9th May 2019 14:12
LONDON (Alliance News) - Baker Steel Resources Trust Ltd on Thursday launched a tender offer to repurchase up to 9.7 million shares.
The fund manager will buy back the shares at 51 pence each, a 10.9% premium to the closing price on Tuesday.
Baker Steel is carrying out the buyback in order to comply with its capital return policy to shareholders, as set out in 2015. The tendered shares will be cancelled from trading.
Baker Steel Resources shares were trading 2.0% lower at 47.04p on Thursday afternoon.
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