Discount Control Policy Update

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: [e-mail]

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.