Share Buyback Authority

Bellevue Healthcare Trust PLC

20 November 2024

 

Bellevue Healthcare Trust plc

Share Buyback Authority

Bellevue Healthcare Trust plc ("the Company") announces that pursuant to its ongoing share buyback programme and in order to remove the administrative burden of overseeing share buybacks on a day-to-day basis from the Company's management team, it has entered into an irrevocable non-discretionary agreement with J.P. Morgan Securities plc ("JPMS plc") pursuant to which JPMS plc will acquire ordinary shares in the Company, within certain pre-set parameters, for subsequent sale on to and purchase by the Company. Shares bought back are held in treasury and will be re-sold only at, or at a premium to, the prevailing net asset value at the time of issue.

JPMS plc will make its trading decisions in relation to the ordinary shares independently of, and uninfluenced by, the Company. The agreement will terminate at the Company's next annual general meeting, after which it may be renewed. Purchases will be made within the authorities granted by shareholders at the Company's annual general meeting held on 26 April 2024 at which shareholders approved that the Company be authorised to make market purchases of its own ordinary shares up to a maximum of 69,342,023 ordinary shares, being 14.99% of the ordinary shares then in issue. Since the Company's annual general meeting on 26 April 2024, the Company has repurchased 14,568,655 ordinary shares, leaving an authorised share buyback balance of up to 54,773,368 ordinary shares as at 19 November 2024.

This arrangement is in accordance with Chapter 9 of the United Kingdom Financial Conduct Authority Listing Rules ("the Listing Rules") and the Company's general authority to repurchase shares. No maximum pecuniary amount has been allocated to the Programme by the Company but repurchases will be conducted in accordance with the Company's established practice, the Listing Rules and applicable regulation.

As in recent years, the buyback will continue to be undertaken in order to provide liquidity in the market, while being accretive to the net asset value and helping to moderate discount volatility.

The Company's LEI is: 213800HQ3J3H9YF2UI82

  Enquiries:

J.P. Morgan Cazenove

William Simmonds, Rupert Budge

Telephone: [phone]

NSM Funds (UK) Limited

Brian Smith, Ciara McKillop

Telephone: [phone]

Bellevue Asset Management (UK) Ltd.

Mark Ghahramani

Telephone: [phone]

 

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