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29 July 2019
Woodford Patient Capital Trust plc
Manager Share Dealings
The Board of Woodford Patient Capital Trust plc ("WPCT" or the "Company") announces that it was notified on 27 July 2019 that, Neil Woodford, Head of Investment at Woodford Investment Management Limited, the Company's Portfolio Manager, sold 1,750,000 ordinary shares of one penny each in the share capital of WPCT ("Ordinary Shares").
The notification from the Portfolio Manager to the Company on 27 July 2019 stated:
"Following the suspension of the Woodford Equity Income Fund, Mr Woodford elected not to take any income or dividends from Woodford Investment Management Limited whilst the Woodford Equity Income Fund remained suspended. In the circumstances, whilst a reluctant seller, between 3 and 8 July Mr Woodford sold 1.75million of his WPCT shares (around 60% of his holding). The sole reason that he did so was in order to meet personal financial obligations, including a tax liability."
Whilst Mr Woodford is not considered a 'person discharging managerial responsibilities' within the meaning of MAR (as defined below), in consultation with its advisers, the Board has determined that this information should be made available to the public at the soonest opportunity.
Following the sale, the Board is advised by the Portfolio Manager that Mr Woodford holds 1,251,532 Ordinary Shares, representing 0.14 per cent. of the issued share capital.
This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
Ed Berry / Tom Blackwell 0203 727 1046 / 1051
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