CGT Capital Gearing Trust Plc

 
TIDMCGT 
 
LEI:213800T2PJTPVF1UGW53 
 
From:Capital Gearing Trust P.l.c. 
 
Date:15 November 2023 
 
Capital Gearing Trust P.l.c. 
 
Publication of Circular and General Meeting 
 
The Company has successfully operated a discount control policy (the "DCP") for 
a number of years, with the aim of ensuring that, in normal market conditions, 
the Company's ordinary shares trade consistently close to their underlying net 
asset value per share. The DCP encompasses both share issuances and most 
recently, share buybacks.  As announced on 31 October 2023, share buybacks have 
recently been constrained because of the Company's limited distributable 
reserves. 
 
Accordingly, the Company has today published a circular convening a general 
meeting to be held at 10.30 a.m. on 5 December 2023 at the offices of Juniper 
Partners Limited, 28 Walker Street, Edinburgh EH3 7HR (the "General Meeting"). 
At the General Meeting, resolutions will be proposed to (i) cancel the amount 
standing to the credit of the Company's share premium account in order to create 
distributable reserves; and (ii) renew the Company's shareholder authority to 
buy back ordinary shares (the "Proposals"). 
 
The Proposals seek to ensure that, once the Company's share premium account is 
cancelled, with the resulting sum credited to the Company's distributable 
reserves, the Company will be able to recommence the normal operation of the DCP 
with the maximum permitted authority to buy back ordinary shares. 
 
A copy of the circular will shortly be available for inspection on the Company's 
website at www.capitalgearingtrust.co.uk and on the National Storage Mechanism 
which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 
 
All enquiries: 
 
Juniper Partners Limited 
 
Company Secretary 
 
Tel: 0131 378 0500 
 
Email: company.secretary@capitalgearingtrust.com 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

November 15, 2023 10:33 ET (15:33 GMT)

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