BAILLIE GIFFORD EUROPEAN GROWTH TRUST PLC The Company announces that, as a result of the passing of resolution 12 at the Company's Annual General Meeting held on 24 January 2017, it has authority to repurchase up to a maximum of 6,296,814 of its ordinary shares. Such authority lasts until the Company's next Annual General Meeting in 2018, unless it has been fully exercised, or renewed or expressly revoked by shareholders before then.
The maximum price (exclusive of expenses) which may be paid by the Company for an ordinary share shall be no more than the higher of (a) 105% of the average of the closing market value of such shares (as derived from the Daily Official List of the London Stock Exchange) for the five business days prior to the date of purchase, and (b) the amount stipulated by Article 5(6) of the Market Abuse Regulation.
In addition, it is the Company's policy that repurchases of shares will only be made at prices below the prevailing net asset value of the Company's shares and where the Company's Directors consider it to be in the best interests of shareholders and the Company to do so.
It is expected that similar announcements will be made each time the share repurchase authority is renewed.
24 January 2017
Enquiries: Kenneth J Greig
Edinburgh Partners AIFM Limited Tel: 0131 270 3800
The Company's registered office address is: Beaufort House
51 New North Road
Exeter EX4 4EP
The European Investment Trust plc published this content on 24 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 January 2017 11:36:06 UTC.
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