Buyback into Treasury

RNS Number : 5997H

Monks Investment Trust PLC

02 December 2015

 

THE MONKS INVESTMENT TRUST PLC

 ("The Company")

Buybacks into Treasury

Following a review, the Board and Managers are of the opinion that the Company would benefit from the flexibility of being able to hold repurchased shares in Treasury rather than automatically cancelling them.

At present the Company does not have the power to sell shares out of Treasury but will be seeking shareholder authority to do so as part of its August 2016 Annual General Meeting business. Any shares held in Treasury would have an indefinite life and would only be re-sold at a premium to net asset value, when calculated at par cum income, and after associated costs.

Should the Company's shares move to a premium to net asset value, any shares held in Treasury could be sold in a flexible and cost effective manner.

Baillie Gifford & Co Limited

Company Secretaries

2 December 2015

 

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