Perpetual Inc&Growth Statement re Transaction Update

 
TIDMPLI 
 
8 October 2020 
 
               Perpetual Income and Growth Investment Trust plc 
 
                              Transaction update 
 
On 29 July 2020, Perpetual Income and Growth Investment Trust plc (the "Company 
") announced that it had agreed heads of terms for a combination of the assets 
of the Company with Murray Income Trust PLC ("MUT") by means of a section 110 
scheme of reconstruction under the Insolvency Act 1986 (the "Transaction"), 
subject to shareholder approval. 
 
The Company today announces that, as part of the Transaction, it has entered 
into an agreement with MUT's investment manager, Aberdeen Standard Investments, 
whereby Aberdeen Standard Investments via Aberdeen Asset Managers Limited will 
advise the Company on its portfolio realignment and transition plan. The 
agreement is effective from 8 October 2020 and will enable the Company to 
manage the realignment of the Company's portfolio ahead of the scheme of 
reconstruction being implemented and its transition to MUT (the "Transition 
Period"). Aberdeen Standard Investments will not receive a fee from the Company 
for its advisory services, and Invesco Fund Managers Limited will remain the 
Company's alternative investment fund manager until the Company enters 
liquidation. 
 
The portfolio transition and realignment plan aims to ensure that by the end of 
the Transition Period, the Company's portfolio will have been realigned to be 
substantially similar to that of MUT. This will enable the Company's portfolio 
to be combined with MUT under the scheme of reconstruction without further 
material change. 
 
Further information on the Transaction, including the Company's shareholder 
circular and notice of general meetings, is expected to be sent to shareholders 
shortly. 
 
Contacts 
 
Richard Laing, Chairman 
Contact through Winterflood 
 
Winterflood Investment Trusts (Corporate Broker) 
Joe Winkley / Neil Morgan 
Telephone 020 3100 0000 
 
Invesco Fund Managers Limited 
Angus Pottinger 
Telephone 020 3753 0714 
 
Aberdeen Standard Investments 
James Thorneley 
Telephone 0776 855 6334 
 
 
 
END

(END) Dow Jones Newswires

October 08, 2020 11:11 ET (15:11 GMT)

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