Pantheon International spends GBP800,000 on buyback programme in April

(Alliance News) - Pantheon International PLC on Friday reported improved year-on-year performance for the month of April.

The London-based investment trust said net asset value per share was 489.70 pence at April 30, up 8.1% from 452.90p a year prior.

Over the period Pantheon underperformed the MSCI World Index which grew 19% over the year. However, the trust returned more than the FTSE All-Share Index which was up 7.5%.

NAV stood at GBP2.3 billion, down 4.2% from GBP2.4 billion.

During April the trust committed GBP800,000 to repurchase 2.5 million shares at 325.70p each, reflecting an average discount of 33% to the prevailing NAV per share at time of purchase.

The buyback forms part of a wider programme initiated in August to spend GBP200 million by June 1 in order to address the enduring discount of its share price to NAV.

Pantheon International shares were up 0.2% to 327.00 pence each in London on Friday morning.

By Elijah Dale, Alliance News reporter

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