Literacy Capital proposes B share scheme to return cash to shareholders

Debt repayment prioritised

Literacy Capital (BOOK) has proposed to put in place a mechanism to return capital to shareholders through a B share scheme, conditional on the trust’s debt levels and pipeline of investment opportunities.

In a stock exchange notice today (8 April), the £300m BOOK said the scheme will allow the trust to issue redeemable B shares to shareholders and to redeem them on each redemption date without further action required.  However, the directors noted that not all capital profits will be returned and may be reinvested, with proceeds normally first applied to repay debt, with £9.6bn outstanding as of December 2023.  Bluefield Solar launches £20m buyback scheme due to 'weak' share price "The board's proposal to adopt a B share scheme should not be taken as any indication as to the likely ...