REG - Rights and Issues IT - Circ re. Notice of General Meeting

Rights and Issues Investment TrustAnnouncement

11/04/2025 07:00

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RNS Number : 5673E  Rights and Issues Inv. Trust PLC  11 April 2025

RIGHTS AND ISSUES INVESTMENT TRUST PLC (the "Company")

Legal Entity Identifier: 2138002AWAM93Z6BP574

 

Issue of Circular and Notice of General Meeting

 

The Company announces that it has today issued a circular (the 'Circular')
convening a general meeting (the 'General Meeting') of shareholders to be held
at 2:00pm on Thursday, 8th May 2025 at the Zig Zag Building, 70 Victoria
Street, London SW1E 6SQ. The General Meeting is being convened to seek
shareholder approval for the Company to buy back up to 14.99% of its Ordinary
Shares, representing 716,600 Ordinary Shares as at the date of the circular.

 

The Company has, for many years, operated a share buyback programme. The
buyback programme was established to seek to manage any discount at which the
Ordinary Shares trade, and also to provide liquidity for Shareholders who may
wish to realise their investment in the Company.

 

At the Company's annual general meeting held on 24th March 2025 (the "2025
AGM"), the proposed special resolution seeking authority to buy back shares
(the "AGM Buyback Resolution"), received some opposition, primarily from a
single material Shareholder. In addition, less than 47% of the Ordinary Shares
eligible to vote on the AGM Buyback Resolution were cast. Consequently, the
Board decided to withdraw the AGM Buyback Resolution from the business of the
2025 AGM to allow time for the Company to consult with the dissenting
Shareholder and to seek feedback from other significant Shareholders. This
consultation having now completed, the Board is convening the General Meeting
to seek the authority of Shareholders to make market purchases of Ordinary
Shares so that the Company may re-commence a share buyback programme.

 

The Board strongly believes that the ongoing ability of the Company to buy
back its own Ordinary Shares is in the interests of all Shareholders and
recommends that shareholders vote in favour of the resolution to be proposed
at the General Meeting.

 

Printed copies of the Circular and Notice of General Meeting will be sent to
those Shareholders electing to receive hard copies.

 

A copy of the Circular and Notice of General Meeting will shortly be available
to view and download from the Company's website
www.jupiteram.com/rights-and-issues-investment-trust-plc.
(http://www.jupiteram.com/rights-and-issues-investment-trust-plc.)

 

 

Enquiries:

 

 Cavendish Capital Markets Limited
 Andrew Worne / Tunga Chigovanyika - Corporate Finance                +44 (0) 207 908 6000
 Pauline Tribe - Sales                                                +44 (0) 207 908 6000
 Apex Fund Administration Services (UK) Limited

 cosec-uk@apexgroup.com                                               +44 (0) 1245 398950

 

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