Blackrock Greater Europe Investment Trust PLC - investment trust focused on small, mid and large-cap European companies - Announces that it has decided not to implement a semi-annual tender offer in May. Says that it has concluded that the tender offer was not in shareholders' best interests as its average share price discount to net asset value, on a cum income basis, was 5.29% over the six months to March 31. The discount was 6.29% at the close of business on Tuesday.
Company says its board remains committed to managing the discount to NAV, and that it will look to buy back shares and/or operate six monthly tender offers if this is deemed to be in the interests of shareholders as a whole.
Current stock price: 560.95 pence, up 4.9% on Wednesday in London
12-month change: up 11%
By Emma Curzon, Alliance News reporter
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