REG - HgCapital Trust PLC - Transaction in Own Shares

HgCapital TrustAnnouncement

14/10/2022 07:00

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RNS Number : 8643C  HgCapital Trust PLC  14 October 2022

HgCapital Trust plc

Legal Entity Identifier: 213800J7QUJJBEFSIN38

 

Transaction in Own Shares

14 October 2022

 

HgCapital Trust plc ("HGT" or the "Company") announces that on 13 October 2022
the Company purchased for cancellation 401,308 Ordinary Shares of 2.5p each at
an average price of 336.30p per share in accordance with the authority granted
by shareholders at the Company's Annual General Meeting on 10 May 2022.

 

 Date of purchase  Volume weighted average price paid per share (GBp)  Number of shares purchased  Lowest price paid per share: (GBp)  Highest price paid per share: (GBp)  Venue
 13 October 2022   336.30                                              401,308                     334.00                              340.00                               XLON

 

Following the settlement of this purchase, the issued share capital of the
Company will be 457,728,500 Ordinary Shares.

 

The above figure (457,728,500) may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the Company under
the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Rationale for repurchasing Shares

 

As stated in the 2022 interim report published in September, the Board of HGT
regularly reviews and updates HGT's share buyback policy to support its
ability to manage the Company's share price and discount to NAV per share.

 

The current macro-economic and geo-political environment has resulted in
heightened volatility in financial markets. Whilst HGT navigates these, the
Board is keen to emphasise its confidence in the robustness of the net asset
value figures that are released to the market on a quarterly basis, and the
strong earnings growth from the underlying portfolio companies that accompany
these.

 

The Board made new commitments to Hg funds during 2022 which are expected to
drive new investment activity, and also expects to see further liquidity
events from the portfolio over the next 6 to 12 months. The Board will
continue to assess the potential for buybacks in line with the Company's
policy, while having regard for the ongoing liquidity profile of the Company.

 

For further details:

Hg

Laura Dixon

+44 (0)78 2459 2894

 

Numis

David Benda (corporate)

 +44 (0)20 7260 1275

 

Link Company Matters Limited, Company Secretary

Alex Saldarini

+44 (0) 7540 297 938

 

 

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