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TEMIT unveils enhanced buyback and tender offer to boost share demand
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The measures include enhanced share buybacks, a five-year dividend commitment, a conditional tender offer and a phased cut to its management fees. TEMIT's board has decided to repurchase up to 10% of the trust's current net assets for up to £200m over the next 12 to 24 months, if its current discount to net asset value persists, as well as continue the programme at a «sustainable rate» thereafter. Templeton Emerging Markets appoints chair as Paul Manduca steps down Over the last five years, the trust has bought back 143.2 million shares for £218.2m. According to data from the As...
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