REG-The Biotech Growth Trust PLC: Publication of a circular and notice of general meeting

Biotech Growth TrustAnnouncement

03/02/2025 10:15

3 February 2025

THE BIOTECH GROWTH TRUST PLC

(the "Company")

 

Notice of General Meeting - Renewal of buy back authority

 

The board of directors of the Company (the "Board") announces that it is today
publishing a circular (the "Circular") which contains the notice of a general
meeting (the "General Meeting"), at which the Board is seeking Shareholders'
approval to renew the authority of the Company to make market purchases of its
ordinary shares (the "Shares").

 

At the Company's Annual General Meeting on 18 July 2024, Shareholders approved
the renewal of the authority to buy back up to 14.99 per cent. of the then
issued Share capital (the "Buy Back Authority"). As at the Latest Practicable
Date, 3,587,728 Shares have been repurchased, representing 10.9 per cent. of
the issued share capital of the Company as at the date of the passing of the
Buy Back Authority, and the Board believes that were the current rate of Share
buybacks to continue, the remaining Buy Back Authority will be exhausted in
the coming weeks or months. Therefore, renewal of the authority is likely to
be required in order for the Company to maintain its active discount
management policy. The Board is therefore seeking to renew the Buy Back
Authority to enable the Company to buy back up to 14.99 per cent. of the
Shares in issue as at the date of the passing of the resolution to renew the
Buy Back Authority.

 

The General Meeting to renew the Buy Back Authority will be held at 25
Southampton Buildings, London WC2A 1AL at 9.00 a.m. on Thursday, 27 February
2025. Any authority granted to the Company will lapse at the conclusion of the
2025 Annual General Meeting of the Company.

 

Expected Timetable

                                                                                    
 Latest time and date for receipt of forms of proxy  9.00 a.m. on 25 February 2025  
 General Meeting                                     9.00 a.m. on 27 February 2025  

 

A copy of the Circular has been submitted to the National Storage Mechanism
and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Circular will also
shortly be available on the Company's website at https://www.biotechgt.com.

 

Terms used and not defined in this announcement shall have the meanings given
in the Circular.

 

Legal Entity Identifier: 549300Z41EP32MI2DN29

 

For and on behalf of

Frostrow Capital LLP

Company Secretary

 

For further information, please contact:

Katherine Manson

Frostrow Capital LLP           

Tel: 0203 709 8734



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