The Board of New Star Investment Trust PLC has announced a proposed return of capital to its shareholders. The company plans to return £17,045,687 to shareholders through a B share scheme. This return of capital is subject to shareholder approval at a general meeting scheduled for 24 July 2024.

Under the proposed B Share Scheme, shareholders will receive one new B share for each ordinary share held at the Record Time, which is 6 p.m. (London time) on 24 July 2024. These B shares will be subsequently redeemed for cash. If approved, shareholders can expect to receive approximately 24 pence (£0.24) per existing ordinary share in the company.

The Circular detailing the background of the proposal, the mechanics of the B Share Scheme, and the reasons for the Board’s recommendation will be published on or around 28 June 2024. Shareholders are encouraged to vote in favor of the resolutions to approve the Return of Capital.

The timetable for the Return of Capital is as follows:
– Publication of the Circular: 28 June 2024
– General Meeting: 24 July 2024
– Expected redemption and cancellation of B Shares: 8 a.m. on 25 July 2024
– Ordinary Shares start trading ex-B Share entitlement: 25 July 2024
– Despatch of payments to mandated accounts or cheques: By 8 August 2024

Shareholders are advised that the times and dates in the timetable may be subject to change. Any revisions will be communicated through a Regulatory Information Service.

Overseas shareholders should be aware of restrictions on the distribution of this announcement in certain jurisdictions, including the United States, Australia, Canada, Japan, New Zealand, and the Republic of South Africa. This announcement is not an offer to participate in the transactions described and may not be forwarded into or from any Restricted Jurisdiction.

If shareholders have any doubts or need advice, it is recommended to seek financial guidance from authorized financial advisors. The Company’s website and any hyperlinked websites are not part of this announcement.

Overall, the proposed return of capital to shareholders by New Star Investment Trust PLC through the B Share Scheme is a significant development that aims to benefit the company’s shareholders. Shareholders are encouraged to stay informed about the process and participate in the General Meeting to approve the Return of Capital.