Chrysalis VCT PLC commences an Equity Buyback Plan for 4,457,637 shares, representing 14.99% of its issued capital under the authorization approved on February 27, 2018.
June 27, 2018 at 12:00 am EDT
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Chrysalis VCT PLC (LSE:CYS) commences share repurchases on June 27, 2018 under the program mandated by the shareholders in the Annual General Meeting held on February 27, 2018. As per the mandate, the company is authorized to repurchase up to. Under the program, the company will repurchase up to 4,457,637 ordinary shares, representing 14.99% of its issued capital. The minimum price which may be paid is £0.01 per share. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle market quotations of the ordinary shares as derived from the Daily Official List of the London Stock Exchange, for each of the 5 business days immediately preceding the day on which the ordinary share is contracted to be purchased. The program will be valid till the next Annual General Meeting or for 15 months, whichever is earlier. As of October 31, 2017, the company had 29,917,025 shares in issue.
Chrysalis VCT plc is a venture capital trust (VCT). The Company's principal investment objectives are to achieve long term capital growth and generate tax-free income for its shareholders principally from private equity and alternative investment market (AIM) investments, and comply with the VCT regulations to enable shareholders to retain the initial income tax relief and ongoing tax reliefs. The Company focuses on holding a portfolio of venture capital investments, consisting of unquoted companies, but also, including a proportion of investments in companies trading on AIM. The Company invests in companies across a range of sectors, to fund expansion, acquisitions, management buyouts or turn around opportunities. The Company focuses on holding over 70% of its investments in a portfolio of VCT-qualifying companies. The Company focuses on holding a portfolio consisting of bonds issued by companies and institutions. The Company's investment manager is Chrysalis VCT Management Limited.
Chrysalis VCT PLC commences an Equity Buyback Plan for 4,457,637 shares, representing 14.99% of its issued capital under the authorization approved on February 27, 2018.
CHRYSALIS VCT PLC 