Schiehallion Fund Limited (The) Capital Allocation Update (1081S)
02 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMMNTN
RNS Number : 1081S
Schiehallion Fund Limited (The)
02 November 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 which forms part of
domestic law in the United Kingdom pursuant to The European Union
Withdrawal Act 2018, as amended by The Market Abuse (Amendment) (EU
Exit) Regulations 2019.
The Schiehallion Fund Limited
LEI: 213800NQOLJA1JCWXQ56
Capital Allocation Update
The Board notes that, since the Conversion of the C Shares in
September, the discount to net asset value ('NAV') at which the
Company's Ordinary Shares trade has widened.
The Board and the Investment Manager are focussed on maximising
returns for Shareholders over the long term and, in this context,
their priority is to ensure that the Company has sufficient capital
to deliver on its objectives, including supporting existing
investments and satisfying the Company's ongoing working capital
requirements.
That said, the Board and the Investment Manager believe that the
Ordinary Shares represent an attractive investment opportunity at a
deep discount to NAV. As such, the Company intends to allocate up
to US$20m towards share repurchases given the limited available
capital at this current time. The Board will keep this capital
allocation and associated share buyback policy under review.
The person responsible for arranging for the release of this
announcement on behalf of the Company is Mr Alex Blake of Baillie
Gifford & Co Limited.
Enquiries
Winterflood Securities Limited 020 3100 0000
Neil Morgan
Baillie Gifford & Co 0131 275 2000
Alex Blake
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