Performance-based Tender Offer Not Triggered

RNS Number : 6325H

Pacific Horizon Investment Tst PLC

01 August 2019

 

PACIFIC HORIZON INVESTMENT TRUST PLC

("The Company")

Legal Entity Identifier: VLGEI9B8R0REWKB0LN95

Performance-based Tender Offer Not Triggered

As first detailed in the Company's 2016 Annual Report, the Board has authority to buy back shares pursuant to a tender offer for up to 25 per cent. of the Company's issued Ordinary Share capital to be triggered, at the Board's discretion, if the Company's net asset value (calculated at fair value cum-income) total return failed to exceed the Company's comparative index (MSCI All Country Asia ex Japan Index (in sterling terms)) by at least 1 per cent. per annum over a three year period from 31 July 2016 to 31 July 2019 on a cumulative basis.

The Board is pleased to report that, over the three year period from 31 July 2016 to 31 July 2019, the Company outperformed the comparative index by 3.1 percentage points on an annualised basis (based on unaudited numbers).  Accordingly, the performance-based tender offer for up to 25 per cent. of the Company's issued Ordinary Share capital will not take place.

The Company's next Continuation Vote will take place as part of the 2021 Annual General Meeting business.

Baillie Gifford & Co Limited

Company Secretaries

1 August 2019

Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU.

For further information please contact:

Anzelm Cydzik, Baillie Gifford & Co

Tel: [phone]

Roland Cross, Director, Four Broadgate

Tel: [phone] or 07831 401309

 

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