30 Jul 2019 15:28
30 July 2019
Hadrian's Wall Secured Investments Limited
Transaction in own shares
Hadrian's Wall Secured Investments Limited (the "Company") has today repurchased 670,796 ordinary shares of no par value (the "Shares") at 80.0 pence per Share to be held in treasury. Following this repurchase the Company has 144,499,667 Shares in issue, excluding 670,796 Shares held in treasury. The Company has 144,499,667 total voting rights.
The Board has recently become aware of an overhang of Shares in the market and notes the recent deterioration in the Company's Share price. In light of the wide discount to NAV at which the Shares have been trading and the Company having available to it a limited amount of surplus cash, the Board decided to buy back those Shares available at the prevailing market price. This Share buyback will be accretive to the NAV per Share and the Board believes that it represents a good use of cash at the prevailing discount. The Board, however, notes that the Company remains fully invested and the ability to undertake any further buybacks is dependent, amongst other things, on the Company's cash position and the market in the Shares.
Contact Details
Hadrian's Wall Capital Limited (Investment Adviser)Ron Miao / Mike SchozerTelephone 020 3026 8620
Winterflood Investment Trusts (Corporate Broker)Joe Winkley / Neil MorganTelephone 020 3100 0000
LEI: 213800ABN7VKMVNOLG14