REG - Smithson Inv.Trust - Notice of GM

Smithson Investment TrustAnnouncement

Mon 07:00

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RNS Number : 3268G  Smithson Investment Trust PLC  28 April 2025

 

Legal Entity Identifier: 52990070BDK2OKX5TH79

Smithson Investment Trust plc

(the "Company")

Publication of Notice of a General Meeting

The Company announces that it has today posted a circular to Shareholders (the
"Circular").  The Circular contains a notice of a general meeting (the
"General Meeting") of the Company to be held at 4.30 p.m. on 15 May 2025.

Since 29 April 2022, the Company has been making purchases of its Ordinary
Shares on the market. During the period from 29 April 2022 to 25 April 2025,
the Company has purchased in aggregate 55,357,315 Ordinary Shares at a total
price, before costs, of £773,147,627.

As a matter of law, the Company is only permitted to fund purchases of its own
shares out of its distributable reserves or the proceeds of a fresh issue of
shares and while the Ordinary Shares are trading on the London Stock Exchange
at a price less than the latest published Net Asset Value per share, the
Company is not able to issue new shares.

As at 31 December 2024, the Company's distributable reserves available to fund
share buybacks were approximately £408.5 million. The Board believes it is
prudent to create further distributable reserves to ensure that the Board can
continue to undertake share buybacks when they feel they are appropriate. The
share buybacks which the Company has conducted have been accretive to the
Company's Net Asset Value per share and the Board believes it is important
that there is no technical impediment to their continued use.

The Circular may be obtained, free of charge, from the registered office of
the Company or be downloaded from www.smithson.co.uk
(https://www.smithson.co.uk/) .

Capitalised terms used and not otherwise defined herein shall have the same
meaning as in the Circular.

Enquiries

Apex Listed Companies Services (UK) Limited

Company Secretary

t: +44 20 3994 7161

 

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