Capital Gearing Tst Publication of Circular and General Meeting
October 13 2021 - 10:23AM
UK Regulatory
TIDMCGT
Capital Gearing Trust P.l.c.
Publication of Circular and General Meeting
Since its approval at the annual general meeting in 2015, the Company has
successfully operated a discount and premium control policy (the "DCP"). This
has kept the Company's share price close to the prevailing net asset value and
has allowed the Company to issue new ordinary shares of 25 pence each ("
Ordinary Shares") to meet demand from existing and new investors in the Company
and to buy back Ordinary Shares for re-issuance from treasury where the
circumstances have required it.
The recent issuance levels mean that the Company's existing authorities to
issue shares on a non pre-emptive basis, granted at the annual general meeting
held on 6 July 2021, are likely to be exhausted prior to being refreshed at the
next annual general meeting which is expected to be held in July 2022. As a
result, in order to continue to operate the DCP and to meet the continuing
demand for the Ordinary Shares, the Board is seeking the early renewal of its
shareholder authorities to issue Ordinary Shares on a non pre-emptive basis.
Accordingly, the Company has today published a circular convening a general
meeting to be held at 11.00 a.m. on 4 November 2021 at the offices of Juniper
Partners Limited, 28 Walker Street, Edinburgh EH3 7HR (the "General Meeting").
At the General Meeting, resolutions will be proposed to give the Board
authority to issue up to 3,476,880 Ordinary Shares (being 20 per cent. of the
Company's current issued share capital) on a non pre-emptive basis.
A copy of the circular will shortly be available for inspection on the
Company's website at www.capitalgearingtrust.co.uk and on the National Storage
Mechanism which is located at https://data.fca.org.uk/#/nsm/
nationalstoragemechanism.
All enquiries:
Juniper Partners Limited
Company Secretary
Tel: 0131 378 0500
Email: company.secretary@capitalgearingtrust.com
END
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