UK Investment Trusts

FAQs

• 1. What happened?

  On 19 June 2025, the Board announced the proposed combination with Fidelity European Trust PLC (‘FEV’). At general meetings held on 9 September 2025 and 26 September 2025, the Company’s shareholders voted to support the combination and subsequently, to put the Company into member’s voluntary liquidation.

  The combination with FEV completed on 26 September 2025 and those shareholders not electing for the cash exit, received new FEV shares for their existing HET shares.

  More information on FEV can be found at:  Fidelity European Trust PLC | Investment Trust

• 2. Was a dividend paid before the liquidation?

  A pre-liquidation interim dividend of 3.4 pence per ordinary share was paid to HET shareholders on 19 September 2025. The record date for the interim dividend was 5 September 2025 and the shares traded ex-dividend on 4 September 2025.

• 3. I did nothing, what happened to my HET shares?

  UK shareholders automatically received new FEV shares based on the calculation set out in the HET circular. The calculation for how many new FEV shares a shareholder received was as follows:

  Number of new FEV shares =	HET Rollover Pool Formula Asset Value (‘FAV’) per share	× Aggregate number of HET shares held by the relevant shareholder
  	FEV Formula Asset Value (‘FAV’) per share

  Shareholders with a registered address outside of, or who are resident in, or a citizen, resident or national of, jurisdictions outside of the UK will not have automatically received new FEV shares unless they demonstrated to FEV that receiving these shares did not breach any relevant securities laws.

  Shareholders NOT resident in the UK and who did not demonstrate that they were able to receive the new FEV shares had their shares issued to the liquidators. The liquidators will arrange for these shares to be sold promptly and return the cash to the overseas shareholder, after deducting the cost incurred in selling the shares, in due course.

• 4. Who should I contact if I have queries?

  If you elected for the cash exit and have not received your cash, contact the liquidator at the contact details listed at the top of this page. Have details of your HET shareholding to hand.

  If you did nothing, your HET shares will automatically have been rolled-over to FEV and you will have been issued new FEV shares. Contact the FEV registrars at:

  MUFG Corporate Markets
  Central Square, 29 Wellington Street, Leeds LS1 4DL
  Email: shareholderenquiries@cm.mpms.mufg.com
  Telephone 0371 664 0300