Notice of GM

10 January 2020

THE BIOTECH GROWTH TRUST PLC
(the "Company")

Notice of General Meeting – Renewal of buy back authority

The Board announces that a circular proposing the renewal of the authority of the Company to make market purchases of its ordinary shares (the “Shares”) and Notice of General Meeting (the “Proposal”) has today been posted to shareholders. 

At the Company’s Annual General Meeting on 11 July 2019, shareholders approved the renewal of the authority to buy back up to 14.99 per cent. of the then issued Share capital (the “Buy Back Authority”). As at 9 January 2020, 5,718,577 Shares have been repurchased, representing 12.0 per cent. of the issued share capital of the Company as at the date of the passing of the Buy Back Authority, and the Board believes that were the current rate of Share buybacks to continue, the remaining Buy Back Authority will be exhausted in the coming weeks or months. Therefore, the renewal of the authority is likely to be required in order for the Company to maintain its active discount management policy. The Board is therefore seeking to renew the Buy Back Authority to enable the Company to buy back up to 14.99 per cent. of the Shares in issue as at the date of the passing of the resolution to renew the Buy Back Authority.

The General Meeting to renew the Buy Back Authority will be held at 25 Southampton Buildings, London WC2A 1AL at 9.00 a.m. on Monday, 27 January 2020. Any authority granted to the Company will lapse at the conclusion of the 2020 Annual General Meeting of the Company.

Expected Timetable

	2020
Latest time and date for receipt of forms of proxy	9.00 a.m. on 23 January
General Meeting to approve the Proposal	9.00 a.m. on 27 January

A copy of the Circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. The Circular will also shortly be available on the Company's website at https://www.biotechgt.com.

Terms used and not defined in this announcement shall have the meanings given in the circular published by the Company on 10 January 2020.

Legal Entity Identifier: 549300Z41EP32MI2DN29

For and on behalf of

Frostrow Capital LLP
Company Secretary

For further information, please contact:

Mark Pope
Frostrow Capital LLP
Tel: [phone]