REG-Invesco Global Equity Income Trust Plc: Results of the Scheme and Issue of New Shares

Invesco Global Equity Income TrustAnnouncement

27/02/2026 11:00

27 February 2026

 

INVESCO GLOBAL EQUITY INCOME TRUST PLC

LEI: 549300JZQ39WJPD7U596

 

Results of the Scheme and Issue of New Shares

 

The Board of Invesco Global Equity Income Trust plc (the "                    
Company                    " or "                     IGET                   
") is pleased to announce that it will acquire approximately £162 million of
assets from Franklin Global Trust plc ("                     FRGT             
      "), in consideration for the issue of 42,424,132 new ordinary shares in
the capital of the Company (the "                     New Shares              
     "), pursuant to the scheme of reconstruction and members' voluntary
winding up of FRGT under section 110 of the Insolvency Act 1986 (the "        
            Scheme                    ").

Under the terms of the Scheme, elections for the Rollover Option were received
in respect of 96.3% of the issued share capital of FRGT.

FAV and Exchange Ratio

The Rollover Pool FAV per FRGT Share was calculated as 350.136720 pence and
the IGET FAV per Share was calculated as 381.954936 pence. Each FAV per Share
was calculated as at the Calculation Date in accordance with the details set
out in the circular published to shareholders on 21 January 2026 (the
"Circular").

Accordingly, the exchange ratio under the Scheme was 0.916696 New Shares for
each FRGT Share elected for the Rollover Option.

Fractional entitlements to New Shares will not be issued and entitlements will
be rounded down to the nearest whole number of New Shares. No cash payments
will be made in respect of fractional entitlements, which will be retained for
the benefit of the Company.

The New Shares will rank equally in all respects with the existing ordinary
shares of the Company other than in respect of any dividends which have a
record date prior to Admission.

Board Appointment

As previously announced, Christopher Metcalfe, the Chair of FRGT, will join
the Board of IGET as a non-executive Director with effect from the Effective
Date. Mr Metcalfe is the senior independent non-executive director of JPMorgan
US Smaller Companies Investment Trust plc and a non-executive director of CT
UK Capital and Income Investment Trust plc and Herald Investment Trust plc. He
was previously a non-executive director of abrdn Smaller Companies Income
Trust plc.

Mr. Metcalfe brings extensive global equity fund management and investment
trust experience, together with significant knowledge of UK investors and the
listed investment company sector. The Board believes his appointment will
further strengthen the governance and oversight of the Enlarged Company.

Mr Metcalfe held 8,600 FRGT Shares which are subject to the Rollover Option. A
further announcement confirming his entitlement to New Shares (expected to
number approximately 7,883) will be published following 2 March 2026.

No further details are required to be disclosed under UKLR 6.4.8R.

Admission and Dealings

An application has been made for the New Shares to be admitted to trading on
the London Stock Exchange's main market for listed securities.

It is expected that admission will become effective and that dealings in the
New Shares will commence on or soon after 8.00 a.m. on 2 March 2026.

CREST accounts of FRGT Shareholders are expected to be credited with the New
Shares as soon as reasonably practical on 2 March 2026. Share certificates in
respect of New Shares are expected to be despatched not later than 10 Business
Days from the Effective Date.

Total Voting Rights

Following Admission of the New Shares, the Company's issued share capital will
comprise 121,956,314 ordinary shares (excluding shares held in treasury). Each
ordinary share carries one vote.

All defined terms used herein shall have the meanings given to them in the
Circular

 

Expected Timetable

                                                                                                                                                            2026                                                                                                                                                         
 Effective Date for implementation of the Scheme                                                                                                            27 February                                                                                                                                                  
 Dealings commence in the New Shares    CREST accounts credited with New Shares    Certificates despatched in respect of New Shares                         on or soon after 8.00 a.m. on 2 March  As soon as reasonably practical on 2 March  not later than 10 Business Days from the Effective Date                   
 Note  :  All references to time in this document are to UK time. Each of the times and dates in the above expected timetable may be extended or brought forward. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders through an RIS announcement.        

 

Enquiries:

 Invesco Global Equity Income Trust plc   Sue  Inglis, Chair                                                                                                                         Via Invesco Asset Management Limited  
 Invesco Fund Managers Limited   (Manager, IGET)  Will Ellis/John Armstrong-Denby                                                                                                    020 7543 3500                         
 Invesco Asset Management Limited   (Company Secretary, IGET)  James  Poole                                                                                                          020 7543 3559                         
 Cavendish   (Financial Adviser and Corporate Broker to IGET)  Robert Peel, Oscar Valeur-Adu |  Corporate Finance   Justin Zawoda-Martin, Daniel Balabanoff, Pauline Tribe |  Sales  020 7220 0572                         

 



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