Montanaro Smaller Companies Trust PLC Repurchases Over 400,000 of its Own Shares, Boosting its Treasury Holdings

In a resolute attempt to bolster financial positioning, the Montanaro European Smaller Companies Trust, a highly esteemed PLC, recently purchased a staggering 411,283 shares of its own company. A calculated move priced at 145.2292 pence per share, this investment is aimed to fortify treasury holdings.

On the heels of this substantial transaction, the share capital of the Company now composes 173,106,389 issued ordinary shares (excluding the holdings in the treasury) and 16,321,211 ordinary shares comfortably housed in the treasury. This accumulates to a grand total of 189,427,600 issued ordinary shares, treasury holdings inclusive.

Regulatory stipulations by the Financial Conduct Authority require that any shares currently held in the treasury should be excluded for market reporting purposes. As a result, the figure corresponding to the ’notified interest’ should be 173,106,389 when market players are determining their interest or any alterations therein.

These major fiscal changes reach us courtesy of RNS – the authoritative news dissemination entity associated with the London Stock Exchange, identified as a Primary Information Provider (PIP). The timeframe of the announcement, the implications of the shares acquisition, and the outlook for the company following this transaction still remain under detailed analysis.