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LONDON - Bellevue Healthcare Trust PLC announced on Wednesday that its shareholders approved a special resolution during its General Meeting, allowing the company to buy back its own shares. This move is part of its ongoing strategy to maintain its Zero Discount Policy, which aims to stabilize the company’s share price.
The resolution received significant support, with 95.18% of the votes cast in favor, representing 46,275,795 votes. A smaller fraction, 4.82% or 2,344,383 votes, opposed the resolution, and there were 5,926 withheld votes. The total number of voting rights in the company at the time of the meeting was 209,431,116. The company’s issued ordinary share capital consisted of 315,152,309 shares, with 105,721,193 of these held in Treasury.
The Zero Discount Policy is designed to prevent the company’s shares from trading at a significant discount to net asset value. By authorizing the repurchase of its own shares, Bellevue Healthcare Trust can potentially reduce the supply of shares on the market, which may help in maintaining or increasing the share price.
The resolution details are available for shareholders to review in the Circular on the company’s website. Additionally, the resolution passed will be submitted to the National Storage Mechanism and will be accessible for inspection on the official website.
Bellevue Healthcare Trust’s decision to enact a share buyback is a common practice among companies seeking to manage their share price and provide value to shareholders. It is important to note that this article is based on a press release statement, and shareholders and investors are encouraged to review official company documents for comprehensive details on the resolution and its implications.
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