Notice of AGM & Proposed Share Sub-division
27 August 2021
For immediate release
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, Canada, Australia (other than to persons who are both wholesale clients and professional or sophisticated investors in Australia), Japan, the Republic of South Africa or any other jurisdiction where its release, publication or distribution is or may be unlawful.
Pantheon International Plc
NOTICE OF THE ANNUAL GENERAL MEETING & PROPOSED SHARE SUB-DIVISION
The Board of Directors of the Company announces that it has published its Notice of the Annual General Meeting (the "AGM"). In compliance with Listing Rule 9.6.3, the document has today been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Printed copies of this document will be sent to shareholders today and a copy is also available to view on the Company's website at https://www.piplc.com. The AGM will be held at The British Academy, 10-11 Carlton House Terrace, London, SW1Y 5AH on 27 October 2021 at 10.30 a.m. and shareholders wishing to attend in person should register their interest in attending by emailing the Company Secretary at pip_cos[email protected].
Proposed 10 for 1 Sub-division of Existing Ordinary Shares
The Company's Annual Report and Audited Financial Statements (the "Annual Report") for the year ended 31 May 2021 was published on 5 August 2021. The Annual Report set out the Company's intention to undertake a Sub-division (the "Sub-division") of each of the Company's existing Ordinary Shares of 67p each (the "Existing Ordinary Shares") into 10 ordinary shares of 6.7p each (the "New Ordinary Shares") in order to make PIP's shares more accessible to a range of investors with a view to improving the marketability of PIP's shares.
The Notice of the AGM includes full details of the Sub-division and the proposed Ordinary Resolution which will be put to a vote of the shareholders at the AGM in order to effect the Sub-division. Subject to shareholders voting in favour of the Sub-division and the admission of the New Ordinary Shares to the Official List, the proposed timetable for the implementation of the Sub-division is as follows:
Last day for trading in the Existing Ordinary Shares
29 October 2021
5.00pm on 29 October 2021
Admission of the New Ordinary Shares and to trading on the main market of the London Stock Exchange
8.00am on 1 November 2021
CREST accounts credited with the New Ordinary Shares
1 November 2021
Dispatch of new share certificates for the New Ordinary Shares to certified holders
by 12 November 2021
The New Ordinary Shares will have a new ISIN and SEDOL, as follows:
• ISIN: GB00BP37WF17
• SEDOL: BP37WF1
The ticker for the New Ordinary Shares will remain unchanged (PIN).
Following the Sub-division, each shareholder will hold 10 New Ordinary Shares for each Existing Ordinary Share that they held immediately prior to the Sub-division. The Sub-division will increase the number of Ordinary Shares that the Company has in issue and there will be a corresponding reduction in the net asset value and market price of each New Ordinary Share, reflecting the fact that there will be 10 times as many New Ordinary Shares in issue than Existing Ordinary Shares.
The New Ordinary Shares will rank pari passu with each other and will be subject to the same rights and restrictions as the Existing Ordinary Shares. A holding of New Ordinary Shares following the Sub-division will represent the same proportion of the issued ordinary share capital of the Company as the corresponding holding of Existing Ordinary Shares.
Helen Steers / Vicki Bradley
020 3356 1800
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PIP is a listed FTSE 250 private equity investment trust, overseen by an independent Board of Directors and managed by Pantheon, one of the leading private equity investment managers globally. PIP offers investors a liquid, differentiated entry point to the excellent growth potential of global private equity, with access to the primary, secondary and co-investment opportunities of some of the best managers in the world. The Company has a track record of outperformance and manages risk through diversification and rigorous selection based on Pantheon's extensive experience and international platform.
PIP is managed and advised by Pantheon, a leading global private equity, infrastructure & real assets and private debt investor with more than 35 years' experience sourcing and executing private market investment opportunities on behalf of clients. Pantheon has $65.9 billion in AUM ^^ (as at 31 December 2020) and employs approximately 380 staff including more than 110 investment professionals across offices in London, San Francisco, New York, Hong Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.
^^ This figure includes assets subject to discretionary or non-discretionary management, advice or those limited to a reporting function.
A copy of this announcement will be available on the Company's website at www.piplc.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.