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LONDON - Bellevue Healthcare Trust plc (LSE:BHT) announced on Friday it will hold a General Meeting on November 6 to seek shareholder approval for additional share repurchase authority to support its zero discount policy.
The company is requesting the renewed authorization after having repurchased 115,841,187 of its own shares since implementing the policy on April 23, 2025. According to the company’s statement, its shares have traded at an average discount to net asset value (NAV) of 2.2 percent during this period.
The zero discount policy, introduced earlier this year, aims to maintain the company’s share price at or around its net asset value per share under normal market conditions. The trust’s current share repurchase authority, approved at a general meeting on September 29, may soon be fully utilized.
"Without this further authority, the Company may not have sufficient authority remaining to continue to purchase its own Shares to support the Zero Discount Policy," the company stated in its press release.
The General Meeting will take place at 10:00 a.m. on November 6 at the offices of NSM Funds (UK) Limited in London. Shareholders must submit proxy appointments by 10:00 a.m. on November 4 to participate in the vote.
The company has published a circular containing the notice of the General Meeting, which will be available on the National Storage Mechanism and the company’s website.
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