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GUERNSEY - Fair Oaks Income Limited, a registered closed-ended collective investment scheme, has issued 2 million treasury shares to meet investor demand, the company announced on Thursday. The shares, known as 2021 Shares, were issued at a price of 54.63 cents each, which is a premium over the current net asset value (NAV) per share.
This move comes as part of the company’s strategy to respond to market demand and maintain its commitment to a share buyback program that was originally announced in September 2022. Fair Oaks Income Limited has indicated that it may continue to issue more shares at a premium to the NAV depending on market conditions.
Following this transaction, the total number of voting rights in the company has been updated. Fair Oaks Income Limited now has 405,815,477 2021 Shares and 33,131,786 Realisation Shares in issue, excluding 24,935,626 2021 Shares held in treasury. The aggregate number of shares totals 438,947,263, with the total voting rights standing at 414,011,637. These voting rights are significant for shareholders who need to disclose their interest or any changes to it according to the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The company’s management of its share capital, through both the issuance of treasury shares and the share buyback program, reflects its ongoing efforts to manage its capital efficiently and provide liquidity to its shareholders.
The information contained in this article is based on a press release statement from Fair Oaks Income Limited.
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