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LONDON - Baillie Gifford UK Growth Trust PLC (LSE:BGUK) announced today it is seeking shareholder approval to renew its authority to buy back shares. The company has issued a circular detailing the proposals and has called a general meeting for July 3, 2025, to obtain the necessary shareholder authority.
The Board of Directors believes that renewing the buyback authority will offer several benefits. These include reinforcing market confidence by maintaining a single-digit discount to net asset value (NAV) in normal market conditions, providing increased liquidity for the company’s Ordinary Shares, reducing volatility in the share price discount to NAV, and potentially enhancing value for existing shareholders by repurchasing shares at a discount to the prevailing NAV.
The circular, which contains the full proposals and the notice for the upcoming general meeting, will be made available for public inspection shortly through the National Storage Mechanism and will also be accessible on the company’s official website.
The general meeting where shareholders will vote on the proposal is scheduled to take place at the offices of Baillie Gifford & Co in London. The outcome of this meeting could influence the company’s ability to implement the share buyback strategy as outlined by the Board.
This move is part of the company’s efforts to manage its share price and provide shareholder value. The information provided is based on a press release statement from Baillie Gifford UK Growth Trust PLC.
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