Artemis VCT plc commences an Equity Buyback Plan for 7,952,272 shares, representing 14.99% of its issued share capital, under the authorization approved on February 13, 2019.
March 13, 2019 at 09:30 am IST
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Artemis VCT plc (LSE:AAM) commences share repurchases on March 13, 2019, under the program mandated by the shareholders in the Annual General Meeting held on February 13, 2019. As per the mandate, the company is authorized to repurchase up to 7,952,272 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for such shares is £0.01 per share. The maximum price which may be paid for an ordinary share shall be the higher of 5% above the average of the middle market quotations of the ordinary shares (as derived from the Daily Official List of the London Stock Exchange) for the five business days immediately preceding the date on which the relevant ordinary share is contracted to be purchased; and the higher of the last independent trade and the highest current independent bid on the London Stock Exchange. The company is generally and unconditionally authorized to make market purchases as defined in Section 693(4) of the Companies Act 2006. Any ordinary shares purchased under this authority will either be cancelled or be held in treasury. The program will be valid till the next Annual General Meeting in 2020.
Artemis VCT Plc is a United Kingdom-based venture capital trust (VCT), whose business is to buy and sell investments. The Company's investment objective is to achieve long-term capital and income growth and to generate tax-free capital and income distributions. The Company is engaged in the business of investing in shares and securities issued by companies operating in the United Kingdom. The Company invests in a diversified portfolio of companies across a range of industries, with a focus on companies whose shares are traded on Alternative Investment Market (AIM). The Company also invests in ICAP Securities and Derivatives Exchange (ISDX) and unquoted companies. It holds investments in various sectors, such as industrials, technology, healthcare, consumer services, financials, consumer goods, utilities, and oil and gas. Artemis Fund Managers Limited is the alternative investment fund manager for the Company.
Artemis VCT plc commences an Equity Buyback Plan for 7,952,272 shares, representing 14.99% of its issued share capital, under the authorization approved on February 13, 2019.
ARTEMIS VCT PLC