10 January
2020
THE BIOTECH GROWTH TRUST
PLC
(the "Company")
Notice of General
Meeting – Renewal of buy back authority
The Board announces that a circular proposing the renewal of the
authority of the Company to make market purchases of its ordinary
shares (the “Shares”) and Notice of General Meeting (the
“Proposal”) has today been posted to shareholders.
At the Company’s Annual General Meeting on 11 July 2019, shareholders approved the renewal
of the authority to buy back up to 14.99 per cent. of the then
issued Share capital (the “Buy Back Authority”). As at
9 January 2020, 5,718,577 Shares have
been repurchased, representing 12.0 per cent. of the issued share
capital of the Company as at the date of the passing of the Buy
Back Authority, and the Board believes that were the current rate
of Share buybacks to continue, the remaining Buy Back Authority
will be exhausted in the coming weeks or months. Therefore, the
renewal of the authority is likely to be required in order for the
Company to maintain its active discount management policy. The
Board is therefore seeking to renew the Buy Back Authority to
enable the Company to buy back up to 14.99 per cent. of the Shares
in issue as at the date of the passing of the resolution to renew
the Buy Back Authority.
The General Meeting to renew the Buy Back Authority will be held
at 25 Southampton Buildings, London WC2A 1AL at 9.00
a.m. on Monday, 27 January
2020. Any authority granted to the Company will lapse at the
conclusion of the 2020 Annual General Meeting of the Company.
Expected Timetable
|
2020 |
| Latest time and date for receipt of
forms of proxy |
9.00 a.m. on 23
January |
| General Meeting to approve the
Proposal |
9.00 a.m. on 27
January |
A copy of the Circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
http://www.morningstar.co.uk/uk/NSM. The Circular will also shortly
be available on the Company's website at
https://www.biotechgt.com.
Terms used and not defined in this announcement shall have the
meanings given in the circular published by the Company on
10 January 2020.
Legal Entity Identifier: 549300Z41EP32MI2DN29
For and on behalf of
Frostrow Capital LLP
Company Secretary
For further information, please contact:
Mark Pope
Frostrow Capital LLP
Tel: 0203 008 4913