25th Mar 2025 07:01
RIGHTS AND ISSUES INVESTMENT TRUST PLC
LEI: 2138002AWAM93Z6BP574
Suspension of Share Repurchase Programme
Rights and Issues Investment Trust plc (the "Company") announces that, following the withdrawal of Resolution 10, the authority to buy back shares, from the business of the Company's Annual General Meeting held on 24 March 2025 the share repurchase programme announced on 31 July 2024 has been suspended.
In light of some opposition to Resolution 10, primarily from a single material shareholder, the Board decided to withdraw the resolution from the business of the meeting. The Board continues to believe that the ability of the Company to repurchase its own shares is fundamental to the Company's discount management policy and notes that the approval of the resolution was recommended by shareholder voting guidance agencies. The Board therefore proposes to consult with shareholders to address any concerns that have influenced their voting. Following these consultations, a general meeting will be convened to seek shareholder approval of a new share buyback authority. Subject to shareholder approval of that resolution the Board will establish a new share buyback programme.
Enquiries:
Cavendish Capital Markets Limited | |
Andrew Worne / Tunga Chigovanyika - Corporate Finance | +44 (0) 207 908 6000 |
Pauline Tribe - Sales | +44 (0) 207 908 6000 |
Apex Fund Administration Services (UK) Limited | |
+44 (0) 1245 398950 |
Related Shares:
Rights &iss.