Schroders Capital Growth Innovation hires Winterflood for share repurchase programme
The repurchase programme will begin today and last until 31 December 2024.
According to an RNS announcement the trust — formerly known as the Woodford Patient Capital trust — has hired Winterflood Investment Trusts to manage the «irrevocable» programme to buy back ordinary shares, which will begin today until 31 December 2024.
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INOV has also received court approval to cancel its share premium account and said it has «sufficient distributable reserves» to undertake the share repurchase programme.
According to its policy, the trust will have general buy back authority of 14.99% of its issued share capital, as approved at its annual general meeting this year.
INOV has a market capitalisation of £116m and is currently trading at a 48% discount, according to data from Winterflood Research.
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