31st Jan 2024 09:48
European Opportunities Trust PLC - managed by Devon Equity Management Ltd and investing in European companies offering capital growth - Says tender offer for its share buyback has been "taken up in full". In line with the original November announcement, European Opportunities will purchase back 25%, or 24.1 million of its shares in issue at a price of 918.0734 pence each. Once the remaining conditions of the repurchase agreement have been met, Singer Capital Markets Securities Ltd, a UK-focused investment bank, will purchase the 24.1 million shares, and will then sell the purchased shares to the company at the tender price. The tender price represents 98% of the net asset value per share at close of the calculation date, and the company says that the 2% discount will result in a NAV uplift of around 0.7% per share. 38% of the company's registered shareholders participated in the offer. European Opportunities expects proceeds to be paid on February 5 to shareholders. Read More
