Result of AGM

RNS Number : 8724J

Ruffer Investment Company Limited

10 December 2008

 



RUFFER INVESTMENT COMPANY LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 41996)

9 December 2008

At the Annual General Meeting of the Company held on 4 December 2008, all Ordinary Resolutions set out in the AGM Notice sent to shareholders dated 14 November 2008 were duly passed.

At the same Annual General Meeting noted above, the following Special Resolution was also passed:

SPECIAL RESOLUTION:

 

After consideration IT WAS RESOLVED to approve that the Company, be and is hereby generally and unconditionally authorised in accordance with The Companies (Purchase of Own Shares) Ordinance, 1998 to make purchases as defined in that Ordinance of its Participating Shares of 0.01p each (“Shares”), provided that:-

 

(i)         the maximum number of Shares hereby authorised to be purchased by the Company shall be 15,906,949 being equivalent to no more than 14.99% of the Company’s issued share capital at the date of this resolution;

 

(ii)        the minimum price (exclusive of expenses) which may be paid for a Share is 0.01P, being the nominal value per share;

 

(iii)       the maximum price (exclusive of expenses) which may be paid for the Share is an amount equal to the higher of (i) 105 per cent of the average of the middle market quotations for a Share taken from the London Stock Exchange Daily Official List for the 5 business days immediately preceding the day on which the Share is purchased and (ii) the price stipulated in Article 5(i) of the Buy-back and Stabilisation Regulation (No 2237 of 2003);

 

(iv)       purchases may only be made pursuant to this authority if the Shares are (at the date of the proposed purchase) trading on the London Stock Exchange at a discount to the lower of the undiluted or diluted Net Asset Value;

 

(v)        the authority hereby conferred shall expire at the conclusion of the Annual General Meeting of the Company in 2009 or, if earlier, on the expiry of 12 months from the passing of this resolution, unless such authority is renewed prior to such time; and

 

(vi)       the Company may make a contract to purchase Shares under the authority hereby conferred prior to the expiry of such authority which will or may be executed wholly or partly after the expiration of such authority and may make a purchase of Shares pursuant to any such contract.

 

 

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Fraser Hiddelston        44 (0)1481 745738

 

END

 

 

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