The European Investment Trust Plc - Share Repurchase Authority
- 12
PR Newswire
London, January 22
The European Investment Trust plc (the “Company”)
Share Repurchase Authority
The Company announces that, as a result of the passing of resolution 11 at the Company's Annual General Meeting held on 22 January 2019, it has authority to repurchase up to a maximum of 6,151,336 of its ordinary shares. Such authority lasts until the Company’s next Annual General Meeting in 2020, unless it has been fully exercised, or renewed or expressly revoked by shareholders before then.
The maximum price (exclusive of expenses) which may be paid by the Company for an ordinary share shall be no more than the higher of (a) 105% of the average of the closing market value of such shares (as derived from the Daily Official List of the London Stock Exchange) for the five business days prior to the date of purchase; and (b) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.
In addition, it is the Company's policy that repurchases of shares will only be made at prices below the prevailing net asset value of the Company's shares and where the Company's Directors consider it to be in the best interests of shareholders and the Company to do so.
It is expected that similar announcements will be made each time the share repurchase authority is renewed.
22 January 2019
LEI: 213800QNN9EHZ4SC1R12
Enquiries:
Kenneth J Greig
Edinburgh Partners AIFM Limited
Tel: 0131 270 3800
The Company’s registered office address is:
Beaufort House
51 New North Road
Exeter
EX4 4EP
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