Capital Gearing Trust P.l.c. (the
“Company”)
To:
PR Newswire
From:
Capital Gearing Trust P.l.c.
LEI: 213800T2PJTPVF1UGW53
Date:
8 June 2021
Discount Control Policy Update
Under the Company’s discount and premium control policy (the
“DCP”), the Company aims to purchase or issue shares to ensure, in
normal market conditions, that the shares trade consistently close
to their underlying net asset value per share. Due to continuing
high demand for the Company’s shares, the relevant prospectus
limits and existing issuance authorities required to operate this
policy are close to being exhausted. The Company’s ability to
issue new shares under the DCP will therefore be limited and
only a restricted number of shares will be available for issue each
day until (i) a prospectus in relation to the issuance of
further shares has been published (and the Company expects to
publish this ahead of the AGM); and (ii) the relevant issuance
authorities have been approved by shareholders at the upcoming AGM
on 6 July 2021.
Following the publication of the prospectus and the renewal of
the relevant issuance authorities the Board expects to resume the
normal operation of the DCP. In the meantime, if daily demands for
the Company’s shares remain high, these may not be capable of being
met in full through the issuance of new shares by the Company. The
Company’s ability to buy back shares under the DCP is
unaffected.
Juniper Partners Limited
Company Secretary
Email: company.secretary@capitalgearingtrust.com
This announcement has been determined to contain inside
information for the purposes of the UK version of the market abuse
regulation (EU) No.596/2014.