Last checked at 20 Sep 2023 12:08
Temporary variation to buyback policy for former Ordinary ShareholdersForesight Technology VCT plc ("Company")
LEI: 21380013CXOR8N6OD977
Temporary variation to buyback policy for former Ordinary ShareholdersFurther to the announcement made by the Company on 7 July 2023 relating to the redesignation of the entire Ordinary Share Class to FWT Shares and Deferred Convertible Preference Shares (the “Redesignation”), the Board of the Company now wishes to offer those former Ordinary Shareholders who hold FWT Shares pursuant to the Redesignation the opportunity to have those shares repurchased by the Company.
As the buyback policy of the former Ordinary Shares class was that shares would be repurchased from time to time at a nil discount to NAV (subject only to transaction costs such as broker fees), subject to the stipulations below, the Board will apply these same terms to any such applications.
The above variation to the Company's buyback policy will apply (i) to applications received from former Ordinary Shareholders in the Company (ii) in respect of FWT Shares which they hold pursuant to the above-mentioned Redesignation and (iii) to applications received by the Company before 20 September 2024. After this date, the Company's usual buyback policy and discount to NAV will apply.
IMPORTANT: Shareholders who subscribed to an offer directly into FWT shares should not take part in a buyback as these shares have not been held for the requisite five-year holding period in order to crystallise upfront income tax relief.
For further information, please contact: Gary Fraser Foresight Group Telephone: 020 3667 8181