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LONDON - The City of London Investment Trust PLC has announced the sale of 175,000 treasury shares for cash, a transaction that took place today. Managed by Janus Henderson Fund Management UK Limited, the trust sold the shares at a price of 470.0p each.
Following this sale, the issued ordinary share capital of the company remains at 502,664,868 shares of 25p each. Out of these, 9,897,762 shares are held in Treasury and consequently do not carry voting rights. This leaves the total number of ordinary shares carrying voting rights at 492,767,106.
The company has detailed its voting rights structure, which includes 32,851,140 voting rights for ordinary shares, with one vote allocated for every 15 shares held. Additionally, there are 30,198 voting rights for the First Preference Stock, with one vote per £10 of stock held, and 29,484 for the Preferred Ordinary Stock, with one vote per £20 of stock held. The aggregate number of voting rights in The City of London Investment Trust now stands at 32,910,822.
Shareholders may use this total voting rights figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the trust, according to the Financial Conduct Authority’s (FCA) Disclosure Guidance and Transparency Rules.
This sale from treasury is a routine financial operation for the trust, which periodically adjusts its treasury shares to manage capital and provide liquidity. The information regarding this sale is based on a press release statement by The City of London Investment Trust PLC.
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