M&G High Income Investment Trust Package Units – Mandatory Event with Elections
Corporate action reference: 201700089
Please note we must be in receipt of your instruction by 28 February 2017.
If you would like further information about the terminology used in this notification, please visit our Ask a Question site
Record Date: 6 March 2017
The Company has announced reconstruction proposals to coincide with the fixed winding up date of 17 March 2017. The proposal will be effected through a scheme of reconstruction under section 110 of the Insolvency Act 1986. Shareholders are expected to be offered the option to roll over their investment or to receive a cash exit at Net Asset Value less cost.
The rollover options are expected to include the options to receive the applicable shares in:
M&G UK Income Distribution Fund, R Income shares and/ or M&G Strategic Corporate Bond Fund, R Income shares and/ or M&G Dividend Fund, R Income shares and/ or JP Morgan Elect Managed Income shares and/ or JP Morgan Elect Managed Growth shares and/ or JP Morgan Elect Managed Cash shares.
Option 1 – Exchange into M&G UK Distribution Fund R Income shares at a rate to be determined. (DEFAULT)
Option 2 – For each share held client will receive cash at a rate to be determined. Subject to scaleback.
Option 3 - Exchange into M&G Strategic Corporate Bond Fund R Income shares at a rate to be determined.
Option 4 - Exchange into M&G Dividend Fund R Income shares at a rate to be determined.
Option 5 - Exchange into JP Morgan Elect Plc Managed Income shares GBP0.00003 at a rate to be determined.
Option 6 - Exchange into JP Morgan Elect Plc Managed Growth shares GBP0.0001 at a rate to be determined.
Option 7 - Exchange into JP Morgan Elect Plc Managed Cash shares GBP0.00002 at a rate to be determined.
To reply to this event, please use the below link stating which option you would like to take.
Please quote corporate action reference 201700089
IF YOU WISH TO EXCHANGE INTO M&G UK DISTRIBUTION FUND R INCOME SHARES (DEFAULT), OPTION 1, PLEASE DO NOT REPLY.
We will aim to update your account within five business days of receiving the proceeds.
Overseas residents should consult their professional advisers as to whether they require any governmental or other consents or need to observe any other formalities to enable them to participate in the offer.
By accepting the offer, you will be representing to us that local laws and regulatory requirements have been complied with, including the obtaining of any governmental, exchange control and other consents that may be required and the payment of any issue, transfer or other taxes or duties due in that jurisdiction.
Please note that this page does not constitute investment or tax advice. If you are unsure of what option to take, or if you are in any doubt as to your tax position, please contact your financial advisor.
If you are an ISA or SIPP client your options may differ.