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IN BRIEF: North American Income announces conditional tender offer

14th Jun 2024 20:27

The North American Income Trust PLC - Edinburgh, Scotland-based investment company - Announces a conditional tender offer of up to 15% of shares outstanding to prevent trading at a price discount to net asset value. Sets calculation date of September 30 2027. Will issue offer if either the NAV total return has not exceeded the total return of the S&P High Yield Dividend Aristocrats Index by the calculation date, or if the average stock price cum-income NAV discount in six months prior to calculation date is greater than 7%. Any potential tender offer to reflect 2% discount to cum-income NAV, minus costs.

Current share price: 294.00 pence

12-month change : up 6.1%

By Aidan Lane, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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