Intended placing

RNS Number : 3574T

Athelney Trust PLC

29 March 2016

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

ATHELNEY TRUST plc ("Company" or "Athelney Trust")

ANNOUNCEMENT OF POTENTIAL FUNDRAISING

Athelney Trust, the quoted investment trust which focusses on smaller companies, today (24 March 2016) announces that its directors have resolved to seek to increase the capital base of the Company by issuing up to a maximum of 9.9 per cent of the Company's existing issued share capital for cash, subject to market demand. 

Robin Boyle, Managing Director, said: "We are hoping to raise additional funds to invest in accordance with our stated investment policy. Our primary objectives are  to reduce our total expense ratio by the same percentage as the placing, and to improve liquidity, without incurring significant issue costs".

 Further information is expected to be announced in due course.

Ends

For further information:

Robin Boyle, Managing Director

Athelney Trust plc                                                                                 020 7628 7937

Paul Quade                                                                                           07947 186694

CityRoad Communications                                                                    020 7248 8010

 

END

 

 

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