Artemis Alpha Trust looks to suspend tender offer

Trust saw "significant improvement in performance"

Kathleen Gallagher
clock • 3 min read
Shareholders will be asked to vote
Image:

Shareholders will be asked to vote

The board of the £163.7m Artemis Alpha Trust is looking to suspend its 2021 tender offer for 25% of issued shares, which was due to take place around the AGM this month, and opt for a continuous share repurchases instead.

After a strategic review in 2018 the board said it would propose a tender offer at this time and every three years following. However, due to "changing circumstances" the board no longer thinks this is in the best interest of the trust and is instead "committing itself to a sustainable share buyback policy". In a market update today the board of the trust said that the over the last three years, the trust's liquidity has improved as the percentage of unquoted holdings have fallen and it has seen "significant improvement in performance". The board has consulted with the largest shar...

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