FREQUENTLY ASKED QUESTIONS Look to the left of this page for the most commonly accessed information you may need. Otherwise, the following Frequently Asked Question (FAQ) section has ben put together to answer a whole range of commonly asked questions. Blue Planet Financials Growth & Income Trusts: Stock Split 2. What is the purpose of doing this? 3. What has been done? When will the change take effect? 4. What does the Share Split mean to me? 5. What happens to my current share certificate? Will I get a new certificate? 6. I don’t understand the Blue Planet Financials Growth & Income Trust No.1-10 Plc structure 7. What happens to my warrants? Will I get a new certificate? 8. A worked example: I invested £2,000 at the Trust's inception 9. What if I hold my existing ordinary shares in a PEP or ISA? 10. What is the tax effect of the Share Split? 11. Further information 1. What has happened?At the Annual General Meeting of Blue Planet Financials Growth & Income Trust No.1-10 Plc held on 2 August 2006 shareholders approved the subdivision of the Company's ordinary shares by way of a ten for one share split such that each existing ordinary share of 10p will be divided into ten new ordinary shares of 1p each. 2. What is the purpose of doing this?Over the last few years the Company’s equity UNIT (BPFU) has risen significantly to the point that it is one of the most highly priced instruments on the London Stock Exchange. It is hoped that the Share Split will lead to increased market liquidity of the Company’s equity UNIT.
3. What has been done? When will the change take effect?The 1,362,260 existing issued ordinary shares of 10p each held at the close of business on 2 August 2006 will be divided into 13,622,600 new ordinary shares of 1p each. The record date and last day for transfers with the Registrars using existing share certificates is expected to be 14 August 2006. It is expected that the new ordinary shares will be admitted to the Official List of the UK Financial Services Authority and will commence trading on the London Stock Exchange at 8.00 a.m. on 15 August 2006. It is also expected that CREST accounts will be credited on 15 August 2006. 4. What does the Share Split mean to me?You will continue to hold the same proportion of Blue Planet Financials Growth & Income Trust No.1-10 Plc immediately after the Share Split as you did before. It is expected that the market price of each new ordinary share will be approximately one tenth of the market price of an existing ordinary share which will reflect the fact that you will own ten times as many ordinary shares in the Company. The total value of your shareholding at the date of the Share Split should remain the same. 5. What happens to my current share certificate? Will I get a new certificate?Your existing ordinary share certificate will no longer be valid once the new ordinary shares have been listed. Therefore, you should mark it as invalid upon receipt of your new ordinary share certificate. New certificates showing ordinary shares of 1p each are expected to be issued to shareholders on 29 August 2006 and they will replace the old certificates showing ordinary shares of 10p each. 6. I don’t understand the Blue Planet Financials Growth & Income Trust No.1-10 Plc structureThe Blue Planet Financials Growth & Income Investment Trusts (No. 1 to 10) Plc were formally known as the Cairngorm Building Societies Investment Trusts (No. 1 to 10). At the time of the Investment Trust’s launch Blue Planet Investment Management Ltd forecast the further rationalisation of the Building Societies sector. For this reason, so as to maximise the potential returns anticipated to accrue from building society conversions, 10 trusts were launched creating 10 eligible members. Although each trust is a separate legal entity, to all intents and purposes each is identical and treated as a 1/10th part of a single entity / trust. 7. What happens to my warrants? Will I get a new certificate?No new warrant certificates will be issued; however please note that the warrant terms have been changed.
* Were a UNIT represents 1 share of No.1, No.2, No.3 to No.10
8. A worked example: I invested £2,000 at the Trust's inceptionAn investor bought £2,000 worth of Blue Planet Financials Growth & Income Trust No.1-10 Plc at launch (April 1996).
9. What if I hold my existing ordinary shares in a PEP or ISA?If you hold your existing ordinary shares in a PEP or an ISA, you should be able to hold the new ordinary shares you receive in place of your existing ordinary shares in a PEP or an ISA (subject to the terms and conditions of your PEP or ISA). 10. What is the tax effect of the Share Split?Based on current UK legislation, the Share Split should not give rise to a UK capital gains tax charge. After the sub-division of the existing ordinary shares, the base cost of those existing ordinary shares for the purposes of UK capital gains tax should be apportioned between the corresponding new ordinary shares. If you are in any doubt as to your personal tax situation, you should consult your own professional adviser. 11. Further informationFurther details of the share split are contained in the section headed Notice of Annual General Meeting dated 30 May 2006 of the Annual Report and Accounts for the year ended 31 March 2006. You can also contact the Manager on (+44)(0)131 466 6666 or by emailing info@blueplanet.eu |
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