Capital Gearing Tst Discount Control Policy Update
June 08 2021 - 10:08AM
UK Regulatory
TIDMCGT
Capital Gearing Trust P.l.c. (the "Company")
To: PR Newswire
From: Capital Gearing Trust P.l.c.
LEI: 213800T2PJTPVF1UGW53
Date: 8 June 2021
Discount Control Policy Update
Under the Company's discount and premium control policy (the "DCP"), the
Company aims to purchase or issue shares to ensure, in normal market
conditions, that the shares trade consistently close to their underlying net
asset value per share. Due to continuing high demand for the Company's shares,
the relevant prospectus limits and existing issuance authorities required to
operate this policy are close to being exhausted. The Company's ability to
issue new shares under the DCP will therefore be limited and only a restricted
number of shares will be available for issue each day until (i) a prospectus in
relation to the issuance of further shares has been published (and the Company
expects to publish this ahead of the AGM); and (ii) the relevant issuance
authorities have been approved by shareholders at the upcoming AGM on 6 July
2021.
Following the publication of the prospectus and the renewal of the relevant
issuance authorities the Board expects to resume the normal operation of the
DCP. In the meantime, if daily demands for the Company's shares remain high,
these may not be capable of being met in full through the issuance of new
shares by the Company. The Company's ability to buy back shares under the DCP
is unaffected.
Juniper Partners Limited
Company Secretary
Email: company.secretary@capitalgearingtrust.com
This announcement has been determined to contain inside information for the
purposes of the UK version of the market abuse regulation (EU) No.596/2014.
END
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