Share Buy-Back Authority

RNS Number : 0663O

Dunedin Income Growth Inv Tst PLC

15 August 2017

 

Dunedin Income Growth Investment Trust PLC

Legal Entity Identifier (LEI): 549300PPXLZPR5JTL763

Share Buy-Back Authority

Dunedin Income Growth Investment Trust PLC (the "Company") has appointed J.P. Morgan Securities plc to act as its broker in respect of its buy-back transactions.  In accordance with the terms of this engagement the Company is restating on an RNS the details of its current share buy-back authority.

At the annual general meeting held on 23 May 2017 the Company was granted authority to repurchase up to 22,501,989 of its ordinary shares.  As at 15 August 2017 the Company's had repurchased 7,634 ordinary shares pursuant to this authority.  Unless expressly revoked by shareholders, such authority shall expire at the conclusion of the next annual general of the Company or on 31 July 2018 (whichever is earlier).

The Board expects to renew this authority annually and it is expected that similar announcements will be made at the time of each renewal.

The buyback may be funded from the Company's own cash resources or, if appropriate, from short term borrowings.  The maximum price payable per share (exclusive of expenses) must not exceed the higher of: (i) 105% of the closing price for the five business days preceding the date of purchase; and (ii) the higher of the last independent bid and the highest current independent bid on the London Stock Exchange. Shares repurchased will either be held in treasury or cancelled.

This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.

Enquiries:

Aberdeen Asset Management PLC

Secretary

Tel. [phone]

 

END

 

 

MSCOKPDBNBKDCFD