REG - Troy Inc & Gwth Plc - Possible Scheme of Reconstruction and DCM

Troy Income & Growth TrustAnnouncement

02/11/2023 16:30

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RNS Number : 2455S  Troy Income & Growth Trust Plc  02 November 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATON FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

For immediate release

2 November 2023

TROY INCOME & GROWTH TRUST PLC

(the "Company")

Possible Scheme of Reconstruction and Discount Control Mechanism

Recent buyback activity means that the Company is now very close to (i) fully
utilising its existing authority to repurchase Shares; and (ii) depleting its
distributable reserves (which are required to effect buybacks under the
discount control mechanism ("DCM")). In addition, the Board is currently
exploring possible options for a combination with another investment trust
which would be effected by a scheme of reconstruction.

Therefore, in the light of the above matters the Company is suspending the DCM
and the buyback of its shares with effect from close of business today.

Further details of the proposed scheme of reconstruction will be announced by
the end of November.  There is no guarantee that the terms of any scheme will
be agreed or become effective.  In the event that the Board decides not to
proceed with a scheme of reconstruction, it will provide a further update on
when the DCM will recommence.

For further information, please contact:

 Troy Income & Growth Trust plc
 B Guerin (Chair)                              via Juniper Partners Limited

 Juniper Partners Limited (Company Secretary)  +44 (0)131 378 0500

 Notes:

Important Information

This announcement is released by the Company and the information contained
within this announcement is deemed by the Company to constitute inside
information for the purposes of Article 7 of the UK version of the EU Market
Abuse Regulation (Regulation (EU) No. 596/2014) which forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information Service, such
information is now considered to be in the public domain.

Legal Entity Identifier (LEI):  213800HLNMQ1R6VBLU75

 

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