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LONDON - The City of London Investment Trust PLC has announced the sale of 150,000 ordinary shares from its treasury stock today. The shares, each with a nominal value of 25p, were sold at a price of 471.0p per share. This transaction was conducted for cash and has affected the company’s voting rights distribution.
Following the sale, the total issued ordinary share capital of the company remains unchanged at 502,664,868 shares. However, the treasury now holds 10,272,762 of those shares, which are non-voting. Consequently, the number of shares considered for calculating voting rights is 492,392,106.
The company has specified the new distribution of voting rights as follows: 32,826,140 votes are assigned to the ordinary shares, with one vote available for every 15 shares owned. Additionally, the First Preference Stock carries 30,198 votes, with each £10 of stock held equating to one vote. The Preferred Ordinary Stock holds 29,484 votes, with one vote per £20 of stock held. This brings the total number of voting rights in The City of London Investment Trust to 32,885,822.
Shareholders may use this total voting rights figure as the denominator for the calculations required to determine whether they must disclose their interest in, or any changes to their interest in, the company under the Financial Conduct Authority’s (FCA) Disclosure Guidance and Transparency Rules.
The information provided here is based on a press release statement from The City of London Investment Trust PLC.
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