Honeycomb Investment Trust PLC Transaction in Own Shares (3487F)
March 21 2022 - 3:01AM
UK Regulatory
TIDMHONY
RNS Number : 3487F
Honeycomb Investment Trust PLC
21 March 2022
21 March 2022
Honeycomb Investment Trust plc
(the "Company")
Share Buyback Programme
Further to the Company's announcement on 2 March 2022, the
Company announces that it now intends to commence a share buyback
programme, pursuant to the authority granted at the Company's
Annual General Meeting held on 8 June 2021, to purchase the
Company's ordinary shares of GBP0.01 each (the "Ordinary Shares").
The programme will commence immediately and is expected to end no
later than 29 April 2022 (the "Buyback Programme").
The Board believes that at the current price the Company's
Ordinary Shares offer significant value and the Buyback Programme
will be value accretive to the Company's shareholders. The Board's
policy is to consider conducting share buybacks when the Ordinary
Shares trade at a discount of more than 5 per cent. to net asset
value, subject to maintaining the Company's target gearing
limit.
The Company has 39,449,919 Ordinary Shares in issue, of which
4,190,178 Ordinary Shares are held in treasury. Ordinary Shares
purchased by the Company pursuant to the Buyback Programme will be
held in treasury.
Shareholders should be aware that a purchase of Ordinary Shares
by the Company on any trading day may represent a significant
proportion of the daily trading volume in the Ordinary Shares and
could exceed 25 per cent of the average daily trading volume of the
preceding 20 business days.
For further information about this announcement please
contact:
Pollen Street Capital - Investment Manager
Matthew Potter / Julian Dale: +44 (0)20 3728 6750
Liberum Capital Limited - Joint Broker
Chris Clarke: +44 (0)20 3100 2000
Cenkos Securities plc - Joint Broker
Justin Zawoda-Martin: +44 (0)20 7397 8900
Link Company Matters Limited - Corporate Secretary
hitcosec@linkgroup.co.uk
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END
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