Schroder Asian Total Return Investment Company plc has completed the acquisition of substantially all net assets from Pacific Assets Trust through a scheme of reconstruction under Section 110 of the Insolvency Act 1986. The transaction involved the issuance of 52,124,870 new ordinary shares at a conversion ratio of 0.608247 new shares for each Pacific Assets Trust share. A shareholder circular outlining the deal was published on August 11, 2026, and the voluntary winding up of Pacific Assets Trust followed the approval at the second PAC general meeting.
Following the merger, the combined entity’s share capital comprises 161,239,521 ordinary shares, of which 16,902,940 are held in treasury, leaving 144,336,581 voting rights. Net assets have risen to approximately £1 billion. The formula asset value per share for Schroder Asian Total Return is 732.219527 pence, while the rollover value for Pacific Assets Trust stands at 445.370762 pence.
Admission of the new shares to the Main Market of the London Stock Exchange is scheduled for Thursday at 8:00 a.m. The combination is expected to lower the ongoing management fee and brings two new directors to the board. Chair Sarah MacAulay said the company welcomed the new shareholders and the two new directors resulting from the combination.
