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LONDON - RIT Capital Partners (WA:CPAP) PLC, a self-managed investment trust listed on the London Stock Exchange (LON:LSEG), has announced the cancellation of 15,733,152 ordinary shares previously held in treasury. The cancellation took place today, reducing the total number of issued shares to 141,114,913. This action also adjusts the total voting rights in the company to the same figure, which will serve as the denominator for shareholder notifications as per the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The company has confirmed that this cancellation of treasury shares will not affect its net asset value per share. Shareholders and potential investors can consider this updated share count effective immediately for any calculations regarding their interest in the trust.
RIT Capital Partners has not disclosed any additional strategic rationale for the cancellation of the treasury shares beyond the details provided in the announcement. The company’s management and joint brokers, including J. Rothschild Capital Management, Deutsche Numis, and JP Morgan Cazenove, have been listed as contacts for further information, although no further details were provided in the press release.
The London Stock Exchange’s news service RNS, authorized by the Financial Conduct Authority in the UK, provided this information. The terms and conditions for the use and distribution of this information may apply, as per the standard regulatory framework.
This action by RIT Capital Partners follows standard corporate governance practices regarding treasury shares and share capital management. It is a common procedure among publicly traded companies to adjust their capital structure for various strategic reasons, including enhancing the value of remaining shares or preparing for potential acquisitions or restructuring.
Investors in RIT Capital Partners PLC can reference the updated share and voting rights information for their records and any future transactions or declarations they may need to make under the relevant financial regulations. This news is based on a press release statement and reflects the facts as reported by the company.
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