NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATON FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
For immediate release
2 November 2023
TROY INCOME & GROWTH TRUST PLC
(the "Company")
Possible Scheme of Reconstruction and Discount Control Mechanism
Recent buyback activity means that the Company is now very close to (i) fully utilising its existing authority to repurchase Shares; and (ii) depleting its distributable reserves (which are required to effect buybacks under the discount control mechanism ("DCM")). In addition, the Board is currently exploring possible options for a combination with another investment trust which would be effected by a scheme of reconstruction.
Therefore, in the light of the above matters the Company is suspending the DCM and the buyback of its shares with effect from close of business today.
Further details of the proposed scheme of reconstruction will be announced by the end of November. There is no guarantee that the terms of any scheme will be agreed or become effective. In the event that the Board decides not to proceed with a scheme of reconstruction, it will provide a further update on when the DCM will recommence.
For further information, please contact:
| Troy Income & Growth Trust plc | |
| B Guerin (Chair) | via Juniper Partners Limited
|
| Juniper Partners Limited (Company Secretary) | +44 (0)131 378 0500
|
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Notes:
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Important Information
This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the UK version of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014) which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain.
Legal Entity Identifier (LEI): 213800HLNMQ1R6VBLU75
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