Global Smaller Cos. Trust PLC (The) Share Buyback Authority (6274H)
28 Luglio 2023 - 6:29PM
UK Regulatory
TIDMGSCT
RNS Number : 6274H
Global Smaller Cos. Trust PLC (The)
28 July 2023
LONDON STOCK EXCHANGE ANNOUNCEMENT
THE GLOBAL SMALLER COMPANIES TRUST PLC
(the 'Company')
Share Buyback Authority
LEI: 2138008RRULYQP8VP386
The Company is restating the details of its current share
buyback authority.
At the Annual General Meeting of the Company held today the
Company was granted authority to repurchase up to 77,946,388 of its
ordinary shares. The Company announces that as at 28 July 2023 it
has authority to repurchase up to 77 ,946,388 of its ordinary
shares remaining. Unless expressly revoked by shareholders, such
authority shall expire at the conclusion of the next annual general
meeting of the Company or on 27 October 2024 (whichever is
earlier). The Board expects to renew this authority annually and it
is expected that similar announcements will be made at the time of
each renewal.
Any buyback may be funded from the Company's own cash resources
or, if appropriate, from short term borrowings. The maximum price
payable per share (exclusive of expenses) must not exceed the
higher of: (i) 105% of the average middle market quotations for the
five business days preceding the date of purchase; and (ii) the
higher of the last independent bid and the highest current
independent bid on the London Stock Exchange. Shares repurchased
will either be held in treasury or cancelled.
The Company instructs Stifel Nicolaus Europe Limited to act as
its broker in respect of its buyback transactions. Any buybacks
will be undertaken in accordance with the Company's discount
control policy. This arrangement is in accordance with Chapter 12
of the UKLA Listing Rules and the Company's general authority to
repurchase shares.
28 July 2023
Name of contact and telephone number for enquiries:
Jonathan Latter
For and on behalf of Columbia Threadneedle Investment Business
Limited,
Company Secretary
Telephone: 020 7628 8000
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END
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July 28, 2023 12:29 ET (16:29 GMT)
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