chelvertonam

1. CHELVERTON GROWTH TRUST PLC Trust facts November 2013 • www.chelvertonam.com

2. CHELVERTON GROWTH TRUST PLC Trust facts November 2013 • Proposed Tender Offer and Notice of AGM • The Company is pleased to announce a tender offer by Sanlam Securities UK Limited (“Sanlam Securities”) to purchase up to 10 per cent. of the Company’s issued share capital (the “Tender Offer”). The Tender Offer is subject to shareholders’ approval at the Company’s annual general meeting to be held at 11.00 a.m. on 19 December 2013. The tender price per ordinary share will be 92.5 per cent. of the net asset value per ordinary share at the close of business on 20 December 2013.   • The Company’s report and accounts for the year ended 31 August 2013 and a notice of annual general meeting and a circular containing details of the Tender Offer will be posted to shareholders later today.   • Pursuant to an agreement between the Company and Sanlam Securities, details of which are set out in the circular, the Company will purchase from Sanlam Securities all those ordinary shares purchased by it under the Tender Offer at the tender price. • The Tender Offer is for up to 10 per cent. of the Company’s issued share capital and shareholders will be able to decide whether to tender some or all of their ordinary shares within the overall limits of the Tender Offer (but tenders in excess of a shareholder’s basic entitlement (being 10 per cent. of his or her shareholding) will only be accepted to the extent that other shareholders tender less than their basic entitlement).  • The tender price will be the price per ordinary share which represents 92.5 per cent. of the net asset value per ordinary share on the Calculation Date. Assuming a Calculation Date as at the close of business on 31 October 2013 (being the latest practicable date prior to this announcement) the net asset value per ordinary share was 46.47p and the tender price would have been 42.98p compared to the mid-market ordinary share price at the close of business on that day of 41.50p. • The information contained in this document has been obtained from sources that Chelverton Asset Management Limited (“CAM”) considers to be reliable. However, CAM cannot guarantee the accuracy or completeness of the information provided, and therefore no investment decision should be based solely on this data. • This document is issued by CAM, authorised and regulated by the Financial Conduct Authority (FCA). This documents does not represent a recommendation by CAM to purchase shares in this Trust. We recommend private investors seek the services of a Financial Adviser. • Risk Factors • The value of investments and the income from them may go down as well as up and you may not get back your original investment. Investment trusts can borrow money to make additional investments on top of shareholders funds (gearing). If the value of these investments fall in value, gearing will magnify the negative impact on performance. Particular share classes may also be structurally geared by other share classes that have earlier entitlement to the Company’s assets up to a predetermined limit. If an investment trust incorporates a large amount of gearing the value of its shares may be subject to sudden and large falls in value and you could get back nothing at all. An investor could lose all of their capital. Smaller companies are riskier and less liquid than larger companies which means their share price may be more volatile. Some of the annual management fee is currently charged to the capital of the Fund. Whilst this increases the yield, it will restrict the potential for capital growth. The level of yield may be subject to fluctuation and is not guaranteed. Net Asset Value (“NAV”) performance is not the same as share price performance and investors may not realise returns the same as NAV performance. • Risk rating of Shares • Ordinary shares High • Chelverton Growth Trust PLC is registered in England. • Company no. 2989519 • Reuters: CGW.L • SEDOL: 02621349 • Market Makers: Winterfloods • Price Information: CGW share price • HOW TO CONTACT US • Telephone : 0207 222 8989 • Email: cam@chelvertonam.com • By Post: Chelverton Asset Management Limited • 20 Ironmonger Lane, London EC2V 8EY • www.chelvertonam.com