22nd Oct 2021 20:25
Asia Dragon Trust PLC - invests in Asian equity markets - Intends to introduce five-yearly performance-related conditional tender offers in addition to its regular continuation votes. Says that if net asset value total return continues to outperform its benchmark total return there will be no tender offer. However, should the NAV total return underperform benchmark over a five-year period then shareholders will be offered to realise a proportion of their investment for cash at a level close to NAV. The five-yearly period has been chosen as this best corresponds with the Manager's typical investment time horizon. The size of a conditional tender offer will be set to a maximum of 25% of the then issued share capital.
Current stock price: 492.50 pence
Year-to-date change: down 6.0%
By Arvind Bhunjun; [email protected]
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