21 May 2020 07:00
ABERDEEN STANDARD EQUITY INCOME TRUST PLC (the "Company")
Legal Entity Identifier (LEI): 21380015XPT7BZISSQ74
21 May 2020
Aberdeen Standard Equity Income Trust PLC (the Company) is amending its disclosure policy to include on a regulatory information services (RIS) details of its share buyback powers which it renews annually. It is expected similar announcements will be made every time the share buyback authority is renewed.
The Company announces that it has authority to repurchase a maximum of 7,333,277 of its ordinary shares (being its outstanding shareholder authority). Such authority lasts until the next shareholder authority granted, or where expressly revoked by shareholders. The buyback may be funded from the Company's resources (including redemptions on funds the Company has invested in and debt facilities). No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buy-back which would equate to a premium on the net asset value.
The Company has appointed J.P. Morgan Securities plc to act as its broker in respect of the buy-back.
The buy-back will be undertaken pursuant the Company's discount management programme.
This arrangement is in accordance with Chapter 12 of the FCA Listing Rules and the Company's general authority to repurchase shares.
Aberdeen Asset Management PLC
Company Secretary
0131 528 4270