Lowland Investment gets shareholder approval for share buyback

LONDON - Lowland Investment Company PLC (LON:LWI) announced Wednesday that shareholders approved a special resolution authorizing additional share repurchases at its General Meeting.

The investment company received approval to buy back up to 32,973,842 ordinary shares, representing 14.99% of its issued ordinary share capital excluding treasury shares. This new authorization is in addition to the existing authority to purchase up to 1,163,299 shares that remained from the Annual General Meeting held on January 28, 2025.

Combined, these authorizations allow Lowland to repurchase a maximum of 34,137,141 ordinary shares until the next Annual General Meeting, expected in January 2026.

The special resolution passed with 93.10% approval, receiving 39,173,275 votes in favor and 2,902,995 votes against. The total votes cast represented 19.1% of the company’s total voting rights.

Lowland stated that J.P. Morgan Securities plc will act as its broker for market purchase transactions. The company indicated that it may utilize the authority to purchase shares either through a single transaction or a series of purchases when market conditions allow and shares are trading at a discount to net asset value per share.

The company noted that the approval does not indicate any commitment to purchase shares at any particular time or price, nor does it imply any opinion from the Directors regarding the market or value of the company’s shares.

At the voting record date, Lowland had 270,185,650 ordinary shares in issue, with 50,213,385 held in Treasury, resulting in 219,972,265 total voting rights.

The information is based on a regulatory announcement released by the company following the General Meeting.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.