Baillie Gifford European Growth Trust plc commences an Equity Buyback Plan for 53,767,282 shares, representing 14.99% of its issued share capital, under the authorization approved on February 2, 2023.
April 21, 2023 at 12:00 am EDT
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Baillie Gifford European Growth Trust plc (LSE:BGEU) commences share repurchases on April 21, 2023, under the program mandated by the shareholders in the Annual General Meeting held on February 2, 2023. As per the mandate, the company is authorized to repurchase up to 53,767,282 shares, representing 14.99% of its issued share capital. The minimum price which may be paid by the company shall be the nominal value of that share and 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 5% of the average of the closing mid-market price 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 the purchase. The repurchased shares will be used either for retention as treasury shares for future reissue, resale, transfer
or cancellation. The plan will expire at the conclusion of the next Annual General Meeting of the Company, unless previously varied, revoked or renewed by the company in a general meeting. As of November 18, 2022, the company had 358,687,671 ordinary shares in issue.
Baillie Gifford European Growth Trust plc is a United Kingdom-based investment company. The Company's investment objective is to achieve capital growth over the long term from a diversified portfolio of European securities, irrespective of where they are listed. The Company is invested in a diversified portfolio of between 30 to 60 European companies. The Company may not invest more than 10% of its total assets in any one individual stock at the time of investment. No more than 10% of the total assets of the Company may be invested in other listed investment companies (including investment trusts) except in those that have stated that they will invest no more than 15% of their total assets in other listed investment companies. In this case, the limit is 15%. The Company's investment sectors include utilities, real estate, materials, consumer discretionary, information technology, industrials, and others. The Companyâs alternative investment fund manager is Baillie Gifford & Co Limited.
Baillie Gifford European Growth Trust plc commences an Equity Buyback Plan for 53,767,282 shares, representing 14.99% of its issued share capital, under the authorization approved on February 2, 2023.
BAILLIE GIFFORD EUROPEAN GROWTH TRUST PLC 
