6th Feb 2015 12:24
LONDON (Alliance News) - Pacific Horizon Investment Trust PLC Friday revealed a tender offer for up to 5% of its shares after the stock traded at an average daily discount of 9.9% to their fair value net asset value including income between the beginning of August last year and the end of January.
The record date for participation in the tender offer is February 10.
The tender price will be at a 2% discount to the fair value cum-income net asset value per share (inclusive of undistributed revenue reserves), less the direct costs and expenses of the tender offer (including stamp duty and portfolio realisation costs).
The tender offer calculation date is expected to be close of business on April 10 and the results of the tender offer and the tender price are expected to be announced on or around April 14.
The trust's shares were flat at 198.00 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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