Brief: Schroder UK Mid Cap fund proposes buybacks and cuts fees
26/03/2025 07:03
March 26 (Reuters) - Schroder UK Mid Cap Fund PLC SCP.L: SCHRODER UK MID - STRATEGIC INITIATIVES MANAGEMENT FEE REDUCTION, CONTINUATION VOTE AND BUYBACK POLICY BOARD IS INTRODUCING A CONTINUATION VOTE TO BE PROPOSED AT AGM TO BE HELD IN 2028 BOARD INTENDS TO USE ITS AUTHORITY TO BUY BACK SHARES MORE ACTIVELY IN ORDER TO INHIBIT A WIDE DISCOUNT TO NAV FROM DEVELOPING IN COMPANY'S SHARES IN FUTURE WITH EFFECT FROM 1 APRIL 2025, REDUCED MANAGEMENT FEE WILL BE CALCULATED BASED ON LOWER OF (1) 0.60% PER ANNUM OF MARKET CAPITALISATION; AND (2) CURRENT NET ASSET VALUE-BASED FEE ARRANGEMENT. Source text: ID:nRSZ1075Ca Further company coverage: SCP.L (Reporting By Sinead Cruise) ((sinead.cruise@thomsonreuters.com;))