk Shares -182,495 Managed Liquidity Shares +69,190 Deferred Shares Following the conversion, the total number of listed Shares in issue (excluding shares held in treasury) will be: 39,610,257 UK Equity Shares 31,402,944 Global Equity Income Shares 7,669,489 Balanced Risk Shares 5,526,015 Managed Liquidity Shares The Company has applied for the following numbers of Shares arising or allotted pursuant to conversion to be admitted to the Official List and to trading on the London Stock Exchange: 48,377 UK Equity Shares 98,284 Global Equity Income Shares Dealings in such shares are expected to commence at 8.00 a.m. on 3 February 2015. It is expected that Certificates in respect of the Resulting Shares will be posted by 9 February 2015. The Deferred Shares arising on the conversion will be cancelled. . The remaining conversion dates for 2015 are set out below. Elections for conversion must be received by close of business ten days prior to the respective conversion date. Where that day is not a business day, elections by way of CREST must be transmitted and properly authenticated by 3.00pm on the last preceding business day. Written elections will be accepted if received by the first post on the following business day. Conversion Date Date by which elections for conversion must be received 1 May 2015 21 April 2015 3 August 2015 24 July 2015 2 November 2015 23 October 2015 Instructions on how to convert Shares on any conversion date are available on the web pages of all the share classes on the Investment Manager's website: www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary. 28 January 2015
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