Share Buyback Programme

RNS Number : 1462U

Global Smaller Cos. Trust PLC (The)

28 July 2022

 

28 July 2022

The Global Smaller Companies Trust PLC

LEI: 2138008RRULYQP8VP386

Share Buyback Authority

The Global Smaller Companies Trust PLC (the "Company") is restating the details of its current share buyback authority.

At the annual general meeting held on 28 July 2022 the Company was granted authority to repurchase up to 81,650,669 of its ordinary shares.  The Company announces that as at 28 July 2022 it has authority to repurchase up to 81,650,669 of its ordinary shares remaining. Unless expressly revoked by shareholders, such authority shall expire at the conclusion of the next annual general meeting of the Company or on 30 October 2023 (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.

Any 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 average middle market quotations 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.

The Company instructs Stifel Nicolaus Europe Limited to act as its broker in respect of its buyback transactions. Any buybacks will be undertaken in accordance with the Company's discount control policy. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.

Name of contact and telephone number for enquiries:

Jonathan Latter

For and on behalf of Columbia Threadneedle Investment Business Limited,

Company Secretary

Telephone: [phone]

 

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