Jupiter Green Investment Trust PLC : Discount M...
26 April 2012
Jupiter Green Investment Trust PLC
(the "Company")
Discount management policy
In the announcement on 3 April 2012 relating to the proposals to introduce an annual subscription right to be embedded within the existing share rights (the "Announcement") the Board outlined its commitment to seeking to limit the level and volatility of the discount to NAV at which the shares may trade.
Having consulted with shareholders, the Board has decided to proceed with bringing these proposals forward to shareholders. In conjunction with these proposals, the Board has adopted a revised discount control policy with immediate effect. Over the coming months, the Board intends to use share buy backs to seek to narrow the discount to net asset value at which the Company's shares trade over time, with a view to achieving a position by the time of the Company's Annual General Meeting in 2013, where, in normal market conditions, the Company's share price does not materially deviate from its net asset value.
It is the Board's current intention to continue this policy following the AGM in 2013. The Board believes that, if successful, the removal of discount risk will allow new investors that believe in the investment thesis to buy shares at or slightly above net asset value and that this will allow the Company to grow over time.
As outlined in the Announcement, it is the Board's view that the Company is currently in the position where it is currently too small to appeal to the widest universe of potential investors. The Board believes that strong investment performance, with active marketing of the Company's unique investment proposition, a more aggressive approach to discount control and the creation of the embedded subscription rights, will enhance the attraction of the Company to investors and maximize the Company's ability to increase its market capitalisation over time.
The proposals relating to the creation of embedded subscription rights described in the Announcement are subject to shareholder consent and regulatory approvals. A circular will be posted to shareholders in May with further details.
Enquiries:
Jupiter Green Investment Trust PLC
Richard Pavry (Investment Trusts) +44 20 7314 4822
Faith Pengelly (Company Secretary) +44 207 314 4915
Alicia Wyllie (Media) +44 207 314 5573
Oriel Securities +44 207 710 7600
Joe Winkley
Sapna Shah
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Jupiter Green Investment Trust PLC via Thomson Reuters ONE
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