Polar Capital Technology Trust PLC, a prominent player in the financial industry, has made an assertive step in its business strategy by purchasing a significant number of its own shares. This is a follow-up to a resolution made at the annual general meeting held on 11 September 2024, demonstrating the company’s commitment to its shareholders’ interests.
On the 1st of April 2025, Polar Capital Technology Trust engaged in a substantial share buyback, acquiring 199,229 ordinary shares of 2.5p each, a substantial transaction which needs to be declared. The move was strategical; not only did it reduce the total voting rights substantially, but it also firmly established the baseline for the calculation of interests. With the shares set to be placed into treasury, it speaks volumes of the company’s strong financial position and its commitment to enhancing shareholder value.
CEO of Conduit Holdings Limited, Trevor Carvey, has demonstrated a vote of confidence in the Bermuda-based company with the acquisition of an additional 70,000 common shares. The company made this announcement on 1st April 2025, confirming that the shares were purchased via the London Stock Exchange’s regulated market. This transaction swells Carvey’s total ownership interest in the company to an impressive 834,161 common shares. This substantial stake also includes shares held by PCA Catherine Carvey.
The pertinent details of the transaction disclose that the shares were acquired at prices ranging from £3.39 to £3.423, putting the aggregated total for the common shares at £238,289. This puts the average price per common share at £3.404. Carvey’s decision to expand his stake in the company sends a strong signal of his belief in its performance and prospects.