Capital Gearing Trust Plc - Publication of Circular and General Meeting
15 Novembre 2023 - 4:33PM
PR Newswire (US)
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
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