27th Oct 2010 07:00
Juridica Investments Limited
("JIL" or the "Company")
Share Buyback Programme
At the annual general meeting of the Company held on 28 May 2010, Shareholders authorised the Company to make market purchases of up to 14.99 per cent. of the issued share capital of the Company.
Given the current share price of the Company's shares compared to its published net asset value, the Company announces that it intends to commence a share buyback programme over the next few days of up to US $10 million (the "Buyback") pursuant to this authority. No purchases will be made by the Company under the Buyback unless they are earnings accretive.
Assuming no sales are made by Invesco Asset Management Limited ("Invesco"), Invesco may hold shares carrying more 30 per cent. of the voting rights of the Company as a result of a Buyback.
Following discussions between the Company and the Takeover Panel, the Takeover Panel has agreed that, under Rule 37.1 of the Takeover Code and the notes to that Rule, Invesco should be treated as an "innocent bystander" in relation to any increase in its holdings of Shares as a result of the Buyback and will not therefore be required to make an offer under Rule 9 as a result of any increase in its holding caused by such a Buyback.
For further information, please contact
Juridica Capital Management Limited Richard W. Fields
| +1 (866) 443 1080
|
Cenkos Securities (NOMAD) Nicolas Wells Camilla Hume
| +44 (0) 20 7397 8900 |
Pelham Bell Pottinger David Rydell Olly Scott | +44 (0) 20 7861 3232 |
Related Shares:
Juridica Investments