Repayment of Zero Coupon Fina

RNS Number : 7079O

Glasgow Income Trust PLC

11 March 2009

 



Glasgow Income Trust plc

11 March 2009

The Board of Glasgow Income Trust plc announces that the Company has repaid £23m of its zero coupon finance obligation of £60.8m.  The repayment was split between the two outstanding tranches of zero coupon finance; £10m of the January 2010 maturity and £13m of the April 2011 maturity were closed out. The repayment was made from the Company's existing cash resources leaving the outstanding zero coupon finance at less than £38m.  This is broadly equal to the value of the Company's cash and holdings in fixed interest and preference stocks.  The Company has no borrowings.  The Board will continue to keep the structure of the Company's balance sheet under review in the light of the investment objective and market conditions.

Aberdeen Asset Management PLC

Company Secretary

 

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