Net Asset Value and transaction price

RNS Number : 5540Z

Witan Investment Trust PLC

27 May 2016

 

27 May 2016

Witan Investment Trust PLC (the "Company") - Net Asset Value and transaction price

As at close of business on 26 May 2016, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 792.03p ex dividend and the net asset value per share including debt marked at fair value was 783.72p ex dividend.

As at close of business on 26 May 2016, the unaudited net asset value per share (calculated excluding current financial year revenue items) was 785.86p and the net asset value per share including debt marked at fair value was 777.55p.

On 26 May 2016 shareholders approved a related party transaction in the form of a market acquisition by the Company of up to 31,636,753 shares beneficially owned by Friends Life Limited. The offer to purchase these shares is at a discount of 6.5% to the prevailing published net asset value (cum income and debt at fair value) per share, which, at the close of business on 26 May 2016, was 783.72 pence per share.  Accordingly, the Company will repurchase up to 31,636,753 shares from Aviva Investors Global Services Limited, acting (through Canaccord Genuity Limited) as agent in its capacity as investment manager for and on behalf of Friends Life Limited, at a price of 732.78 pence per share (being a 6.5% discount to the prevailing published net asset value per share) alongside other market buyers at 2 p.m. today.

Enquiries:

J.P. Morgan Cazenove:

William Simmonds

020 7742 4000

Witan Investment Trust plc

Andrew Bell, Chief Executive Officer

Tel: [phone]

 

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