RECOVERY TRUST PLC

RECOVERY TRUST PLC

Previous company name
PAVILION GEARED RECOVERY TRUST PLC
Name change date
3/4/2003
Company Overview
Recovery Trust PLC is an investment trust which has been structured to provide the holders of its Ordinary Income shares with a high and a geared income return. The gearing is provided by Zero Dividend Preference shares, due to be repaid in August 2007. The company also has additional gearing through the use of a revolving credit facility. The company was formerly known as Pavilion Geared Recovery Trust PLC until March of 2003. It has its registered office located in Exeter, the United Kingdom.
The company is fully eligible for inclusion in ISAs. The company operates as an investment company within the meaning of Section 266 of the Companies Act 1985. The company’s objective are to provide holders of the ordinary shares with a high and growing income and the potential for capital growth and the holders of the Zero Dividend Preference shares with a predetermined capital return over the period to August 2007.
The company’s recovery portfolio comprises undervalued companies, predominately those listed on the London Stock Exchange which are constituents of the FTSE All-Share Index. The high-yielding portfolio comprises investments in other investment trusts, including splits, and other investment companies and high-yielding investments.
The company’s investment management services are provided by Montanaro Investment Managers Limited. The company’s top 10 recovery portfolio holdings include Dignity, Lonmin, Tullow Oil, Delta, Dana Petroleum, IFX Group, Genus, Aviva, GlaxoSmithKline and Rexam. Its top 10 income portfolio holdings consist of Invesctec High Income Trust, Framlington Income & Capital Trust, US Special Opportunities Trust Units, United Utilities, Lloyds TSB Group, National Grid, BT Group, Holidaybreak, Wichford and Rentokil Initial.
Recovery Trust PLC is a member of the Association of Investment Trust Companies (AITC).
Business Summary
The Company is an investment trust which has been structured to provide the holders of its Ordinary Income shares with a high and growing income and a geared capital return. The gearing is currently provided by Zero Dividend Preference shares that are due to be repaid on 15 August 2007. The Company also has additional gearing through the use of a revolving credit facility.
Description and history
The Company is an investment trust which has been structured to provide the holders of its Ordinary Income shares with a high, growing income and a geared capital return. The gearing is currently provided by Zero Dividend Preference shares that are due to be repaid on 15 August 2007. The Company also has additional gearing through the use of a revolving credit facility.
History:
The Company was incorporated on 7 August 2001 and admitted to trading on AIM on 15 August 2001.

In Liquidation
The Board announced that the special and extraordinary resolutions proposed at the Extraordinary General Meeting were passed on a show of hands.

The Company has therefore been put into Members’ Voluntary Liquidation and Nicholas James Dargan and Nicholas Guy Edwards, both of Deloitte & Touche LLP,
have been appointed as Joint Liquidators with effective on 15 August 2007.

Formerly known as Pavilion Geared Recovery Trust PLC

Business Line
Investment trust
Subsidiary
FRAMLINGTON INCOME & CAPITAL TRUST PLC
Advisor
PRICEWATERHOUSECOOPERS LLP
IPO date
8/15/2001
US SIC Code
6726
Company Address
Beaufort House
51, New North Road
City province or state postal code
EX4 4EP, EXETER
Phone: 20 7282 5555
Fax: 20 7282 5556
Country address: UNITED KINGDOM
Website url: www.theaic.co.uk