REG - Rights and Issues IT - Suspension of Share Repurchase Programme

Rights and Issues Investment TrustAnnouncement

25/03/2025 07:15

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RNS Number : 9624B  Rights and Issues Inv. Trust PLC  25 March 2025

RIGHTS AND ISSUES INVESTMENT TRUST PLC

 

LEI:       2138002AWAM93Z6BP574

Suspension of Share Repurchase Programme

Rights and Issues Investment Trust plc (the "Company") announces that,
following the withdrawal of Resolution 10, the authority to buy back shares,
from the business of the Company's Annual General Meeting held on 24 March
2025 the share repurchase programme announced on 31 July 2024 has been
suspended.

In light of some  opposition to Resolution 10, primarily from a single
material shareholder, the Board decided to withdraw the resolution from the
business of the meeting. The Board continues to believe that the ability of
the Company to repurchase its own shares is fundamental to the Company's
discount management policy and notes that the approval of the resolution was
recommended by shareholder voting guidance agencies. The Board therefore
proposes to consult with shareholders to address any concerns that have
influenced their voting. Following these consultations, a general meeting will
be convened to seek shareholder approval of a new share buyback authority.
Subject to shareholder approval of that resolution the Board will establish a
new share buyback programme.

 

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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