Confirmation of Buyback Utilisation

RNS Number : 3824O

Polar Capital Technology Trust PLC

09 June 2022

 

Polar Capital Technology Trust PLC ("the Company or PCTT")

LEI: 549300TN1O5392UC4K19

9 June 2022

STATEMENT REGARDING SHARE BUY-BACKS

The Company does not have an absolute target discount level at which it will buy back shares but it has historically bought back significant amounts of the outstanding share capital when deemed appropriate. Over the 12 months to 9 June 2022, the Company has repurchased 4,834,691 shares.

This approach does not preclude a more active approach as discounts widen and the Investment Manager may consider that a single purchase or a series of purchases of shares in current or greater volumes, which would enhance the Company's NAV per share, would be an attractive investment of the Company's cash resources, given the positive long-term prospects for the Company's portfolio.

Nothing in this announcement should be taken to mean that reliance may be placed on the occurrence of such buybacks in practice.

For further information, please contact:

S Bates - Chair C Cripps - Chair Elect Polar Capital Technology Trust plc	B Rogoff - Fund Manager T Lago - Company Secretary Polar Capital LLP	Mark Bloomfield - Corporate Alex Miller - Corporate Stifel Nicolaus Europe Limited
Tel. [phone]	Tel. [phone]	Tel. [phone]

Draft confirmation of buybacks announcement June 7

 

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