Standard Life Warrants

mvteng

I have inhereted 200 warrants (1994-2008) in Standard Life UK Smaller Companies Trust.

If I understand correctly these allow me to buy shares at 100p each. As the Shares are currently priced at £1.23. This would seem like a good idea.

3 questions please :

1/ Have i understood correctly & are there any downsides.

2/ "The warrants are issued......in accordance with the Deed Poll executed by the company on 13 July 1993" . Do I have to act before 13 July 2008, or by end of 2008. If I don't act, what happens?

3/ How do I convert the warrants into shares.

Thanks in advance

mvteng

barak

(1) I think you have understood - no downsides except the normal risks attaching to equity investment.

(2) According to my quick research on Trustnet the last date for exercising those Warrants is 30th September 2008, which in practice probably means during the month of September 2008 - not before then, but check with the Registrars -
Computershare
PO Box 82, The Pavilions,
Bristol BS99 7NH
Telephone: 0870 889 4076
Fax: 0870 703 6101

If that date is correct, and the Warrants are registered in your name at your address, you will receive a reminder explaining the process in plenty of time, probably in July or August. .

(3) The conversion process normally entails completing some details on the reverse of the Warrant certificate and sending it to the Registrar with your cheque for £200.00

You can't convert the Warrants into shares until the specified time. (You could in theory sell the Warrants before then but at, say, 200 x 23p it wouldn't be worth it!)

If you do nothing, you will lose the opportunity to buy the shares at a discount.

Hope that's some help!

mvteng

Barak,

Thanks very much. Your help is greatly appreciated.