SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
RULE 23C-2 NOTICE OF INTENTION TO REDEEM SECURITIES
of
Invesco Value Municipal Trust
1555 Peachtree Street, N.E.
Suite 1800
Atlanta, GA 30309
under the
Investment Company Act of 1940
Investment Company Act File No. 811-06434
Invesco Value Municipal Trust (the “Fund”) hereby notifies the Securities and Exchange
Commission that it intends to redeem securities of which it is the issuer, as set forth below in
accordance with the requirements of Rule 23c-2 under the Investment Company Act of 1940.
(1) Title of the class of Securities to be redeemed:
Auction Rate Preferred Shares, par value of $0.01 per share, liquidation preference of
$50,000 per share (“ARPS”), Series TH and Series TU.
(2) Date on which the securities may be called or redeemed:
The ARPS will be redeemed for each series on the following dates:
Series TH on June 15, 2012
Series TU on June 13, 2012
(3) Applicable provisions of the governing instrument pursuant to which the securities are to
be redeemed:
ARPS are to be redeemed in accordance with Section 4 of the Certificate of Designation,
Establishing Powers, Qualifications, Rights and Preferences of the Preferred Shares.
(4) The principal amount or number of shares and the basis upon which the securities to be
redeemed are to be selected:
774 outstanding shares of Series TH ARPS
345 outstanding shares of Series TU ARPS
All of the shares of outstanding ARPS of each series are being redeemed.
Please note that this notice serves only to disclose a proposed redemption of each of the ARPS
series.