Changes to Unit Holdings in CT UK High Income Trust PLC

For every Unit you hold at the Cancellation Date, you will hold three Ordinary Shares and one B Share instead. You’ll see this change in your Savings Plan online the following day and in future valuation statements.

This will not cause a change to the dividends (in respect of your underlying Ordinary Shares) and capital repayments (in respect of your underlying B Shares) that you receive.

You will be able to buy or sell your Ordinary shares and B shares from the Cancellation Date. The last date we can receive your instruction to buy or sell Units is 19 March 2024, or 18 March 2024 if you are switching into Units from another investment. We will contact you if we receive instructions after this date to confirm we are buying/selling the equivalent Ordinary shares and B shares. Please note this transaction will only happen after the Cancellation Date. If you have already instructed us to transfer Units to another person or another provider, and this has not been completed by the Cancellation Date, we will transfer the underlying Ordinary shares and B shares instead.

For the purposes of UK taxation, as the underlying Ordinary shares and B shares were already separately identifiable assets, and there is no change to the beneficial owner, the cancellation of the Units is not a taxable event. You will continue to be taxed in terms of the separate underlying Ordinary shares and B shares. The dividends from the Ordinary Shares and capital repayments from the B shares will continue to show on your annual Consolidated Tax Certificate in the same way.