Finsbury Growth & Income Trust PLC - Publication of Circular and Notice of General Meeting
July 23 2024 - 2:00AM
UK Regulatory
Finsbury Growth & Income Trust PLC -
Publication of Circular and Notice of General Meeting
PR Newswire
LONDON, United Kingdom, July 23
Legal
Entity Identifier: 213800NN4ZKX2LG1GQ40
23 July 2024
Finsbury Growth
& Income Trust PLC
(the
"Company")
Publication of Circular and Notice of General
Meeting
Renewal of
share buy-back authority
The
Board of Directors of the Company (the "Board")
announces that it is today publishing a Circular (the
"Circular"),
which contains a notice of a general meeting (the
"General
Meeting"), at
which the Board is seeking Shareholders' approval to renew
the
Company's
buy-back authority in order to support the continued operation of
the Company's buy-back policy. The General Meeting will be held
at 25 Southampton
Buildings, London WC2A 1AL,
at
9.30 a.m. on Friday, 23 August
2024.
The
Board's policy, within normal market conditions, is to buy-back
Ordinary Shares when the Company's share price discount to the NAV
per Share approaches 5 per cent. (the "Buy-Back
Policy").
Since the 2024 AGM, and as at the Latest Practicable Date, the
Company has bought back 20,633,230 Ordinary Shares for a total
consideration of £175.1 million representing 70.2 per cent. of the
Existing Authority. To avoid a situation arising whereby the
Existing Authority is fully utilised prior to the Company's next
annual general meeting, resulting in the Board being unable to
implement the Buy-Back Policy, the Board believes that it is in the
best interests of the Company and its Shareholders for the buy-back
authority to be renewed prior to the next annual general meeting.
Accordingly, the Board has convened the General Meeting in order to
seek the authority of Shareholders to renew the Company's authority
to make market purchases of Ordinary Shares.
A
copy of the
Circular will be submitted to the National Storage Mechanism and
will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.The
Circular and the Notice of the General Meeting will also be
available on the Company's website at www.finsburygt.com.
Unless
otherwise defined, all definitions used in this announcement will
have the same meaning as described in the Circular.
For Further
Information, please contact
Frostrow
Capital LLP, Company Secretary
Victoria
Hale
|
+44 (0)20
3170 8732
|
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