REG - F&C Investment Trust - Share Buyback Programme

F&C Investment TrustAnnouncement

27/04/2023 14:45

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RNS Number : 7498X  F&C Investment Trust PLC  27 April 2023

 

 

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

 

 

F&C INVESTMENT TRUST PLC

 

Share Buyback Authority

 

 

LEI: 213800W6B18ZHTNG7371

 

 

 

F&C Investment Trust PLC (the 'Company') is restating the details of its
current share buyback authority.

 

At the Annual General Meeting of the Company held on 27 April 2023
shareholders granted authority to repurchase up to 77,695,006 of its ordinary
shares or, if less, 14.99% of the number of ordinary shares in issue
(excluding treasury shares) as at that date. The Company therefore announces
that, as at 27 April 2023, it has authority to repurchase up to 77,693,507 of
its ordinary shares remaining. Such authority shall expire on 30 June 2024
unless the authority is renewed at the Company's Annual General Meeting to be
held in 2024 or unless expressly varied, revoked or renewed prior to such time
by the Company. The Board expects to renew this authority annually.

 

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 J.P. Morgan Securities plc to act as its broker in
respect of its buy-back transactions. Any buybacks will be undertaken in
accordance with the Company's share buy-back policy. This arrangement is in
accordance with Chapter 12 of the UKLA Listing Rules and the Company's general
authority to repurchase shares.

 

 

27 April 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 3530 6283

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