Share Buybacks

RNS Number : 3698M

Mid Wynd Inter Inv Trust PLC

21 May 2010

 



Mid Wynd International Investment Trust PLC

Share Buybacks

Following the appointment of JP Morgan Cazenove as broker to the Company, the Board announces its intention to address the persistently wide discount to net asset value at which the shares trade and also associated issues concerning the market liquidity of the Company's shares.  The Board will consider buybacks in light of market conditions and the volatility and size of the discount at which the Company's shares trade and will only make purchases when accretive to NAV for remaining shareholders.  No hard discount target has been set but it is considered that these actions will contribute to improving liquidity in the shares over time, reducing the bid offer spread and narrowing the ratings at which the Company's shares trade.

Contacts for enquiries:

J.P. Morgan Cazenove

William Simmonds

020 7588 2828

Robert O'Riordan

Baillie Gifford & Co

0131 275 3181

Baillie Gifford & Co

Company Secretaries

21 May 2010

 

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