Bellevue Healthcare Trust PLC Share Buyback Authority
20 Noviembre 2024 - 5:10AM
RNS Regulatory News
RNS Number : 9903M
Bellevue Healthcare Trust PLC
20 November 2024
Bellevue Healthcare Trust
plc
Share Buyback
Authority
Bellevue Healthcare Trust plc ("the
Company") announces that pursuant to its ongoing share buyback
programme and in order to remove the administrative burden of
overseeing share buybacks on a day-to-day basis from the Company's
management team, it has entered into an irrevocable
non-discretionary agreement with J.P.
Morgan Securities plc ("JPMS plc") pursuant to
which JPMS plc will acquire ordinary shares in the
Company, within certain pre-set parameters, for subsequent sale on
to and purchase by the Company. Shares bought back are held in
treasury and will be re-sold only at, or at a premium to, the
prevailing net asset value at the time of issue.
JPMS plc will make its trading decisions
in relation to the ordinary shares independently of, and
uninfluenced by, the Company. The agreement will terminate at the
Company's next annual general meeting, after which it may be
renewed. Purchases will be made within the authorities granted by
shareholders at the Company's annual general meeting held
on 26 April 2024 at which shareholders approved that the
Company be authorised to make market purchases of its own ordinary
shares up to a maximum of 69,342,023 ordinary shares, being 14.99%
of the ordinary shares then in issue. Since the Company's annual
general meeting on 26 April 2024, the Company has repurchased
14,568,655 ordinary shares, leaving an authorised share buyback
balance of up to 54,773,368 ordinary shares as at 19 November
2024.
This arrangement is in accordance with Chapter
9 of the United Kingdom Financial Conduct Authority Listing Rules
("the Listing Rules") and the Company's general authority to
repurchase shares. No maximum pecuniary amount has been allocated
to the Programme by the Company but repurchases will be conducted
in accordance with the Company's established practice, the Listing
Rules and applicable regulation.
As in recent years, the buyback will continue
to be undertaken in order to provide liquidity in the market, while
being accretive to the net asset value and helping to moderate
discount volatility.
The Company's LEI is:
213800HQ3J3H9YF2UI82
Enquiries:
|
J.P.
Morgan Cazenove
|
|
William Simmonds, Rupert Budge
|
|
Telephone: +44 (0)20 3493 8000
|
|
|
|
NSM Funds (UK)
Limited
|
|
Brian Smith, Ciara McKillop
|
|
Telephone: +44 (0)20 3697 5770
|
|
|
|
Bellevue Asset
Management (UK) Ltd.
|
|
Mark Ghahramani
|
|
Telephone: +44 (0) 203 326 2981
|
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact
rns@lseg.com or visit
www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our
Privacy
Policy.
END
MSCQKKBKDBDDFDB
Bellevue Healthcare (LSE:BBH)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024
Bellevue Healthcare (LSE:BBH)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024
