PR Newswire
London, May 6
TO: PR Newswire
FROM: CAPITAL GEARING TRUST P.L.C.
Publication of Prospectus
Further to the circular sent to shareholders on 24 March 2016 Capital Gearing Trust P.l.c. (the
"Company") has today published a prospectus approved by the UK Listing Authority in relation to the issue of new ordinary
shares in the capital of the Company (the "New Shares") up to an aggregate nominal value of £750,000 (representing 3
million ordinary shares of 25 pence each). The prospectus is required to allow the Company to
issue New Shares in accordance with its discount and premium management policy and will be valid for 12 months from the date of
publication. It is currently intended that the New Shares will be issued only: (i) at a premium to the net asset value per
share; (ii) to meet demand from investors; and (iii) when the Directors believe that it is in the best interests of the Company
to do so.
Under the Company’s existing shareholder authorities the Company currently has unutilised authority to issue up to 202,322 New
Shares on a non pre-emptive basis. This authority will be renewed at the annual general meeting to be held in 2016.
If there is continuing demand for New Shares such that the Directors consider the Company could exhaust such authority prior to
the annual general meeting in 2017 the Directors may consider convening a general meeting of the Company to seek additional
authority to issue New Shares and provide for the continued operation of the discount and premium management policy. Since
the adoption of the discount and premium management policy in 2015 the Company has bought back 9,450 shares, all of which has
been re-issued from treasury and issued 390,559 new shares.
The Company currently has in place a block listing facility in connection with the operation of its discount and premium
management policy. It is the intention that this facility will be renewed when the current facility is exhausted.
A copy of the prospectus will shortly be available for inspection at the National Storage Mechanism which is located at
http://www.morningstar.co.uk/uk/nsm.do.
The prospectus is also available in electronic form on the Company's website at www.capitalgearingtrust.com and available for collection, free of charge, during normal business hours on any
working day (Saturday, Sunday and public holidays excepted) until 6 May 2017 from the offices of
Dickson Minto W.S., Broadgate Tower, 20 Primrose Street, London
EC2A 2EW and from the registered office of the Company.
All enquiries:
Steven Cowie
Company Secretary
Tel: 0131 538 6604
Email: company.secretary@capitalgearingtrust.com
