12th Oct 2026 21:58
Lindsell Train Investment Trust PLC - investment trust created by Michael Lindsell and Nick Train, and managed by Lindsell Train Ltd, that invests for long-term total returns while maintaining real purchasing power of capital in sterling terms - Announces results of the tender offer at 637.29 pence per share, being 95% of its net asset value per share on October 9. 6.5 million shares are validly tendered, representing 32.5% of its issued share capital. The maximum number of shares available to be acquired under the tender offer was 4.0 million. Following a scale-back exercise, shareholders who validly tendered a number of shares greater than their basic entitlement are to have a number of shares equal to their basic entitlement purchased in full plus 20.89% of their excess applications None of the independent directors nor the investment manager founders have participated in the tender offer.
Chair Roger Lambert says: "We are pleased with the outcome of the tender offer, which has delivered on the board's commitment to put choice directly into shareholders' hands. The tender offer has provided those wishing to exit with an opportunity to realise value at a price closely linked to the trust's underlying asset value, while enabling the company to continue pursuing its long-term investment strategy. With more than two-thirds of shareholders choosing not to tender their shares, we believe the outcome demonstrates continued confidence in the company's long-term investment proposition and its potential to deliver value over time. Neither the board nor the Lindsell Train founders participated in the tender offer, reflecting our shared conviction in the company's future. We believe this outcome strikes the right balance between providing liquidity for those seeking an exit and protecting the interests of shareholders who wish to remain invested."
Current share price: 574.00 pence, closed down 1.0% in London on Monday
12-month change: down 22%
By Aidan Lane, Alliance News reporter
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