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Suspension of Share Repurchase Programme

25th Mar 2025 07:01

RNS Number : 9624B
Rights and Issues Inv. Trust PLC
25 March 2025
 

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

[email protected]

+44 (0) 1245 398950

 

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