Chelverton UK Dividend Trust plc: Block Listing Application

LEI: 213800DAF47EJ2HT4P78

Chelverton UK Dividend Trust PLC

(the "Company")

Proposed Share Rating Management Programme

Block Listing Application

At the Company’s 2022 AGM,  the Board’s authority to allot and issue ordinary shares in order to manage the balance between the supply and demand for ordinary shares, provided the ordinary shares trade at a premium to its NAV, was renewed. Since the beginning of the calendar year, the Company has issued shares regularly in order to manage its current premium, and it intends to continue to do so. Such share issuance will also increase the size of the Company which will benefit all shareholders as the ongoing charges ratio is reduced and the liquidity of the Company's shares is likely to increase.

The Company announces that an application has been made to the Financial Conduct Authority for a block listing of 2,750,000 ordinary shares of 25 pence each to be admitted to the Official List and to the London Stock Exchange for the shares to be admitted to trading on its main market. The shares will, when issued, rank pari passu with the existing ordinary shares of the Company.

The shares may be issued under the block listing from time to time to satisfy investor demand provided that such issues are made at prices above the prevailing net asset value per share. The block listing is expected to become effective on 11 April 2023.

 

Maitland Administration Services Limited

Company Secretary

Tel: 01245 398950