Notice of EGM

RNS Number : 2500P

Ruffer Investment Company Limited

13 July 2010

 



RUFFER INVESTMENT COMPANY LIMITED ("the Company")

Notice of Extraordinary General Meeting and possible further issue of shares

The Company wishes to announce that it has today posted a circular to shareholders convening an extraordinary general meeting of the Company to be held at 11.00 a.m. on 6 August 2010 at which proposals will be put forward for the adoption of new articles of association which will grant pre-emption rights in respect of the allotment of shares in the Company for cash and include certain other non-material amendments to reflect the adoption of the Companies (Guernsey) Law, 2008, and the subsequent disapplication of such pre-emption rights for an unlimited number of shares for cash until the annual general meeting of the Company in 2013.

The proposals will enable the Company to continue to meet its ongoing regulatory requirements for a 'premium' listing under the Listing Rules.

A copy of the circular will be available for inspection at the UKLA's Document Viewing Facility, which is situated at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.

The circular will also be available to view on Cenkos Securities plc's website (www.cenkos.com).  Copies may be obtained from the registered office of the Company at Trafalgar Court, Les Banques, St. Peter Port, Guernsey GY1 3QL.

The Company also wishes to announce that it is considering a further issue of Shares.

In the period from 3 July 2009 to 2 July 2010, the net asset value per Share has increased from £1.5303 to £1.8090, representing an increase of 18.2 per cent. During this period the premium to net asset value at which the Shares trade increased from 2.4 per cent. to 8.8 per cent.

In view of this performance, the Company is considering increasing its size through the issuance of new shares for cash to provide the Company with additional proceeds to invest in accordance with the Company's investment strategy.  Any such share issuance would be at a premium to net asset value and would be expected to broaden the Company's investor base and improve market liquidity for existing shareholders.

The Company will make a further announcement in due course.

For further information, please contact:

Northern Trust International Fund Administration Services (Guernsey) Limited                             [phone]  

Fraser Hiddelston

Cenkos Securities Plc               [phone]

Peter Hindmarsh

Charlie Ricketts

 

END

 

 

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