22 Feb 2012 07:00
TAU CAPITAL PLC
(the "Company" or "Tau")
Share Buy-back
Tau announces that further to the announcement on 20 February 2012 that it intended to exercise its authority to buy back up to 10 per cent of the shares in issue with immediate effect, it has repurchased 11,491,538 shares at $0.4175.
The repurchased shares will be cancelled as soon as possible. After such cancellation, Tau will have 226,958,464 shares in issue.
As a result of the buy-back, Tau will have remaining authority to buy back a further 12,353,462 of the shares in issue, which it intends to continue to exercise in a way that addresses the discount and enhances NAV per share.
In addition as previously announced the Board intends to seek approval at the next annual general meeting to renew the share buy back authority and proposes to implement an ongoing buy back of at least 8 per cent of the issued capital on an annual basis subject to the discount to NAV being 10 per cent or greater.
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